Billionaire Saudi banking tycoon dead at 79, family says:
Billionaire Saudi businessman Saleh Abdullah Kamel, who founded the banking and real estate conglomerate Dallah Albaraka Group, has died, according to relatives quoted in the kingdom’s media. He was 79.
People close to Kamel told The Associated Press he died at the Dr. Samir Abbas Hospital in the city of Jiddah, where he was taken after suffering a heart attack early on Tuesday.
Kamel’s business empire grew from its humble beginnings in the late 1960′s — at the same time that the kingdom was using its oil wealth to rapidly develop and in need of homegrown companies to build roads, highways and cities.
Over the years, the business expanded to tens of thousands of employees and today includes subsidiaries and stakes in a range of businesses, such as the operation and maintenance of airports and roads, tourism, trade, trucking and transportation, telecommunications, media, agriculture, poultry and health care.
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| In this Aug. 10, 2006 file photo, Turkish Prime Minister Recep Tayyip Erdogan, left, and King Abdullah of Saudi Arabia, right, applaud after Islamic Chamber of Commerce and Industry President Sheikh Saleh Abdullah Kamel, center, made a speech during a meeting at the Ottoman era Ciragan Palace in Istanbul, Turkey. Billionaire Saudi businessman Saleh Abdullah Kamel, who founded the banking and real estate conglomerate Dallah Albaraka Group, has died at the age of 79. His business empire grew in the late 1960′s, at the same time that the kingdom was using its oil wealth to rapidly develop and in need of homegrown companies to build roads, highways and cities. (AP Photo/Murad Sezer, File) |
Billionaire Saudi businessman Saleh Abdullah Kamel, who founded the banking and real estate conglomerate Dallah Albaraka Group, has died, according to relatives quoted in the kingdom’s media. He was 79.
People close to Kamel told The Associated Press he died at the Dr. Samir Abbas Hospital in the city of Jiddah, where he was taken after suffering a heart attack early on Tuesday.
Kamel’s business empire grew from its humble beginnings in the late 1960′s — at the same time that the kingdom was using its oil wealth to rapidly develop and in need of homegrown companies to build roads, highways and cities.
Over the years, the business expanded to tens of thousands of employees and today includes subsidiaries and stakes in a range of businesses, such as the operation and maintenance of airports and roads, tourism, trade, trucking and transportation, telecommunications, media, agriculture, poultry and health care.
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