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156 views100 pagesForbes Middle East English Edition - November 2024
The document highlights the achievements of the Class of 2024 in Forbes' 30 Under 20 list, showcasing young innovators and leaders from the MENA region across various fields such as sports, entrepreneurship, and social impact. It emphasizes the resilience and forward-thinking nature of this generation, particularly in the face of global challenges like climate change. The issue also features notable alumni who have continued to excel since their initial recognition, further illustrating the growing influence of young talent in the region.
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0% found this document useful (0 votes)
156 views100 pagesForbes Middle East English Edition - November 2024
The document highlights the achievements of the Class of 2024 in Forbes' 30 Under 20 list, showcasing young innovators and leaders from the MENA region across various fields such as sports, entrepreneurship, and social impact. It emphasizes the resilience and forward-thinking nature of this generation, particularly in the face of global challenges like climate change. The issue also features notable alumni who have continued to excel since their initial recognition, further illustrating the growing influence of young talent in the region.
Uploaded by
Claudiu Marius RCopyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF or read online on Scribd
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Class of 2024
By Claudine Coletti
‘UNDER 20
121 50 Under 50 Alumni: Bigger & Better
Since being featured on our 30 Under 20, these standout
tlurmni have continued to push boundarias, achieving
remarkable milestones across sports and entrepreneurship,
By Sara Junaté
BILLIONAIRES.
141 The World's 5 Youngest Billionaires,
‘The world’s five youngest bilionaites have acquired their
wealth through inheritance. They are not invelved inthe
‘operations ofthe companies in which they own stakes. Net
worths are as of October 2024, when their collective fortune
stood at $13 billion,
By Syed Seadain Gardezi
‘STARTUPS & ENTREPRENEURSHI
World's Top 5 Most Valuable Unicorns
‘Those five most valuable unicorns are redefining everything
from media and technology to finance and retail Based on the
latest figures from CB Insights, the compony valuations are as
of October 2024.
By Muhammad Addam
%
LEADERSHIP
181 Sustainability Priorit
Eastern Youth
‘The Middle East's youth are crving the region's sustainability
‘agenda, with bold priorities focused on clean water, quality
‘education, healtheate, and more,
By Jamila Gandhi
201 MENA’s Youngest M
From athletes to seasoned diplomats, these dynamic leaders—
all under the age of 35 based on available data-arehelping
reshape the region
By Sara Junaid
es for Middle
CONTRARIAN
221 Bling Billionaire
Jewelers sell sentiment. ut Matthew Stuller made
‘a ten-figure fertune in gold and diamonds by focusing
onlogistcs,notlove
By Christopher Helman
961 Thoughts On Social Media
CONTENTS
261 Top 10 Talent Managers
Making Moves in the Middle Fast
‘The Middle East's media and entertoinment sector was
valued at $4.5 billion in 2024 andi projected to reach
$50.10 bilion by 2029, according to Mordor inteligence.
Celebrities and influencers are playing key ole inthe
economy, and dedicated agencies are there to provide
expertise tonavigate this landscape.
421 Taking the Stage
Lebanese DJ Chloe Kteily mixes Arabic music with new
beats to create a modem sound that opens up traditional
‘Arabic music to younger cudionce. na world where
male DJ sil toke the lnad, she's showing what the next
generation of female artists can do,
ByLayan Abo Shkier
86) First Team
Abdullah Aljassim and Abdulaaiz Alhumeid, cofounders
of Saudi-based ticket exchange and resale platform
GrintaHub, have ventured into an untapped sector. Now,
they aim to double their customer base, bolstered by the
expanding events industry in Saudi Arabia
By Hagar Omran
681 \I's New Role in Diagnostics
Noraldlin A-Der, Founder and CEO of EICADD, has created
ofrsv-cf.itekind Al-powered diagnostic tal that’s etting
new stondards in peciatic healthcare, Pushing the frontiers
cof neurodevelopmental sence, his works reshaping how
‘the world addressos developmental challenges.
