Who is Najib Mikati?
Najib Mikati is the co-founder of M1 Group. He was born on November 24, 1955. He is married and has 3 children (Mira Mikati, Malick Mikati, Maher Mikati). He served as Prime Minister of Lebanon in 2005 and from 2011 to 2014.
Mikati co-founded the Lebanese telecom group Investcom together with his brother, the former Lebanese Prime minister Taha.
Investcom became one the largest telecom providers in Africa and the Middle East, with 5 million customers.
Using the Areeba brand name, the company was active in Benin, Cyprus, Ghana, Guinea Bissau, Liberia, Sudan, Syria and Yemen.
Sold for US$ 5.5 Billion
Investcom’s 2005 IPO on the London stock exchange was the biggest IPO by a Middle Eastern company, raising USD 740 million.
In 2006 the company was acquired by South Africa-based MTN Group, for USD 5.5 billion. The Mikati brothers became the richest people in Lebanon.
Their holding company M1 Group is the largest shareholder in MTN and is active in real estate, commercial jets, and fashion. The M1 Group owns the well-known fashion brand Faconnable.
Taha and Najib Mikati are active philanthropists, through their Mikati Foundation. The foundation’s goal is to improve the welfare and potential of people in the developing world, particularly in the Arab World and Africa.
Mikati Net Worth
Taha and Najib each have an estimated net worth of $3billion. This brings the net worth of the family to $6 billion.
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Najib Mikati House
Mikati lives in a large palace in Tripoli. The residence is situated in the coast, near the city center.