Bassam Alghanim is one of two heirs to Alghanim Industries, the multibillion-dollar Kuwaiti conglomerate with business in engineering, manufacturing, auto sales, restaurants, construction, insurance, travel and more. The University of California, Berkeley graduate and Los Angeles-based billionaire does not appear to be involved in operations of Alghanim Industries. He serves as consul general in Los Angeles for the Caribbean island nation of St. Kitts and Nevis. Until 2008 he served as chairman of Gulf Bank but left after the company lost about $800 million on a derivatives trade. The move led to a family feud and litigation over control of the company. Alghanim, with a net worth of $1.2 billion, is No. 54 on Los Angeles Business Journal’s list of Wealthiest Angelenos.
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