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Net Worth
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8.60 bn
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Age
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Source of Wealth
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MA Kharafi Group
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Marital Status
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Two years on from the death of the head of the Kharafi family, Nasser Al Kharafi, Kuwait’s biggest private business is going strong. Nasser Al Kharafi’s younger brother, Mohannad, took the reins of the firm alongside Jassim, Nasser, Fawzi and other family members.
Established in 1956, MA Kharafi and Sons is one of the largest of its kind in the world, and has operations in Lebanon, Saudi Arabia, Yemen, Tanzania, Botswana, Cairo, Kenya, the Maldives, Abu Dhabi and Albania. A diversified conglomerate, the group also oversees stakes, through the Americana food division, in various high-profile American eateries, and has the exclusive franchise rights in the Middle East for fast food brands including KFC, Wimpy, TGI Friday’s, Cadbury’s, Pizza Hut and Saint Cinnamon. He is also the largest individual stakeholder of popular doughnut company Krispy Kreme.
The empire also spans sectors including construction, manufacturing, an airline and investments that include Kuwait’s leading financial institutions and other companies listed on the stock exchange. With an annual turnover of over $4bn, the MA Kharafi Group now operates in more than 25 countries around the world and has more than 100,000 employees.
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