Walid Juffali

Walid Ahmed Juffali (30 April 1955 – 20 July 2016) (Arabic: وليد أحمد الجفالي‎) or Al-Walid bin Ahmed bin Abdullah bin Ibrahim Al Juffali (Arabic الوليد بن أحمد بن عبدالله الجفالي) was a Saudi billionaire heir and businessman. He was the chairman of E. A. Juffali and Brothers, the largest privately owned enterprise in Saudi Arabia, assuming office after the death of his father Ahmed bin Abdullah Al Juffali, Sheikh Al-Walid was also the Chairman of his own personal company "W Investments" a privately held investment company which mainly operated in Zurich.[2]

Sheikh

Al-Walid bin Ahmed Al Juffali
Born
Al-Walid bin Ahmed Al Juffali

(1955-04-30)30 April 1955
Jeddah, Saudi Arabia
DiedJuly 20, 2016(2016-07-20) (aged 61)
Zurich, Switzerland
NationalitySaudi Arabia
EducationLe Rosey
Alma materUniversity of San Diego
Imperial College London
Known forchairman of E. A. Juffali and Brothers
Net worth US$ 21.1 billion (2016) [1]
Spouse(s)Basma Al-Sulaiman (1980–2000)
Christina Estrada (2001–14)
Loujain Adada (m. 2012)
ChildrenSix; three with Basma Al-Sulaiman, one with Christina Estrada and two with Loujain Adada
Parents
Relatives Khaled bin Ahmed Al Juffali (brother)
Awards Order of Merit of the Federal Republic of Germany
The Star of Palestine
Grand Cordon
Order of the Elephant
Order of Saint Sylvester
Chairman of E. A. Juffali and Brothers
PredecessorAhmed bin Abdullah Al Juffali
SuccessorKhalid bin Ahmed Al Juffali
IssueDina
Hala
Mohammed (1993-2011)
Sirina
Tala
Talia
Full name
Al-Walid bin Ahmed bin Abdullah bin Ibrahim bin Nasser Al Juffali
HouseBani Khalid

He was also the chairman of Saudi American Bank, The Saudi Cement Company, and sat on the boards of numerous powerful companies including Saudi Hollandi Bank and many others.[3]

Sheikh Al-Walid also had a large collection of jewels ordered to pay out to his ex-wife Christina Estrada after a $95 million divorce settlement in 2014, lower than her demand for $8 billion which turned out to be the largest settlement in English legal history.[4]

Early life and education

Juffali was born in Jeddah on 30 April 1955,[5] the son of Ahmed Abdullah Juffali (1924–1994),[6] the founder of E. A. Juffali and Brothers, one of Saudi Arabia's largest companies.[7] This wealthy and secretive family was from Unayzah, Al-Qassim.[8] The Al-Juffali are members of Bani Khalid dynasty, rulers of Eastern Arabia during the early 1600s to the late 1800s after military defeats against the Saudis.[9] The Family are most notable for being direct descendants of Khālid ibn al-Walīd.

His mother was Suad bint Ibrahim Al Husseini the grand daughter of Kamil of Jerusalem and niece of Hajj Amin of Jerusalem. His sister is Maha Juffali.[10] Sheikh Al-Walid had two full-brothers: Khalid bin Ahmed Al Juffali, and Tarek bin Ahmed Al Juffali.[10][7]

After completing his elementary and secondary education between Jeddah, and Switzerland he continued his university education in the University of San Diego where he was awarded a bachelor's degree in International Business and political sciences.[11] After his graduation, he was gradually introduced to multiple public assignments in Jeddah, the western province of Saudi Arabia, where he was responsible for the development of Siemens Arabia and Nabors.

He received a bachelor's degree from the University of San Diego, California in 1977.[11] In 2012, he received a doctorate in neuroscience from Imperial College London.[12][2] His PhD thesis was entitled, "A Novel Algorithm for Detection and Prediction of Neural Anomalies", and his supervisor was Chris Toumazou.[13]

Al-Walid was also a graduate of Imperial College where he received a doctorate in neurosciences in 2012.[2] His PhD thesis was entitled, "A Novel Algorithm for Detection and Prediction of Neural Anomalies".[13] Sheikh Al-Walid developed great interest in brain theory. He launched multiple initiatives and programs that continue to serve and educate various sectors of the community and focus on the development and understanding of the human brain. Sheikh Al-Walid launched the brain forum, where his vision was to create a platform that would contribute to the progression of brain research and encourage global collaboration and initiatives with the potential to transform lives. Al-Walid successfully held a state of the art conference that was held in 2013, followed by a second in 2015 with over 1000 participants from 27 different countries. Following this, the conference became an annual event. In 2016, the brain forum hosted more than 1400 participants from 31 different countries. Sheikh Al-Walid is also fluent in four languages: Arabic, English, French, and German.[14]

