Kutayba Alghanim Net Worth is$1.2 Billion
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Kutayba Alghanim net worth: Kutayba Alghanim is a Kuwaiti billionaire who has a net worth of $1.2 billion. Together with his brother Bassam, Kutayba Alghanim has inherited the family holding company, Alghanim Industries and a stake in Gulf Bank. However, since the Alghanim siblings couldn't agree over the family's wealth division, their feud ended with a court suit. The dispute reached its culmination when Kutayba's son Omar, a Harvard MBA graduate, took over the reigns of the family holding company, which, among other things, sells General Motors vehicles. While a US judge put the case on hold, pending arbitration in Kuwait, a UK judge found Kutayba and his son liable for hacking into Bassam Alghanim's email. Either way, Bassam has reportedly withdrawn from the family holding company.
Alghanim Industries is one of the largest privately owned companies in the Gulf region, predominantly in Kuwait. A multinational company in outlook with operations in 40 countries, Alghanim Industries is a multi-billion dollar conglomerate with more than 30 businesses.
The firm has established strongholds in the Middle East, India and Turkey, dealing with over 300 global brands and agencies. Right now, however, Harvard-educated Omar Alghanim has his eyes set firmly on expansion into the East.
The Alghanim family was among the original families to populate what would become Kuwait, and has a long history as commercial merchants in the region.
In 1932, Yusuf Ahmed Alghanim returned to Kuwait from his studies abroad and took over his father's business which he built into a successful company. By the end of the 1930s, he had established the reputation of Alghanim throughout the Middle East and was employing a labour force of more than 4000 people. Under the guidance of Yusuf, the organisation grew and diversified over the next 40 years which further entrenched the Alghanim name across the Middle East.
One of the key steps in this expansion was an association with General Motors (GM) to introduce American-made vehicles in Kuwait - the genesis of what is today one of the largest GM agencies in the world. During this period, the group became known as Yusuf Ahmed Alghanim & Sons.
From the early 1970s, Yusuf's son, Bassam, led the organisation and installed a western-style management structure and decentralised decision-making processes. They positioned the company as a diversified multinational corporation, well-placed for continued success locally and abroad. In the late 1970s and the early 1980s, the holding company became known as Alghanim Industries with several business units and brands operating under its umbrella. Some of the leading brands that Alghanim associated with include Hitachi, British Airways, Philips, Kirby Building Systems, and Frigidaire.<

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Kutayba Alghanim Latest News

Slim Chickens and Alghanim Industries Launch International Partnership to Develop Middle Eastern Presence

This will be followed by a rapid brand rollout across the entire region. Alghanim Industries Chairman Kutayba Alghanim commented: "We are committed to expanding our portfolio by partnering with one of the most pioneering, value-based consumer companies in ...
Posted: December 5, 2016, 4:00 pm

Gulf Bank appoints Omar Alghanim as chairman-statement

KUWAIT, March 16 (Reuters) - Omar Kutayba Alghanim has been appointed chairman of Kuwait’s Gulf Bank KSC, it said in a statement on Saturday. Alghanim’s appointment, for a two-year term, came after former chairman Mahmoud Al Nouri stepped down earlier ...
Posted: March 15, 2013, 5:00 pm

X-Cite launches first store in Riyadh

X-cite, a major electronics retailer, opens its first store in Riyadh. As part of Alghanim Industries ... extend far beyond providing the best products and services. Omar Kutayba Alghanim, CEO of Alghanim Industries, commented: “Our hope and ambition ...
Posted: October 13, 2015, 8:00 am
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