It is really not wise to associate power with money because it is not your wealth every time that turns you into someone really in power. If you are planning to start your career in Lebanon or want to know more about the real families there, here are the richest and the most powerful families you should know before getting started with huge investment in Lebanon.
1)The Gemayel Family
The Maronite Christian family with a very old and tragic history has been in in politics even before the start of country’s civil war in 1975. Though the Presidential family has strong roots still the president was albeit with barely any powers, as the Syrians were in North and Israelis in South. The Pierre Gemayel, the founder of the Phalange Party , who survived the assassination attempts but his descendants were less fortunate. Despite paying such high prices, the family still pursuing their career in politics which Pierre Gameyal founded 70 years ago.
2)The Mikati Family
Source: Investcom, Politics, M1 Group Holdings
The billionaire family who is known as the keepers of the Prophet’s Mohammed Holy treasure, is on their way to repeat the history and turn the tables for the sake of founding new government. They have taken their roots in the politics by way of succeeding in life as the most educated and cultured families whose members were entrepreneurs, doctors, engineers and professors . Najib Mikati, the current Prime Minister faces the tough challenge of keeping the country from being dragged down by the ongoing civil war in neighboring Syria. Before stepping into politics, a leading telecom family business, Investcom, later it was bought by MTN for $5.5 billion after its shares were listed on both the London and the Dubai stock exchange, it turned out as the largest International Middle Eastern Company. The family also owns M1 Group Holdings, which include Geneva-based Baboo airline, Avante petroleum an exploration and production company, French retailer Faconnable and the stakes in Lebanon’s largest lender by assets, The Bank Audi SAL-Audi Saradar Group.
3)The Hariri Family
Source: Politics, Solidere Group, Horizon Development Group
Serving for seven years in the country, the Prime minister Rafic Al-Hariri died in a car-bomb attack on Feburary 2005. The family sets their grounds of power through accumulating wealth when Rafic Hariri went into the Saudi Arabia Construction business. The exponential growth was observed when the Arab oil boycott in 1973 against states supporting Israel in October war pushed up oil prices, boosting Hariri, who took over the French construction group Oger from the status of millionaire to that of billionaire that founded hospitals, power plants and palaces in Arab. He lifted the country’s image by founding the reconstruction company, Solidere, the joint stock company in charge of rebuilding Beirut. After the death of Rafic Hariri, his son Saad Hariri inherited a fortune of $4.1 billion and started his own company, the Horizon Development Group, which focuses on real estate in Saudi Arabia, Jordan and Lebanon, but his government collapse in January 2011 after number of figures left his alliance when Najib Mikati, his brother, created a Hezbollah led government.
4)The Choueiri Family
Source: The Choueiri Group, Middle East largest media broker
One Antonie Choueiri died on march 2010, the entire Arab business world lost an icon that built up one of the largest media brokerage firms in the Middle East. Channels like Al-Jazera, MBC retailed or LBC – rely on the vast expanded network of Choueiri Group which controlled the flow of advertisement to most of the top free to air television stations. It handled U.S $1 billion of just an advertisement cash each year. The group represents 29 TV channels out of 715 Arab broadcasting stations. The Group operated in 11 markets as well as in Europe and Japan.
5)The Jumblatt Family
The current leaders of Progressive Socialist Party are the most prominent leader of Lebanon’s Druze Community, believing in elements which Holy Quran strictly denies like wandering of souls around after person’s death. He is the key figure in breaking up the former government. He is one of the minds who changes who changes over blowing air.
All for now,