By Jamita Gandhi
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Class of 2024
is year, we reveal our 30 Under 0 for 2024s the world is on the precipice ofehange. While many may
ceurrently be feeling uncertain about the future, and others may be feeling optimistic, with our November
issue, we focus on hope. The nest generation is way ahead of the times, prioritizing the preservation of
the planet, the growth of inclasive communities, and the use of scientific advancement and technology
toimprove and prolonglives. This month we celebrate young innovators, entrepreneurs, and stars based
inor from MENA, who are now part of the ineredible Forbes Under 30 eommunity
‘This year’s list features older millennials (aged between 28 and 30 in 2024) and early Gen Z-ers (born
from 1997 onwards). As such, for many of them, uncertainty is par for the course. Most were atthe start,
of their eareers just before a global pandemic fundamentally changed how we work and communicate,
‘Some only entered the workforce after lockdownsended. Research by Linkedla suggests that as they have
‘mostly had to navigate hybrid or remote working environments, many Gen Z, workers may miss some of
the informal observations and vital euesthat traditionally guide behavior, collaboration, and networking,
“Meanwhile, according to MeKinsey & Company, Gen Zin general ate socially progressive dreamers who
believe in doing their part to fight climate change and achieve greater equity for all
Our 30 Under 20 for 2024 features 120 entries neross four categories: sports and entertainment,
‘commerce and finance, science and technology, and socal impact. The three youngest teenage trailblazers
this yearare in thesports and entertainment eategory: Algerian-French atistie gymnast, Kayla Nemour,
aged 17, beeame the first Algerian ever to bag a gold medal inthe Paris 2024 Olympics. The Iraqi para
table tennis player, Najlah Imad, aged 19, won a gold medal in the WS6 women’s singles category at the
Paris 2024 Paralympics to become Iraq's ist female Paralympic gold medalist, And 19-year-old Lebanese
content creator, Rayan Hayek, hosts Arab celebrities on his Taynetna’ show on YouTube.
In commerce and finance, our youngest entries are the 22-year-old Qatari Marcus Munjoma,
cofounder of BaytTravel, a luxurious vaeation home rental online marketplace that facilitates
connections between locals, expats, and travelers, and the 22-year-old Egyptian entrepreneur Fatma
Youssef, Cofounder of Fat’s. Our youngest entry in science and technology is 22-year-old Iranian
Alireza Daneshvar, cofounder of Pioncera Biosciences, which focuses on advanced cell and gene
therapies. And in social impact, our youngest entries are Lebanese Marina El Khawand and Egypt
Youssef Abdelhamid, both also 22. EI Khawand isthe founder and president of Medonations, whieh
provides free medical assistance in Lebanon, and Abdelhamid cofounded Tutorua, an app that helps
"undergraduate students get support from peers who have done their course before.
Everyone in our Under 30 community has shown a commitment to connecting people, excelling in
their fields, and having an impact on the world, Next month well be celebrating them once again as we
hhost our Under 30 Summit in Abu Dhabi. Check out our website to find out more details, and enjoy
learning more about this year’s impressive young cohort. @
Claudine Coletti, Managing Editor
FORBESMIDDLEEAST.COM NOVEMBER 2024 TAPESTRY COLLECTION
byHilton’
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INNOVATING SINCE 2010
NOVEMBER 9024 ISSUE 145
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- LEADERBOARD,
Under 30
30 Under 50 Alumni:
Bigger & Better
Since being featured on our 30 Under 20, these
standout alumni have continued to push boundaries,
‘achieving remarkable milestones across sports and
entrepreneurship.
)
QATAR
* Achraf Hakimi
Nationality: Moroccan
Occupation: Soccer Player
Footballer Hokimi was
featured on our 30 Under
30 list in 2019 and signed @
five-year contract for Paris,
Saint-Germain in 2021. In the
2021/22 season, he played o
total of matches, including
{32in Ligue lend eight inthe
CChompions League, making
him the second mostused
player of the season. He also
became French champion
with the Rouge et Blou. In
the 2022/23 season, he wos
crowned champion for the
second consecutive season
‘ond wass named in the
league's Team of the Yeor. In
‘August 2024, the Atias Lions,
of which Hakim is captain,
won Morocco's first-ever
medal at the Men's Olympic
Football Tournament. The
26-year-old football player
similarly lad Morocco to the
semi-finals at the FIFA World
Cup Qatar 2022, making it the
AT
first African nation to reach
that stage in the tournament,
His market value was $64.8
nrllion as of October 25,2024,
according to Transfermarkt,
Shane Shin
Nationality: Canadian-Korean
Occupation: Founding
Partner at Shoroog Partners
Shin appeared on our 30
Under 30 lit in 2019, He hos
boena founding partner
at Shoroog Partners since
2017, which became the
firstregionel VC firm to be
licensed by the Abu Dhabi
Global Market. In April 2024,
the company announced
the closing of ts third VC
fund the Beclaya Fund I,
sat over $160 milion. In July
2024, Shoroog Partners led a
$20 milion financing round
for Saudi Al startup intelmatix,
Inthe same month, it co-led
19897 milion seties A round in
144.01, an Omani climate toch
company. Shins @ Kauffman
Fellow, and @ board member
for portfolio companios ike
‘TrukKer, Lando, NymCard,
VUZ, Retailo Technologies,
cond Penny Software.
