Family businesses in the Gulf countries recorded remarkable superiority in Forbes' annual list of the 100 most powerful Arab family businesses for 2024, with 76 Gulf companies on the list, led by Abdul Latif Jameel Saudi Arabia, followed by the UAE's Al-Futtaim Group.
According to Forbes, GCC families are the most successful in the family business scene, with a list of 76 Gulf companies including 34 Saudi family-owned companies, 28 Emirati family-owned companies, and other family-owned companies in Qatar, Kuwait, and Oman.
6 Gulf family businesses were established on the Forbes list in the nineteenth century, and 26 companies before 1950, while only 6 of them were established in the first decade of the current century, which indicates the role of "heritage and historical traditions" in the Gulf superiority in this type of company.
Source (Al-Araby Al-Jadeed Newspaper, Edited)
