The Middle East’s Four Healthcare Billionaires 2026
For many years, real estate has been the main way people in the Middle East built great wealth. But now, a small group of business leaders has made billions of dollars in healthcare. They have built large companies by meeting the region’s growing need for private medical services. From hospitals to pharmacies, healthcare has quietly become one of the strongest industries for creating billionaires.
There are four healthcare billionaires in this group. Three are from Saudi Arabia, and one lives in the UAE. Together, they have a total wealth of $15.4 billion. Their success shows how fast private healthcare is growing in the region. More people, better health insurance, and strong government plans are helping this sector expand.
The healthcare services market in the Middle East and North Africa (MENA) was worth $241.1 billion in 2024. It is expected to grow to $412.25 billion by 2032. This means it will grow at a steady rate of about 7% every year. Saudi Arabia has the biggest share of this market, mainly because of its Vision 2030 plan, which supports private investment and development in healthcare.
Below are the four billionaires who built their wealth in healthcare.
1. Sulaiman Al Habib
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Net worth: $10.2 billion
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Age: 74
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Country: Saudi Arabia
Sulaiman Al Habib is the richest healthcare billionaire in the Middle East. His wealth is estimated at $10.2 billion.
He is the founder and chairman of Dr. Sulaiman Al Habib Medical Services Group (HMG). He started the company in Riyadh in 1993. Today, it runs hospitals, medical centers, pharmacies, and home healthcare services in Saudi Arabia, the UAE, and Bahrain.
In 2025, the company earned $3.7 billion in revenue. This was a 22.4% increase compared to the previous year. Its net profit reached $640 million. The strong growth came from more patients, higher hospital use, and the opening of six new hospitals in 2024 and 2025.
Al Habib listed his company on the Saudi stock market (Tadawul) in 2020 through a $700 million IPO. Today, the group operates 20 medical facilities across three countries. It is also working on building Saudi Arabia’s first private medical city.
2. Abdullah Amer Al Nahdi
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Net worth: $2 billion
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Age: 65
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Country: Saudi Arabia
Abdullah Amer Al Nahdi is the vice chairman of Nahdi Medical, the largest pharmacy chain in Saudi Arabia.
The company was founded in Jeddah in 1986. It has grown into a large network of more than 1,220 pharmacies across Saudi Arabia and the UAE.
Nahdi Medical went public in 2022 on the Saudi stock exchange. In 2025, the company reported $2.7 billion in revenue, showing an 8.1% increase from the previous year. Its net profit reached $221.6 million.
The company’s growth was supported by expansion in healthcare services and strong business performance in the UAE. Revenue in its healthcare services grew by 75.3%, while its UAE business grew by 35.5%.
3. Shamsheer Vayalil
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Net worth: $1.8 billion
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Age: 49
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Country: UAE
Shamsheer Vayalil is the founder and chairman of Burjeel Holdings, a major healthcare company.
He was born in Kerala, India. He started his first hospital in Abu Dhabi in 2007. Since then, he has expanded the company to the UAE, Oman, India, and Europe.
Today, Burjeel Holdings operates 22 hospitals and more than 125 healthcare centers. It employs over 13,000 people.
In 2025, the company’s revenue increased by 9.8% to $1.5 billion. Its net profit reached $136.9 million. This growth came from more patients, better profit margins, and new facilities opening across its network.
Vayalil is one of the youngest billionaires in the region. He is also the only healthcare billionaire based in the UAE on this list. His success shows how the UAE is becoming an important center for private healthcare, especially with its large expatriate population.
4. Yousuf Mohammad Jamjoom
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Net worth: $1.4 billion
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Age: 96
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Country: Saudi Arabia
Yousuf Mohammad Jamjoom is the founder of Jamjoom Pharma and a key figure in the Saudi pharmaceutical industry.
He started the company in Jeddah in 1994. Today, it produces over-the-counter medicines and has 147 brands. The company has been supplying medicines to the Saudi market for many years.
Jamjoom Pharma went public in 2023, raising $336 million in one of the largest pharmaceutical IPOs in Saudi Arabia that year.
In 2025, the company reported revenue of $399.9 million, which was a 13.8% increase from the previous year. Its net profit reached $123.6 million. Growth came from strong demand, new product launches, and contributions from its joint venture in Algeria.
At 96 years old, Jamjoom is one of the oldest billionaires in the region. His success shows the importance of local pharmaceutical production, especially in a region that has long depended on imported medicines.
The Market Behind Their Success
Together, these four billionaires have a total wealth of $15.4 billion. Their success reflects the growing amount of private investment in healthcare across the Gulf region. Three of them are from Saudi Arabia, showing the country’s strong role in healthcare development.
Saudi Arabia’s healthcare system is going through major changes. Under Vision 2030, the government wants to increase private sector involvement from 40% to 65% by 2030. This means more opportunities for private companies.
The government also plans to privatize 290 hospitals and 2,300 primary health centers. This will create many business opportunities for hospital groups, pharmacy chains, and pharmaceutical companies.
The healthcare market in the Gulf Cooperation Council (GCC) is also changing because of population trends. People are living longer, and chronic diseases are increasing. This is partly due to unhealthy diets and less physical activity.
At the same time, governments are expanding health insurance programs. This means more people can afford private healthcare services. As a result, private hospitals and clinics are seeing more patients.
Conclusion
Healthcare is becoming one of the most important industries in the Middle East. While real estate once dominated wealth creation, healthcare is now growing quickly and creating new billionaires.
The four individuals on this list have built strong businesses that meet the region’s rising demand for medical services. With growing populations, better insurance systems, and government support, the healthcare sector is expected to continue expanding in the coming years.
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