Ibrahim Al Muhaidib, chairman of HDB Group and owner of several hotels and towers—including Riyadh’s iconic Tuwaiq Tower—has debuted on a 2026 ranking of the world’s richest Arabs, securing the 22nd spot with an estimated net worth of $2.1 billion.
Billionaire debut
With this debut, the 39-year-old becomes the youngest Saudi billionaire this year and the youngest in the Kingdom’s real estate sector. Elsewhere in the region, the UAE’s Abbas Sajwani—son of developer Hussain Sajwani—stands out as the youngest real estate billionaire and the first in the sector globally to reach billionaire status before the age of 30.
Al Muhaidib, whose portfolio includes a wide range of real estate assets and investments across Saudi Arabia, is currently the Kingdom’s only billionaire in the real estate sector on the 2026 rich list, while the UAE accounts for the majority of entries in this category.
He has served as chairman of HDB Group since 1998. Under his leadership, the company has completed more than 20 projects across the medical, real estate, and hospitality sectors, with 18 large-scale developments currently underway. Completed projects are valued at approximately $1.35 billion, while ongoing developments are estimated at $1.87 billion, according to company figures.
Beyond real estate, the Saudi business leader founded Safwat Al-Muhaidib Dental Company, which operates over 70 branches across the Kingdom.
In addition to his business ventures, he briefly served as president of Saudi football club Al-Nassr in 2024.
Kingdom’s business tycoons
Saudi Arabia tops the 2026 rankings with the highest concentration of wealth in the Arab region, boasting 12 billionaires whose combined fortunes reach $50.4 billion. Prince Alwaleed Bin Talal Alsaud remains the richest Arab globally, with his net worth rising to $19.9 billion, up from $16.5 billion in 2025.
After a seven-year gap, the Kingdom returned to the global billionaires rankings in 2025, largely driven by a surge of IPOs on the Saudi Exchange. This momentum has continued into 2026, with Saudi business leaders now accounting for nearly one-third of Arab billionaires and more than a third of the region’s total wealth.
Al Muhaidib’s cousins—Emad, Sulaiman, and Essam—are also included among the richest Arabs in 2026.
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