Najib Mikati
Beirut, Lebanon
Bachelor of Arts/Science, American University of Beirut, Lebanon | Master of Business Administration, American University of Beirut, Lebanon
Lebanon
telecom, Self Made
$2,600,000,000
916
#916 Billionaires 2019
Najib Mikati is the cofounder, with his billionaire brother Taha, of Beirut-based investment firm M1 Group. Its investments include stakes in South African telecom firm MTN, fashion retailer Pepe Jeans, and real estate in New York, London and Monaco.Mikati and his brother Taha founded Investcom in 1982, selling satellite phones at the height of Lebanon's civil war.They expanded into Africa where they built cellphone towers in Ghana, Liberia and Benin, among other countries. In 2005, Investcom went public on the London Stock Exchange, and in 2009, South Africa's MTN bought the Mikatis' stake for $3.6 billion.
He was prime minister of Lebanon in 2011, after the collapse of billionaire Saad Hariri's government, but resigned two years later, citing an impasse in his cabinet.In 2005, Investcom was the largest IPO of a Middle Eastern company in London, and the first stock to trade on the Dubai Financial Market.
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