Net Worth: $1.8 billion
LAST YEAR: $1.7 billion
CHANGE: 5.90%
AGE: 72
RESIDENCE: Bel Air
SOURCE OF WEALTH: Inheritance, investments
The Kuwaiti billionaire, whose wealth comes primarily from inheritance, has most recently focused his attention on establishing a foothold in Canada’s cannabis industry via his ownership of the Vancouver-based BZAM Ltd., a multi-licensed cannabis producer. But Alghanim sold the company’s Canadian assets in order to enter creditor protection in June. Real estate – particularly in Bel Air – has historically been an area of interest for the media-averse Alghanim. Alghanim also serves as the Los Angeles consul for the Caribbean island nation of St. Kitts and Nevis.
Inheritance: As part of an agreement that dates to the 1970s, Alghanim and his brother, Kutayba, each inherited half of Alghanim Industries after their father Yusuf’s death.
Real Estate: Alghanim owns several adjoining properties in Bel Air valued at about $150 million, including an $8.65 million mansion bought from Steve Winn, the casino magnate, who picked up the property from Joe Francis of “Girls Gone Wild” fame.
