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 Either way, Bassam has reportedly withdrawn from the family holding company.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

Gulf Bank Posts a 10% increase in Net Profit to KD 35.5 Million in 2014

Commenting on the results, Mr. Omar Kutayba Alghanim, Gulf Bank’s Chairman said: "Gulf Bank is today a great and strong bank. It has overcome the difficult times in an admirable way. The ...
Posted: January 26, 2020, 4:00 pm

Gulf Bank K.S.C.P. (Al Khalij Bank Kuwait), Kuwait - Stock Price, Company Details, News and Contacts - ZAWYA Markets, MENA Edition

Access the most comprehensive database of companies and officers in the Middle East and North Africa, covering all major sectors and industries, from Refinitiv. Screen, analyze and compare projects in ...
Posted: February 24, 2020, 1:38 am

Gulf Bank reports net profit of KD 43 million, up 10% from 2015

Commenting on the results, Mr. Omar Kutayba Alghanim, Gulf Bank’s Chairman said: “These past three years have marked significant milestones in the transformation of Gulf Bank, moving it ...
Posted: January 29, 2020, 4:00 pm
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