Sultan bin Mohammed Al Kabeer (born 1954) is a Saudi prince and businessman.[1] He is one of the founders of Almarai which is the largest vertically integrated dairy foods company in the world. Prince Sultan is a great-nephew of King Abdulaziz, being the grandson of the King's sister Noura bint Abdul Rahman.
Sultan bin Mohammed Al Kabeer | |
|---|---|
| Born | 1954 (age 69–70) |
| Nationality | Saudi |
| Alma mater | King Saud University |
| Occupation | Co-founder of Almarai |
| Years active | 1977–2020 |
| Spouse | Al Jawhara bint Saad bin Abdulaziz Al Saud |
| Parent | Mohammed bin Saud Al Kabeer (father) |
Early life and education edit
Prince Sultan belongs to the Al Kabeer branch of the Saudi royal family.[2] This branch is the descendants of Saud bin Faisal bin Turki, Emir of Nejd, who was an uncle of King Abdulaziz, 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. Saud bin Faisal was the great-great-grandfather of Prince Sultan.
Prince Sultan was born in 1954 in Riyadh.[3][4] His father is Mohammed bin Saud Al Kabeer who was the son of Saud Al Kabeer and Noura bint Abdul Rahman Al Saud, sister of King Abdulaziz.[5][6]
He is a graduate of King Saud University having a bachelor's degree in commerce and political science.[7]
Career edit
Prince Sultan founded the dairy company, Almarai, in 1977, and subsequently made it public in 2005 whilst retaining shares of nearly 29%. He also founded Masstock Saudia which was a joint agricultural company with an Irish company in the 1980s.[8] He was the chairman of the board of Arabian shield - Bahrain insurance company and Arabian Union for Cement Industries,[1] and served as vice president and managing director of Yamama Saudi Cement.[7][9] He is one of the founders of Zain Saudi Telecom, Al Salam Bank (Bahrain), Dana Gas based in UAE.[10]
In March 2020 Prince Sultan resigned from his post as chairman of the board of directors of Almarai Company.[11] He was succeeded by his son Nayef bin Sultan Al Kabeer.[11]
Arrest edit
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.[12][13]
In late December 2017 Prince Sultan's sons Nayef and Saud were detained in Riyadh due to their alleged involvement in a protest over the government's decision to stop paying their utility bills.[14]
Wealth and influence edit
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.[15]
Gulf Business listed him the 38th most powerful Arab in 2019.[16] He was also given as one of the most powerful people in Saudi Arabia in the annual Arabian Business Saudi Power List in 2020.[17]
Horse breeding edit
Prince Sultan keeps a stud farm outside Riyadh, Nofa Equestrian Resort,[18] where he trains around 100 horses.[19] Total Impact, a racehorse which was imported by Sultan from Chile and trained by Laura de Seroux, won the grade-1 Hollywood Gold Cup in 2004.[20] In 2015 Prince Sultan bought Spring At Last, a grade-1 winning race horse.[21]
References edit
- ^ a b "Prince Sultan bin Mohammed bin Saud Al Kabeer". Arabian Shield. Archived from the original on 21 September 2013. Retrieved 20 September 2013.
- ^ "Hidden billionaire milking Saudi dairy fortune in desert". farmlandgrab.com. 15 January 2013. Retrieved 29 June 2020.
- ^ "شخصيات اقتصادية: الأمير سلطان بن محمد بن سعود الكبير". Al Arabia. 5 June 2013. Retrieved 10 June 2013.
- ^ Mark Neal (23 May 2019). Kabeer, Sultan bin Mohammed bin Saud, al. Oxford University Press. ISBN 978-0-19-184326-6. Retrieved 29 June 2020.
{{cite book}}:|work=ignored (help) - ^ Simon Henderson (12 October 2009). "Factors Affecting Saudi Succession are a Family Affair". The Cutting Edge.
- ^ William B. Quandt (1981). Saudi Arabia in the 1980s: Foreign Policy, Security, and Oil. Washington DC: The Brookings Institution. p. 79. ISBN 0815720513.
- ^ a b "Sultan bin Mohammed bin Saud Al Kabeer Al Saud". Bloomberg. Retrieved 29 June 2020.
- ^ Kiren Aziz Chaudhry (2015). The Price of Wealth. Cornell: Cornell University Press. p. 161.
- ^ "Sultan bin Saud Al Kabeer: Executive Profile and Biography". Businessweek. Archived from the original on 21 September 2013. Retrieved 20 September 2013.
- ^ "Board of Directors". Almarai. Retrieved 20 September 2013.
- ^ a b "Almarai Company Announces Resignation of the Chairman of the Board of Directors". Tadawul. 10 March 2020. Retrieved 29 June 2020.
- ^ "Saudi Corruption Purge Snares $33 Billion of Net Worth". Bloomberg.com. 6 November 2017. Retrieved 8 November 2017.
- ^ "Saudi Corruption Purge Snares $33 Billion of Personal Net Worth". Gulf Insider. 7 November 2017. Retrieved 8 November 2017.
- ^ Vivian Nereim; Glen Carey (8 January 2018). "Saudi Princes Detained Are Said to Include Sons of Almarai Head". Bloomberg Quint. Retrieved 2 September 2020.
- ^ "#474 Prince Sultan bin Mohammed bin Saud Al Kabeer". Forbes. Retrieved 29 June 2020.
- ^ "Top 100 most powerful Arabs 2019". Gulf Business. Retrieved 16 September 2020.
- ^ "Most Powerful People in Saudi Arabia". Arabian Business. 26 August 2020. Retrieved 16 September 2020.
- ^ "Saudi Arabia goes solar". Pakistan Engineering Review. 15 June 2014. Retrieved 10 October 2020.
- ^ "Prince Sultan bin Mohammed bin Saud Al Kabeer". Forbes Middle East. Archived from the original on 21 September 2013. Retrieved 20 September 2013.
- ^ Neil Milbert (24 July 2004). "From riding lessons to success as trainer". Knight Ridder/Tribune News Service. Retrieved 27 May 2021.
- ^ "Spring At Last Sold to Saudi Interests". BloodHorse. 20 January 2015. Retrieved 10 October 2020.