Sunday July 21st, 2024
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Dr. Sulaiman Al Habib's Personal Valuation Surges to USD 12bn

The value of Al Habib’s shares rose since a slump in October 2023, making him the third wealthiest non-royal in the Middle East.

Scene Now Saudi

Dr. Sulaiman Al Habib's Personal Valuation Surges to USD 12bn

Saudi Doctor Sulaiman Al Habib has seen his personal valuation grow to $12 billion this week following the rebound of shares from his healthcare firm, Sulaiman Al-Habib Medical Group (HMG), solidifying his position as the third-wealthiest non-royal in the Middle East according to the Bloomberg Billionaires Index.

Since hitting a one-year low in October 2023, shares in Al Habib’s company have jumped 30%, bringing the total growth of the firm to over 500% since its IPO in 2020.

Dr. Sulaiman Al Habib opened his first clinic in 1993, and in the years that followed he grew his single medical practice into a $28 billion healthcare chain operating numerous medical facilities and pharmacies in Saudi Arabia, the UAE and Bahrain.

Al Habib still holds onto a 40% stake in his company, placing him firmly on the podium of wealthiest non-royal individuals in the region.

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