‘Occupation: Swimmer
‘Osman was on our 30 Under
30 in 2020. A competitive
swimmer, she broke the
African record in the 50m
‘ond 100m butterfly World
‘Aquatics Championships
in Budapest in 2022 and
won bronze at the 50m
Butterfly event at the
‘championships in Doha
in February 2024. Osman
is. three-time Olympian,
having represented Egypt in
London 2012, Rio 2016, and
Tokyo 2020. The 29-year-old
swimmer is 4 2024 African
Games gold medalist, with
ight medals as of March
2024,
= Mutaz Barshim
Nationality: Qatari
‘Occupation: High Jumper
Borshim was featured on
‘our 30 Under 20 lst in 2021
He recorcled the second:
highest jump in history at
2.49 meters in 2014. He is
known for shoring gold with
Italy's Gianmarce Tamberi
‘atthe Tokyo 2020 Olympics
‘after both jumped 2.37
meters. Also, at Tokyo 2020,
he became the fret Qatari
‘Olympies champion in
‘thletics, and the second in
‘any sport. At the Paris 2024
‘Olympics, he was Qatar's
Flagbearer for the opening
ceremony, and he secured
bronze with @ score of 2.24
meters, which isthe fourth
consecutive Olympic medal.
12022, Borshim became the
frst male high jumper to win
‘three consecutive world titles
in the World Championships,
having previously won in 2017
in London and 2019 in Doha
He is the brand ambassador
for Ooredoo Gatar, and he
was en ambassador for the
FIFA World Cup Qatar 2022.
‘The 33.yoar-old high jumper
ranked fourth in the men's
high jump in the world as of
October 22, 2024, according
10 World Athletics
+ Soufiane El Bakkali
Nationality: Moroccan
‘Occupation: Runner
£1 Bokkali appeared on our
£30 Under 30 list in 2021. At
‘the Paris 2024 Olympics, he
became the first man to win
‘wo consecutive 3,000-meter
steeplechase gold medals
ct the games since 1932.
He debuted atthe World
Championships in 2017,
where he won silver, then he
secured two goldsin 2022 in
Eugene, and in Budapest in
2023. In August 2024, King
Mohammed Vi received 8
Bokkali atthe Royal Polace
in Tetouan to award him
with the Al Arch Wissan of
the Commander's Orde,
for his achievements at the
‘Olympics. The 27-year-old
runner ranked firstin his,
category worldwide, 08 of
Cctober 22,2024, according
10 World Athletics.
Sara Samir
Nationality: Egyptian
‘Occupation: Weightlifter
Somir wos on our 30 Under 30
listin 2028, The 26:year-old
\weightifter won a siver medal
‘at the Paris 2024 Olympics, in
the women’s Slkg category,
scoring a combined lift of
268 kilograms. At the Rio
2016 Olympics, she became
the first Arab woman to ever
win an Olympic weightliting
medal, when she won bronze
in the women's 69kg category
with totel of 285 klograms,
‘She went on to win slverin
the 7ikg category at the 2018
IWE World, and gol in the
76kg category at the IWF in
2022 and 2023, Samir began
‘competing in 2010 while
her first intemetional
result was registered in
2012 atthe African Junior
‘Championships.
§
3
:
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ELGOUNA | > wwwelgouna.com LEADERBOARD,
Billionaires
The World’s 5 Youngest Billionaires
‘The world’s five youngest
jongires have acquired their wealth through inheritance. They are
not involved in the operaitions of the companies in which they own stakes. Net worths are as of
‘October 2024, when their collective fortune stood at $13.
1. Clemente Del Vecchio
‘Age: 20 + Net Werth: $5.2 billion
Source of wealth: Eyeglasses
Citizenship: Italian
Del Veechiois the son of Leonarde
Del Vecchio, the late chairman of
EssilorLuxottica, the world's biggest
‘eyeglasses company, which owns
bbrands such as Ray-Ban and Oakley.
in 2022, aged 18, he became the
world’s youngest blionaire when
he inherited a 12.5% stake in his
father’s Luxembourg-based holding
company, Delfin following his
death. According to Bloomberg, the
‘value of holdings at Delfin stood at
$43.5 billion os of June. As well as
EsslorLuxottiog, Delfin holds stakes
in Mediobanca and UniCredit banks,
insurance company Generali Group,
‘ond real estate developer Covivio.
