Sultan bin Mohammed bin Saud Al Kabeer

Sultan bin Mohammed bin Saud Al Kabeer (born 1954) is a member of House of Saud and a businessman.[2] 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 66–67)
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

Early life and education

Prince Sultan belongs to the Al Kabeer branch of the Saudi royal family.[3] 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.

Prince Sultan was born in born 1954 in Riyadh.[4][5] His father is Mohammed bin Saud whose mother is Nourah bint Abdulrahman, sister of Ibn Saud.[6][7]

He 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 was the chairman of the board of Arabian shield - Bahrain insurance company and Arabian Union for Cement Industries,[2] and served 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, Nofa Equestrian Resort,[11] where he trains around 100 horses.[12] In 2015 Prince Sultan bought Spring At Last, a grade-1 winning race horse.[13]

In March 2020 Prince Sultan resigned from his post as chairman of the board of directors of Almarai Company.[14] He was succeeded by his son Nayef bin Sultan Al Kabeer.[14]

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.[15][16]

In late December 2017 Prince Sultan's sons, Nayef bin Sultan and Saud bin Sultan, were detained in Riyadh due to their alleged involvement in a protest over the government’s decision to stop paying their utility bills.[17]

Wealth and influence

Prince Sultan was the third person 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]

Gulf Business listed him the 38th most powerful Arab in 2019.[18] He was also given as one of the most powerful people in Saudi Arabia in the annual Arabian Business Saudi Power List in 2020.[19]

References
  1. "#474 Prince Sultan bin Mohammed bin Saud Al Kabeer". Forbes. Retrieved 29 June 2020.
  2. "Prince Sultan bin Mohammed bin Saud Al Kabeer". Arabian Shield. Archived from the original on 21 September 2013. Retrieved 20 September 2013.
  3. "Hidden billionaire milking Saudi dairy fortune in desert". farmlandgrab.com. 15 January 2013. Retrieved 29 June 2020.
  4. "شخصيات اقتصادية: الأمير سلطان بن محمد بن سعود الكبير". Al Arabia. 5 June 2013. Retrieved 10 June 2013.
  5. 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.
  6. Simon Henderson (12 October 2009). "Factors Affecting Saudi Succession are a Family Affair". The Cutting Edge.
  7. William B. Quandt (1981). Saudi Arabia in the 1980s: Foreign Policy, Security, and Oil. Washington DC: The Brookings Institution. p. 79. ISBN 0815720513.
  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. "Saudi Arabia goes solar". Pakistan Engineering Review. 15 June 2014. Retrieved 10 October 2020.
  12. "Prince Sultan bin Mohammed bin Saud Al Kabeer". Forbes Middle East. Archived from the original on 21 September 2013. Retrieved 20 September 2013.
  13. "Spring At Last Sold to Saudi Interests". BloodHorse. 20 January 2015. Retrieved 10 October 2020.
  14. "Almarai Company Announces Resignation of the Chairman of the Board of Directors". Tadawul. 10 March 2020. Retrieved 29 June 2020.
  15. "Saudi Corruption Purge Snares $33 Billion of Net Worth". Bloomberg.com. 6 November 2017. Retrieved 8 November 2017.
  16. "Saudi Corruption Purge Snares $33 Billion of Personal Net Worth". Gulf Insider. 7 November 2017. Retrieved 8 November 2017.
  17. Vivian Nereim; Glen Carey (8 January 2018). "Saudi Princes Detained Are Said to Include Sons of Almarai Head". Bloomberg Quint. Retrieved 2 September 2020.
  18. "Top 100 most powerful Arabs 2019". Gulf Business. Retrieved 16 September 2020.
  19. "Most Powerful People in Saudi Arabia". Arabian Business. 26 August 2020. Retrieved 16 September 2020.
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