It is not easy to identify all the billionaires of Arabia, primarily because many individuals are members of the rulings families.
HRH Prince Mohammed bin Salman bin Abdulaziz Al Saud is the de facto ruler of Saudi Arabia. He is being assisted by a large number of brothers, cousins and nephews.
Saudi Aramco appointed Mahdi Aladel as new CEO to run its $500 million venture capital and investments arm, according to Bloomberg.
Red Sea Development Company has awarded its largest value contract to date to Nesma and Almabani for airside infrastructure works.
Saudi Grains Organization (SAGO) and National Center for Privatization and PPP (NCP) have completed the privatization of two milling companies.
Maaden Waad Al Shamal Phosphate Company (MWSPC) has signed new financing agreements for USD 2.3 billion with local and regional financial institutions.
ACWA Power ups stakes in Hajr Electricity Production Company from 17.5% to 22.49% following the partial acquisition of Samsung C&T’s equity.
Saudi Arabian Parsons has been awarded the construction supervision of AMAALA, an ultra-luxury destination located along Saudi Arabia’s northwestern coast.
The Saudi Technology Development and Investment Company (TAQNIA) and Lockheed Martin will develop and deploy the new ground segment for the secure and commercial operations of SaudiGeoSat-1.