Dr. Sulaiman Abdulaziz Al Habib presently holds the fifth position among the wealthiest physicians, as per Bloomberg and Forbes. He joins an exclusive cohort of highly affluent medical professionals globally, including Miriam Adelson and Thomas Frist. Miriam Adelson, the widow of casino magnate Sheldon Adelson, boasts a net worth of USD34 billion, while Thomas Frist, co-founder of HCA Healthcare Inc., is valued at $25 billion.
Soaring profits at his healthcare giant, Sulaiman Al Habib Medical Services Group, have propelled Dr. Al Habib’s net worth to $12 billion, restoring him to the ranks of the Middle East’s wealthiest individuals.
In his early 70s, Sulaiman Al Habib founded a $28 billion healthcare chain in 1993, transforming it from a single clinic to a sprawling network of 22 medical facilities and 22 pharmacies across Saudi Arabia, the UAE, and Bahrain. Ten hospitals and medical centers are also under development, further solidifying his company’s position as a regional healthcare leader.
Apart from healthcare, Al Habib invests in commercial real estate through a holding company, as disclosed in Dr. Sulaiman Al Habib Medical Services Group Co.’s IPO prospectus. With a medical degree from Riyadh’s King Saud University in 1977 and a fellowship in pediatrics from the British Royal College of Physicians in 1984, Al Habib has held key medical roles in government-owned hospitals in Riyadh.
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Most of Al Habib's net worth stems from his stake in his publicly traded healthcare group, Dr. Sulaiman Abdulaziz Al Habib Medical Services Group company. It began trading on the Saudi stock exchange in 2020.
Al Habib owns 40.03 percent of the stock directly, according to the Saudi exchange website in January 2024.
His cash holdings are valued based on an analysis of dividends, proceeds from the initial public offering, taxes, insider transactions and market performance.
Biography
Education: King Saud University
Al Habib founded his eponymous health care company in 1995 when he helped start a hospital in the Al Olaya district of Riyadh. The Olaya Medical Complex grew to become one of the biggest health facilities in the region and its parent company, the Dr. Sulaiman Abdulaziz Al Habib Medical Services Group Company, is one of the largest providers of medical care in the Middle East. The company went public on the Saudi stock exchange in 2020.
The group operates hospitals, outpatient clinics, pharmacies and medical labs, all of which are primarily located in Saudi Arabia.
A trained pediatrician, Al Habib earned his bachelor's degree in medicine from King Saud University in 1977 and completed a fellowship in pediatrics from the British Royal College of Physicians seven years later.
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