What is Najib Mikati’s Net Worth?
Najib Mikati is a businessman who has a net worth of $3.3 billion dollars which makes him the richest person in Lebanon. Born in Lebanon, Najib Mikati is a graduate of the American University of Beirut, where he earned an MBA. He also studied at Harvard and at INSEAD in France. He co-founded Investcom with his brother, Taha, in the early 80s. The company is a highly successful telcommunications firm.
He and his brother sold their portions of the company to the South African firm, MTN Group. They then launched the M1 Group, a holdings company with real estate, retail, and international travel interests. He became Minister of Public Works and Transport in Lebanon in the late 90s, and was then elected to the National Assembly in 2000. In 2005, he served as Prime Minister of Lebanon from April 2005 to July of 2005, after Omar Karami resigned in frustration after seven weeks in office. He was re-elected to the office of Prime Minister in mid-June 2011, and has remained Prime Minister since then.
Najib Mikati is a prominent Lebanese politician and businessman, having served as the Prime Minister of Lebanon three times, with his latest term starting in September 2021. As of October 2022, he also fulfills the role of the resigned prime minister leading a caretaker government that can act as President in emergency situations. His previous stints as Prime Minister were from June 2011 to February 2014, and a brief period from April to July 2005. Mikati has also served as the Minister of Public Works and Transport from 1998 to 2003.
In the political sphere, he led an interim government in 2005 and formed a government backed by the March 8 alliance in 2011. Mikati has been a parliamentary member representing Tripoli, serving terms from 2000 to 2005, and later re-elected in 2009 and 2018. He was designated Prime Minister again in July 2021.
According to Forbes, he holds the title of Lebanon’s richest man in 2023 with a net worth of $2.8 billion. His tenure in politics has not been without controversy, facing multiple allegations of corruption.
Early Life and Education
Born into a well-established Sunni Muslim family from Tripoli on November 24, 1955, Mikati’s academic journey led him to the American University of Beirut, where he obtained an MBA in 1980. He furthered his education with programs at Harvard and INSEAD.
Business Career and Wealth (Main Article: M1 Group)
Mikati began his career in business in 1979 when his brother Taha Mikati established the Arabian Construction Company, which grew into a leading construction entity in the Middle East. In 1982, he co-founded Investcom with his brother and later sold it to South Africa’s MTN Group for $5.5 billion.
Mikati’s business ventures include significant stakes in MTN, ownership of luxury brand Façonnable, and investments across the sectors of transport, gas, oil, and real estate in global hotspots like London, New York, and Monaco. He is also the owner of the motor yacht Mimtee, measuring 79 meters.