Source of Wealth:Telecom
Occupation:Co-Founder of Investcom; Founder and Chairman of M1 Group
Education:American University of Beirut
Lebanese billionaire Taha Mikati is the co-founder of Investcom, and has an estimated net worth of $2.7 billion as of April 2016, according to Forbes. According to Forbes, he is the wealthiest person in Lebanon and 384th among the world's billionaires along with his brother, Prime Minister Najib Mikati.
Together, they founded the company at the height of the civil war in Lebanon in the 1980s, and later expanded into Africa. After IPOs in London and Dubai, the brothers sold their company to MTN Group of South Africa for $5.5 billion in 2006. However, they remained the second largest individual shareholders of MTN ever sinc.
Mikati also earned his estimated net worth of $3.5 billion as the founder and chairman of M1 Group, a holding company led by his son Azmi, an engineering graduate from Columbia University. It has investments in various industries such as retail, energy, real estate, jet leasing and fashion and he is responsible with the strategic decisions.
Taha Mikati has holding shares in notable companies including the fashion line Faconnable, Audi Bank, and the UK supermarket chain J Sainsbury. It was reported that the Mikatis have hired British architect Norman Foster to redesign their headquarters in Lebanon's capital, Beirut.