| Name: | Dr Nasser Al Rasheed |
| Net Worth: | $ 8 billion |
| Source of Wealth: | Rasheed Engineering |
| Born: | 1939 |
| Age: | |
| Country: | Saudi Arabia |
| Wife: | Safia El Malqui |
| Children: | 9; six sons, three daughters |
| Residence: | Sulaymanya, Riyadh, Saudi Arabia |
| Private Jet: | Gulfstream G550 (VP-BNR), Gulfstream G650 (VP-CNR) |
| Yacht | Lady Moura |
Dr. Nasser al Rashid, born in 1939, is a renowned figure in the world of finance and engineering, boasting the title of a Saudi Arabian billionaire. His substantial wealth is majorly attributed to the success of his firm, Rashid Engineering, which he founded and has made significant contributions to Saudi Arabia’s infrastructure. Dr. Rashid has also extended his influence to the field of education, with his alma mater, the University of Texas, naming the Dr. Nasser Al-Rashid Strength and Training Center in his honor.
Residing in the large and affluent area of Sulaymaniyah in Riyadh, Dr. Rashid’s personal life has also been touched with prominence. He was married to the well-known socialite, Mouna Ayoub. Since the early 2000s, he has been married to a Belgian-Algerian woman named Safia El Malqui.
The immense wealth of Dr. Nasser al Rashid has been a topic of speculation over the years. In 2009, Forbes estimated his net worth to be $8 billion. However, certain online rumors suggest that it could be around US$ 20 billion, placing him among the richest individuals globally.
Rashid Engineering, headquartered in Riyadh, Saudi Arabia, is a full-service consulting engineering firm. Founded by Dr. Rashid in 1975, it has been instrumental in overseeing major government construction projects within the Kingdom of Saudi Arabia. After demonstrating significant success in early projects, Dr. Rashid was appointed as Engineering Consultant to the Royal Court. This led Rashid Engineering to be involved in constructing various prestigious structures, including royal palaces, government buildings, highways, tunnels, and hotels throughout Saudi Arabia.
Not just a successful entrepreneur, Dr. Al-Rashid is also a generous philanthropist. He has donated hundreds of millions of dollars to various causes. Significant contributions include $140 million for the King Fahd National Centre for Children’s Cancer and Research, which he built, and a $40 million donation to establish a large orphanage center. In 2012, he donated $10 million to the Bascom Palmer Eye Institute at the University of Miami. Moreover, Al-Rashid holds a board membership at the exclusive Equestrian Club of Riyadh.
True to his billionaire status, Dr. Al-Rashid owns at least two private jets. One is a Gulfstream G550 with registration VP-BNR and the other is a Gulfstream G650 with registration number VP-CNR. More about his life and ventures can be found on his website.
The influence of Dr. Nasser al Rashid seems to have percolated to the next generation as well. His son Ibrahim al Rashid owns a sprawling house in Miami, flaunting the family’s opulence.
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We believe he lives in Riyadh, but we have not been able to identify his residence. Nasser’s son Ibrahim al Rashid owns a large house in Miami.
Riyadh, the capital of Saudi Arabia, is a dynamic city that beautifully blends the traditional and the modern. Serving as the country’s financial hub, Riyadh is home to numerous multinational corporations and a skyline adorned with towering skyscrapers. Despite its cosmopolitan character, the city carries a rich historical charm, with landmarks like the Masmak Fortress and the King Abdulaziz Historical Center.
The city’s bustling lifestyle is punctuated by vibrant souks, such as the Souq Al Zal and Gold Souk, which offer a treasure trove of traditional arts, crafts, and jewelry. The city also hosts a myriad of cultural and entertainment venues, like the King Fahd Cultural Centre and the Riyadh Park Mall, one of the largest in the country. Riyadh’s cuisine reflects its cultural diversity, offering a rich culinary experience, from traditional Arabic dishes to global favorites. Riyadh’s public spaces, such as the King Abdullah Park and the Salam Park, offer tranquil oases amid the urban hustle.
The city is also an epicenter of higher education, with prestigious institutions like King Saud University and the Riyadh Techno Valley science park. Sustainable development is a key priority for Riyadh, as it transitions towards renewable energy and smart city technologies. In essence, Riyadh is a city that proudly carries its past while ambitiously paving the way towards a bright and sustainable future.
He was owner of the yacht Lady Moura, which he listed for sale asking $125 million. We are not sure if he is building a new yacht. He sold Lady Moura to Mexican billionaire Ricardo Salinas Pliego.
The Lady Moura yacht, measuring 105 meters in length, is among the world’s largest and most voluminous superyachts.
Crafted by Blohm and Voss, the yacht features powerful Deutz diesel engines and gold-plated insignia.
Lady Moura accommodates 27 guests and a crew of 71, and features luxurious tenders, including a Sikorsky S76C+ helicopter.
With a value of $125 million and annual running costs of $12 million, Lady Moura represents the pinnacle of luxury and opulence.
