Net Worth: $1.7 B

LAST YEAR: 1.8

CHANGE: -5.5%

AGE: 71

RESIDENCE: Bel Air

SOURCE OF WEALTH: Inheritance, investments



THE MONEY: The Kuwaiti billionaire, whose wealth comes primarily from inheritance, has recently shifted his focus to establishing a foothold in Canada’s cannabis industry. He has increasingly stepped up his investment in the multilicensed cannabis producer Bzam, headquartered in Vancouver. A $3.7 million investment in May brought his total number of common shares in the company to 50.3%, according to recent regulatory filings. Real estate – particularly in Bel Air – has historically been an area of interest for the media-averse Alghanim.



THE BUZZ: As part of an agreement that dates to the 1970s, Alghanim and his brother, Kutayba, each inherited half of Alghanim Industries after their father’s death, splitting control of the multibillion-dollar conglomerate. The company, one of the largest privately held companies in the Persian Gulf, was founded in 1932 and employs more than 12,000. Alghanim has disparate business interests. His most prominent venture is the company Bzam Management, which is buying and developing cannabis assets in British Columbia and Alberta.