world's billionaires Saleh Kamel

The World's Billionaires
#249 Saleh Kamel
Age: 65

Fortune: self made

Source: diversified

Net Worth: $3.5 bil

Country Of Citizenship: Saudi Arabia

Residence: Makkah Al-Minkarramah , Saudi Arabia, Middle East & Africa

Industry: Diversified

Marital Status: married,

Education: Bachelor of Arts / Science
King Abdulaziz University, Master of Business Administration
Self-made Saudi businessman made bulk of his fortune through profitable aviation services contracts with the Saudi government. Credited with inventing the modern concept of Islamic banking, which among other things forbids interest payments. Now focuses his energy on finance and media: Albaraka Banking Group, his $1.8 billion (market capitalization) line of Islamic banks went public earlier this year, amidst the regional decline in bank stocks. Raised the ire of soccer fans across the region this summer when his subscription-only ART satellite TV channel secured the exclusive rights to broadcast the World Cup. Kamel eventually agreed to air the games in the Middle East and North Africa (terrestrial-only) more broadly for free.