Sultan bin Mohammed bin Saud Al Kabeer

Sultan bin Mohammed bin Saud Al Kabeer (born 1954 in Riyadh)[2] is a member of House of Saud and a businessman.[3] He is one of the founders of Almarai which is the largest vertically integrated dairy foods company in the world.

Sultan bin Mohammed bin Saud Al Kabeer
Born1954 (age 65–66)
Riyadh, Saudi Arabia
NationalitySaudi
Alma materKing Saud University
OccupationCo-founder of Almarai
Years active1977–2020
Net worthUS$ 3.8 billion (2017)[1]
Spouse(s)Al Jawhara bint Saad bin Abdulaziz Al Saud
WebsiteChairman of the Board

Early life and education

Prince Sultan belongs to the Al Kabeer branch of the Saudi Royal Family.[4] This branch are the descendants of Prince Saud, who was an uncle of Ibn Saud, the founder of the present Kingdom of Saudi Arabia. As such, the Al Kabeer family is a cadet branch of the royal family and are not eligible to succeed to the throne.

Paternal grandmother of Prince Sultan is Nourah bint Abdulrahman who was the sister of Ibn Saud.[5][6] He was born in 1954 in Riyadh[7] and is a graduate of King Saud University having a bachelor’s degree in commerce and political science.[8]

Career

Prince Sultan founded the dairy company Almarai in 1977 and subsequently made it public in 2005 whilst retaining shares of nearly 29%. He is the chairman of the board of Arabian shield - Bahrain insurance company and Arabian Union for Cement Industries,[3] and serves as vice president and managing director of Yamama Saudi Cement.[8][9] He is one of the founders of Zain Saudi Telecom, Al Salam Bank (Bahrain), Dana Gas based in UAE.[10] He also keeps a stud farm outside Riyadh where he trains around 100 horses.[11]

In March 2020 Prince Sultan resigned from his post as chairman of the board of directors of Almarai Company.[12] He was succeeded by his son Nayef bin Sultan Al Kabeer.[12]

Arrest

On 4 November, 2017, Prince Sultan was arrested but not detained. This was following a "corruption crackdown" conducted by a new royal anti-corruption committee.[13][14]

Wealth

Prince Sultan was reported to be third in the Forbes Middle East's billionaire ranking in 2017 and Forbes Magazine estimated his net worth at US$3.8 billion. As of January 2018, it listed him the third richest person in Saudi Arabia. However, in March 2018 he was removed from the list due to the fact that it was not clear whether or not he still had the assets.[1]

References
  1. "#474 Prince Sultan bin Mohammed bin Saud Al Kabeer". Forbes. Retrieved 29 June 2020.
  2. "شخصيات اقتصادية: الأمير سلطان بن محمد بن سعود الكبير". Al Arabia. 5 June 2013. Retrieved 10 June 2013.
  3. "Prince Sultan bin Mohammed bin Saud Al Kabeer". Arabian Shield. Archived from the original on 21 September 2013. Retrieved 20 September 2013.
  4. "Hidden billionaire milking Saudi dairy fortune in desert". farmlandgrab.com. 15 January 2013. Retrieved 29 June 2020.
  5. Simon Henderson (12 October 2009). "Factors Affecting Saudi Succession are a Family Affair". The Cutting Edge.
  6. William B. Quandt (1981). Saudi Arabia in the 1980s: Foreign Policy, Security, and Oil. Washington DC: The Brookings Institution. p. 79.
  7. Mark Neal. "Kabeer, Sultan bin Mohammed bin Saud, al". A Dictionary of Business and Management in the Middle East and North Africa. Retrieved 29 June 2020.
  8. "Sultan bin Mohammed bin Saud Al Kabeer Al Saud". Bloomberg. Retrieved 29 June 2020.
  9. "Sultan bin Saud Al Kabeer: Executive Profile and Biography". Businessweek. Retrieved 20 September 2013.
  10. "Board of Directors". Almarai. Retrieved 20 September 2013.
  11. "Prince Sultan bin Mohammed bin Saud Al Kabeer". Forbes Middle East. Archived from the original on 21 September 2013. Retrieved 20 September 2013.
  12. "Almarai Company Announces Resignation of the Chairman of the Board of Directors". Tadawul. 10 March 2020. Retrieved 29 June 2020.
  13. "Saudi Corruption Purge Snares $33 Billion of Net Worth". Bloomberg.com. 6 November 2017. Retrieved 8 November 2017.
  14. "Saudi Corruption Purge Snares $33 Billion of Personal Net Worth". Gulf Insider. 7 November 2017. Retrieved 8 November 2017.
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