Career

Sheikh Al-Walid was also the chairman of Saudi American Bank, and wholly owned his own specialist Neuroscience company " NeuroPro".[15]

In 2005, he was appointed as chairman of Dow Chemical Arabia. In the same year he chaired the board of directors for Siemens Arabia and became the board member of Nabors (Oil and Gas).

Sheikh Al-Walid has a 5% stake in Hitachi after investing $100m in the project through WJCO (Al-Walid Al Juffali Company) in January 2009. W Investments also had an 11% stake in Manchester United after purchasing the stake in May 2012.[16]

Juffali was the chairman of E. A. Juffali and Brothers,[12] a position he has held since at least 2005.[17]

In 2005, Juffali was also chairman of Saudi American Bank, deputy chairman of the Jeddah Chamber of Commerce and Industry, and Honorary Consul-General for Denmark.[17]

In December 2005, the Middle East Broadcasting Corporation (MBC) announced that Juffali would host its entrepreneurial reality show, The Investor, which would be shown early in 2006.[17] In her book Arab Television Today, Naomi Sakr, compared the show to The Apprentice, but noted that each of the 13 pairs of would-be entrepreneurs had to be from the same family, to reflect the "family aspect of business in the Arab world".[18]

Juffali also had a separate company, W Investments, a private wealth management company.[2] The CEO is Jamil El Imad, who is also managing director and chief scientist of his NeuroPro company.[15]

On 9 November 2015, The Daily Telegraph reported that Juffali had gained legal immunity in the UK, having been appointed as St Lucia's "Permanent Representative" to the International Maritime Organization (IMO), which is headquartered in London.[12]

Two days later, St Lucia's Office of the Prime Minister issued a statement, confirming that Juffali was appointed to the role in April 2014, "that all necessary due diligence was done prior to the appointment", and it declined the request from his ex-wife's lawyers to "lift the diplomatic immunity of Dr. Juffali to compel Dr. Juffali to testify in the civil suit ... this is a civil matter in which it does not desire to get involved."[19]

On 26 December 2015, The Daily Telegraph reported that it understood that the British Foreign Office had intervened to ask St Lucia to waive Juffali's immunity, amid concerns that he was using it to protect his wealth from his ex-wife during divorce proceedings.[20]

On 21 January 2016, The Daily Telegraph reported that the High Court had ordered Philip Hammond, the British Foreign Secretary to certify whether Juffali had been formally accepted by the UK as a diplomat representing St Lucia, as his ex-wife's lawyer stated that Juffali had never attended an IMO meeting.[21] The judge lifted restrictions on reporting his ex-wife's claim that Juffali was seriously ill with cancer in a Swiss hospital since, if he were to die before the case is concluded, her claim would become irrelevant, and she and their daughter would receive no further monthly payments.[22]

In February 2016, the High Court dismissed Juffali's claim of diplomatic immunity as 'spurious'. Juffali appealed the judgment to the Court of Appeal, and was supported by an intervention from the Foreign Secretary.[23] The Court of Appeal overturned the High Court's dismissal of Juffali's immunity, but ruled that his immunity was not relevant to the divorce claim, which it allowed to proceed.[24]

The divorce of Juffali and his second wife, Christina Estrada, was concluded in the British courts in July 2016 with Estrada being awarded £75 million, the largest such settlement in English legal history.[25]

Politics

Al-Walid was one of three Saudi Arabians who donated at least $3 million to the Clinton Presidential Center.[26]

Personal life

Juffali's first wife was fellow Saudi, Basma Al-Sulaiman, who received £40 million in a divorce settlement in 2000.[27] They married in Jeddah, Saudi Arabia in 1980, where they lived in a marble palace. They had three children, one son and two daughters. (Dina, Hala, and Mohammed). Mohammed died on May 16, 2008, due to a Myocardial infarction.[28]

In 2001 Juffali married Christina Estrada, an American former Pirelli Calendar model, but they divorced in 2014.[12] Estrada started divorce proceedings in 2012, after he married Loujain Adada (Saudi law allows up to four wives), and has made a claim against Juffali for at least his three UK properties, which include a seven-bedroom home in Knightsbridge, London, in a converted church, valued in total at about £60 million. Juffali and Estrada have a teenage daughter (Sirina).[27]

