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Net Worth
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8.10 bn
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Age
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Source of Wealth
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Construction & Industry
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Marital Status
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The Kingdom of Saudi Arabia was founded by King Abdul Aziz Al Saud. In 1931 Mohammed Binladin established a construction company within the Kingdom. In 1950, when King Abdul Aziz was planning the first Saudi Extension to the Prophet's Mosque in Madina.He honored Mohammed Binladin by turning to him fulfill his wishes. Work on the extension was completed during the reign of King Abdul Aziz's son King Saud bin Abdul Aziz. As a result of the success of this project, Mohammed Binladin was asked to undertake the extension to the holy Mosque in Makkah, the first for the thousand years. Work on this huge enterprise started in 1955...
...it continued through the reign of King Saud's successor King Faisal...ceremony at completion of the First Saudi Extension of the Makkah Holy Mosque and was completed after twenty years, during the reign of King Khalid. In 1964 Mohammed Binladin was commissioned to work in the third Holy sanctuary of Islam, re-cladding the Dome of the Rock in Jerusalem. As the developing kingdom expanded its infrastructure, so Mohammed Binladin played an integral part in these pioneering years by building a network of new highways throughout the country.
As Saudi government spending keeps rising, so do the fortunes of the Gulf’s most prominent family construction empire. Last year, the Binladin Group won deals to construct Prince Alwaleed’s Kingdom Tower and the expansion of the King Abdulaziz International Airport in Jeddah. Between then the contracts are worth over $20bn. Adding to those deals was a bumper contract to help build the first phase of the Haramain railway link.
The family fortune is based on a construction business that paid immense dividends when decades ago it was awarded contracts for major renovations at Mecca and other religious buildings in Saudi Arabia and abroad. Founded by Mohammed Binladin, the family also built several palaces in Riyadh and Jeddah for the royal family and carried out restoration work following an arson attack on Jerusalem’s Al Aqsa Mosque in 1969. Salem, Mohammed’s eldest son, ran the empire left behind by his father upon his death in 1968 until he died when his private plane crashed in Texas in 1988.
Mohammed left 54 sons and daughters from several marriages. Thirteen of his sons sit on the board of the family’s firm — the most prominent being Bakr, Hassan, Islam and Yehya. Bakr, Mohammed’s second son, succeeded Salem at the head of the firm, which employs tens of thousands of people across the region.
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