With family net worth of $7 billion, Bakr Bin Laden, chairman of Saudi Bin Laden Group was ranked as Marcopolis' #7 most powerful businessman in Saudi Arabia.
The Bin Laden family is one of the wealthiest families in Saudi Arabia, and has close ties with the innermost circles of the Saudi royal family. The Bin Laden family owns the global contracting conglomerate, Saudi Binladin Group, with offices in London, Dubai, and more. Saudi Binladin Group had revenues of US$ 30 billion in 2012, grosses over US$ 2 billion annually and have more than 55,715 employees. The company is the largest family business in MENA by revenues.
Bakr Bin Laden is chairman of Saudi Binladin Group, and is a major power broker in the Kingdom. Bakr holds the largest share in the Group, with a 23.58% holding.
On a personal note, Bakr is one of 54 sons and daughters from several marriages. His father, Mohammed Bin Laden, founded the company and employed thirteen of his sons to sit on the board of the business, including Bakr.
Bakr, a civil engineer, quickly became a valued asset to the company, after taking over the position from his oldest full brother, Salem, following his death in 1988. Bakr bin Laden is not the second oldest brother of the patriarch of the family; however, the decision to appoint him as the head of the company had been long in making. Salem had increasingly designated Bakr as chief of business operations, and Bakr’s business acumen and leadership skills paid off. He was involved with the company’s two most lucrative construction contracts in Mecca and Medina.
Saudi Binladin Group looks forward to what the future holds for the construction sector, as they joined together with Qatari Diar to form a venture holding company. The new company is in the process of working on a 994.6 million dollar contract to design and construct 30 parcels in King Abdullah Financial District.
Although he is a major power broker in the Saudi Arabia’s business capital, Bakr is the type of person to keep a low profile and prefers privacy.
Mohammed Bin Laden is founder of Saudi Bin Laden group. He has begun life as a bricklayer for ARAMCO, established his own small construction business and distinguished himself by building palaces for members of the royal family. One of his best ideas had been to build a palace for the ageing and partly paralysed King Abdel-Aziz with a ramp leading up an outside wall to his bedroom on the first floor. Through initiatives such as this and his patient attendance on the King, he put himself in a position to be awarded the contract for one of the Kingdom’s first major roads, running from Jeddah to Medina.
After successfully completing the road, Bin Laden went on to win more, and more profitable, contracts, creating a construction company which was by far the biggest in Saudi Arabia and one of the biggest in the world.