Juffali also owned Bishopsgate House in Egham, Surrey, which he acquired from his parents in about 2001.[29] There were "three butlers, six gardeners, five maids, two laundry girls, two drivers, two personal assistants, two nannies and an estate manager on the staff".[29] Juffali's art collection, estimated at £4 million, will be auctioned onsite at Bishopsgate House by Bonham's on 26 March 2018.[30]

Juffali was one of three Saudi businessmen who donated at least $1 million to the Clinton Presidential Center.[26]

In November 2012, Juffali married the 25-year-old Lebanese model and TV presenter Loujain Adada in Venice.[12] They had two children together.

Death

On 20 July 2016, Al-Walid died in Zurich, Switzerland, after a lengthy period with cancer.[31] His estate is in the hands of his brother Sheikh Khalid bin Ahmed Al Juffali as the inheritor, as well as the legal guardian of his five daughters.[22]

Ancestry
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References
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  2. "CBIT Alumni/Past Staff". Imperial College. Retrieved 18 November 2015.
  3. "Walid Bin Ahmed Al Juffali Executive profile". Retrieved 11 January 2015.
  4. Harthorne, Michael (11 February 2009). "Ex-Model Makes History With $97M Divorce Settlement". Newser. Retrieved 10 November 2010.
  5. "Walid Juffali, Saudi businessman – obituary". Daily Telegraph. 24 July 2016. Retrieved 25 July 2016.
  6. "The Al Juffali family". arabianbusiness. Retrieved 11 November 2015.
  7. Stig Stenslie (21 August 2012). Regime Stability in Saudi Arabia: The Challenge of Succession. Routledge. p. 60. ISBN 978-1-136-51157-8. Retrieved 18 November 2015.
  8. Taheri, Amir (2012). "Saudi Arabia: Change Begins within the Family". The Journal of the National Committee on American Foreign Policy. 34 (3): 138 143. doi:10.1080/10803920.2012.686725.
  9. "National Day of the State of Kuwait" (PDF). The Island. 25 February 2011. Retrieved 23 March 2013.
  10. "Strength in numbers". philanthropyage. 23 April 2013. Retrieved 11 November 2015.
  11. "Brain Forum Press Kit, page10" (PDF). thebrainforum. Retrieved 18 November 2015.
  12. Blair, David (9 November 2015). "Saudi billionaire gains legal immunity in Britain with career as Caribbean diplomat". The Daily Telegraph. London. Retrieved 11 November 2015.
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  14. "The Brain Forum founder". Retrieved 24 September 2015.
  15. "Executive Management Team". neuropro. Retrieved 18 November 2015.
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  18. Naomi Sakr (15 December 2007). Arab Television Today. I.B.Tauris. p. 116. ISBN 978-1-84511-564-7. Retrieved 18 November 2015.
  19. "Statement on Dr. Walid Juffali" (Press release). St Lucia Ministry of Education, Human Resource Development and Labour. 11 November 2015. Retrieved 18 November 2015.
  20. Alexander, Harriet (26 December 2015). "Britain intervenes to strip Saudi billionaire of diplomatic immunity ahead of divorce case". The Daily Telegraph. London. Retrieved 2 January 2016.
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  24. Ramesh, Randeep (22 March 2016). "Ex-wife of Saudi billionaire wins right to claim slice of his fortune". The Guardian. London. Retrieved 23 March 2016.
  25. "Former Pirelli calendar model awarded £75m in largest divorce settlement in English legal history". telegraph.co.uk. Retrieved 9 September 2016.
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  27. Roberts, Elizabeth (14 June 2015). "Ex-model once linked to Prince Andrew 'in divorce battle with husband worth £4bn'". The Daily Telegraph. Retrieved 11 November 2015.
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  29. Silverman, Rosa (3 February 2018). "Inside the British homes of Saudi billionaire Walid Juffali... with three butlers, six gardeners, £4m of art". The Daily Telegraph. Retrieved 12 February 2018 – via www.telegraph.co.uk.
  30. "Bonhams : THE WALID JUFFALI COLLECTIONOffered by Bonhams Onsite at Bishopsgate House, Surrey". www.bonhams.com. Retrieved 12 February 2018.
  31. Walid Juffali, Saudi businessman – obituary
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