Saudi businessman Mohammed Al-Aqeel, a pioneer in investment and commercial projects, significantly impacted the Kingdom’s economy with his extensive experience in finance and business.
Al-Aqeel and other prominent Saudi investors and economists significantly transformed the economy in line with Saudi Vision 2030.
Who is Muhammad Abdul Rahman Al-Aqeel?
A Saudi entrepreneur, founding member and Chairman of the Board of Directors of Jarir Marketing Company, owner of Jarir Bookstores.
After completing his studies at the King Fahd University of Petroleum and Minerals in the Kingdom of Saudi Arabia, Al-Aqeel went to the United States to complete his master’s degree at the University of California.
Then, upon his return to Saudi Arabia, he and his brothers founded Jarir Marketing Company, the world’s largest investment firm that engages in a variety of industries outside of marketing.
Muhammad Al-Aqeel’s real-world experiences
In 1979, Muhammad Al-Aqeel established Jarir Marketing Company to serve as the family business’s incubator. He later went on to found multiple other companies in various industries.
He established a furniture company, another for investment, and the Children’s Kingdom Kindergarten. He also founded Jarir Real Estate and Najd Schools.
Muhammad Al-Aqeel’s positions
Mohammed Al-Aqeel was the Chairman of the Board of Directors of Jarir Marketing Company, which primarily operates in the retail sector and includes Jarir Bookstores.
He also served on the boards of Al-Andalus Real Estate Company, Sanabel Company, Jarir Real Estate Company, Imtiaz Arabia Company, and other companies.
He served on the Board of Trustees of the King Abdulaziz and His Companions Foundation for Giftedness and Creativity – Mawhiba, the Centenary Fund, and a number of other institutions and initiatives.
The Jarir Foundation currently operates 47 bookstores across the Gulf region, and an Apple Store opened in November 2016 at the Jarir showroom in Riyadh.
The Saudi Al-Aqeel family’s wealth
The Al-Aqeel family ranked ninth in Saudi Arabia, with wealth exceeding the threshold of one and a half billion dollars according to an economic assessment of the size of wealth, which included 12 Arab families included in the classification.
This classification, which placed the Al-Aqeel family among the wealthiest families in the Arab Gulf countries, was based on certain economic controls, as well as on the market value of the stocks specified in the period between February 7, 2023 and March 17, 2023.
But most of the families that received this classification obtained their wealth from father to son, and none of these families has changed during the current period, except for the Al-Aqeel family, which had four brothers who established their business management since 1979 and developed their skills over time until they appeared in their current form.
Al-Aqeel family and Jarir Library
In the Malaz district, the Al-Aqeel family first engaged in some commercial ventures. In 1974, they acquired Jarir Bookstore, and the four brothers—Muhammad, Abdul Karim, Abdul Salam Abdullah, and Nasser—started growing the bookshop.
The business family Al-Aqeel took up residence in a small library before rising to prominence and becoming on par with the wealthy in the Arabian Gulf. Their success over the previous few decades allowed them to assess their place among the wealthiest families in the Arab world in 2023.