NAJIB MIKATI • Net Worth $3 Billion • House • Yacht • Private Jet • M1 Group

Name:Najib Mikati
Net Worth:$3 billion
Source of Wealth:M1 Group
Born:November 24, 1955
Children:Mira Mikati, Malick Mikati, Maher Mikati
Private Jet:(T7-MIK) Dassault Falcon 8X

Who is Najib Mikati?

Born on November 24, 1955, Najib Mikati has built an illustrious career spanning various sectors. He is most notably the co-founder of the M1 Group, a substantial and influential conglomerate. With a family comprising his wife and three children (Mira Mikati, Malick Mikati, Maher Mikati), Mikati’s life has been a testament to his hard work and perseverance. His portfolio also includes political success as he served as the Prime Minister of Lebanon in 2005 and again from 2011 to 2014.

Key Takeaways:

  • Najib Mikati is the co-founder of M1 Group and has also served as the Prime Minister of Lebanon twice.
  • Investcom, co-founded by Najib Mikati and his brother Taha, was one of the largest telecom providers in Africa and the Middle East before its $5.5 billion sale to MTN Group.
  • Following the sale, the M1 Group became the largest shareholder in MTN and diversified into real estate, commercial jets, and fashion.
  • The Mikati brothers are active philanthropists, working through the Mikati Foundation to improve lives in the developing world.
  • Each of the Mikati brothers has an estimated net worth of $3 billion, putting the family’s combined net worth at $6 billion.
  • He is the owner of the Mimtee Yacht.

The Genesis and Growth of Investcom

In collaboration with his brother, Taha, a former Lebanese Prime Minister, Mikati co-founded the Lebanese telecom group Investcom. In no time, Investcom ascended to become one of the largest telecom providers in Africa and the Middle East, with an impressive customer base of 5 million. Operating under the Areeba brand name, the company’s influence was felt across countries like Benin, Cyprus, Ghana, Guinea Bissau, Liberia, Sudan, Syria, and Yemen.

A Landmark Sale Worth $5.5 Billion

Investcom made history in 2005 with its Initial Public Offering (IPO) on the London Stock Exchange, which was the biggest IPO by a Middle Eastern company at that time, raising an impressive $740 million. The following year, South Africa-based MTN Group acquired Investcom for a staggering $5.5 billion, turning the Mikati brothers into the richest people in Lebanon.

The M1 Group: A Diverse Conglomerate

Post the sale of Investcom, the Mikati brothers’ holding company, the M1 Group, became the largest shareholder in MTN. The M1 Group diversified its business portfolio, venturing into real estate, commercial jets, and fashion, with its ownership of the renowned fashion brand Faconnable.

The Mikati Brothers: Philanthropists at Heart

Beyond their business endeavors, Taha and Najib Mikati are prominent philanthropists. Through their Mikati Foundation, they are committed to improving the welfare and potential of people in the developing world, with a special focus on the Arab World and Africa.

Unveiling the Mikati Family’s Net Worth

With an estimated net worth of $3 billion each, the combined net worth of the Mikati family stands at a monumental $6 billion, underlining the family’s commercial success and immense wealth.

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Yacht Mimtee Owner

Najib Mikati

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Mikati Yacht Mimtee

He is the owner of the luxury yacht Mimtee. He previously owned a smaller yacht also named Mimtee. He sold the yacht to the Pritzker family, who named her Ramble on Rose.

The Mimtee yacht was meticulously built by CRN and artfully designed by Zuccon International Project in 2019.

With powerful Caterpillar engines, she can cruise at 12 knots and reach a top speed of 16 knots with a range exceeding 3000 nm.

Luxury features include a beach club, a gym, a massage room, an elevator, a bar, two Jacuzzis, and a helicopter platform.