Nasser Al-Kharafi, a Kuwaiti businessman and former chairman of the Kharafi Group, was one of the wealthiest and most influential entrepreneurs in the Arab world.
Born into a prominent business family, Nasser was the son of the late businessman Mohammed Abdulmohsen Al-Kharafi and brother of Jassem Al-Kharafi, the former Speaker of the Kuwaiti National Assembly.
Early Life & Education
Al-Kharafi’s educational journey began at Al-Muthanna School, followed by Victoria College in Alexandria, Egypt, where he embraced the British education system.
During his time in Alexandria, he endured the loss of his mother, Ghanima Jassem Boudi, but remained focused on his studies, later pursuing a higher education degree in Business Administration in the UK.
From a young age, he was deeply passionate about free trade and business.
He married Fawzia Sayed Ali Sayed Suleiman Al-Refai and had five children: Marzouq, Bader, Faisal, Hataf, and Heba.
The Kharafi Group: A Regional Business Empire
Under his leadership, the Kharafi Group became a regional powerhouse, operating in diverse sectors such as food, construction, energy, and finance.
Some of the notable companies under the group’s umbrella include:
- Americana (Kuwait Food Company)
- Wimpy
- TGI Fridays
- Cadbury Pizza Hut
- Cinnabon
- The National Electrical Works & Engineering Company
A Billionaire Visionary
Nasser Al-Kharafi was one of the richest men in the world before his passing.
In 2008, Forbes listed him and his family among the world’s wealthiest, with an estimated net worth of $14 billion.
Awards & Honors
His global influence and contributions earned him several prestigious awards, including:
- Independence Medal (2004) – Presented by King Abdullah II of Jordan
- Honorary Recognition (2003) – Awarded by Dr. Yahya Jammeh, President of Gambia
- Honorary Doctorate (2006) – From the American University of Beirut, recognizing his pioneering investment strategies and commitment to regional economic development
During the award ceremony, Al-Kharafi emphasized:
“Our group is committed to making a positive impact by introducing advanced technologies, fostering knowledge, supporting education, arts, sports, public health, and civil society initiatives.”
The Rise of the Kharafi Group
The Kharafi business legacy dates back to 1952, when Mohammed Abdulmohsen Al-Kharafi founded the company and became one of the main shareholders of the National Bank of Kuwait.
In 1976, Nasser Al-Kharafi established Nasser Al-Kharafi & Sons, expanding into construction, engineering, and trade.
Over time, he diversified investments, taking on roles such as:
- Chairman of Kharafi Group
- Chairman of the Egyptian-Kuwaiti Holding Company
- Board Member of the National Bank of Kuwait
- Chairman of Kuwait Food Company (Americana)
His business philosophy was deeply rooted in his commitment to the Arab world, believing that investing in the region was both an economic duty and a patriotic obligation.
Al-Kharafi built strong relationships with world leaders, particularly in Egypt, a country he considered the Arab world’s first line of defense.
Forbes Ranking & Recognition
Nasser Al-Kharafi was consistently ranked among the richest individuals globally, securing a top position on Forbes’ 2008 list, advancing six places from the previous year.
In his early years, he was an admirer of President Gamal Abdel Nasser, who awarded him the Republic Medal – First Class.
A Sudden Loss: Passing of a Business Icon
On April 17, 2011 (Jumada Al-Awwal 13, 1432H), Nasser Al-Kharafi passed away suddenly in Cairo due to a heart attack.
His business legacy and visionary leadership continue to shape the economic landscape of Kuwait, the Arab world, and beyond, making him one of the most influential figures in modern Arab business history.
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