Shareholders ofthe helding group.
received around $983 milion in
dividends lost year, while dividends
for 2024 are expected at $1. blion
‘The market cap of EssilorLuxottica
stood at $109.8 bilion as of October
2024, the gocl Leonardo Del Vecchio
s0t before he passed away in 2022.
2. Kim Jung-youn
‘Age: 20 + Net Worth: $1.5 billion
Souree of wealth: Online gaming
Citizenship: South Korean
.Jung-youn and her elder sister Jung-
‘min each hold an 18% stake in NXC,
the biggest sharaholder in the South
Korean online gaming giant Nexon.
They inherited the stake from their
{athor, Kim Jungrju, who founded the
‘gaming company in 1994 and died in
February 2022. As of 2021, he was the
third richest person in Korea, with a
net worth of $10.9 lion, according
to Forbes estimates Littie is known
‘about the two sisters, and they are
‘ot involved in Nexon’s operations
which had a market cop of $14.6
billion os of October 22, 2024.
FORBESMIDDLEEAST.COM
3. Livia Voigt
‘Age: 20 + Net Worth: $1.4 billion
Source of wealth: Industrial Machinery
Citizenships Brazilian
Voigt is one of the major individual
shareholders ofthe Brazil-based WEG,
the biggest manufacturer of electric,
motors in Latin America. Established
in 1961 by Voiat’s grandfather, Werner
Ricardo Voigt, clong with the late Eggon
Jodo da Silva and Geraldo Werninghaus,
the company also manufactures
generators, transformers, and electric
Quick facts
* $5.2 billion »
Clemente Del Vecchio, son of
Leonardo Del Vecchio, the late
chairman of EssilorLuxotticg,is the
richest of the youngest billionaires,
worth $5.2 bilion,
February 2022 «
‘The month that Clemente Del
Vecchio, Kim Jung-min, ond Kim
Jang-youn lost their fathers and
inherited their wealth
2 50% °
Of the five youngest billionaires,
Kevin David Lehmann owns
the largest stake in his family
business. He has a 50% stake in
Germanys leading drugstore chein,
dm-drogerie markt.
«3
Of the five youngest bilioncies in
the word, three ere women: Kim
slung-youn, Livia Voigt, and Kim
Sng-min.
controls. The company boasts branches
in él countries and manufacturing
facilities in countries, as of December
2023. Itrecorded revenues of $3.4
billion in H1 2024. Voigt does not hold
cany executive position at the company
(Fa seat on the board and is currently
‘attending university.
4. Kevin David Lehmann
‘Age: 22 « Net Worth: $3.4 billion
Source of wealth: Drugstores
Citizenship: German
Kevin David Lehmann owns @ 50%
stoko in Germany's leading drugstore
chain, dm-drogerie markt, which
boasts a network of aver 4,000 stores
‘across Europe, as of September 2023,
The company wats set up in 1973 with
its frst shop in Karlsruhe, Germany. A
yeor later, Kevin's father, Guenther,
Who was at that time running his
family’s Pfannkuch grocery chain,
invested in dm. He tronsferred his 50%
stoke in dm to his son in 2017. Neither
have been operationally involved in
cdm’s operations and litte is known
‘about them. The company generated
$12.1bilionin solesin Germany
in the 2022/23 financial year ending
September 2023 and achieved total
{group sales of $16.9 billion.
5. Kim Jung-min
‘Age: 22+ Net worth: $1.5 billion
Source of wealth: Online gaming
Citizenship: South Korean
Kim Jung-min owns an 18% stoke in
NXC, the biggest shareholder in the
‘South Korean online gaming giant
Nexon. Similar to her younger sister, Kim
-Jung-min, she inherited the bulk of her
‘take from her late father, Kim Jung,
\who founded the gaming company in
1994 and died in February 2022. n 2028,
Noxon generated $2.8 billion in revenues,
smarking a year-on-year rise of 209%. Jung
‘min isnot involved in Nexon’s operations,
cond litte isknown about her. Redefining
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7{)\S* HOLISTIC HEALING LEADERBOARD,
Startups & Entrepreneurship
World’s Top 5 Most Valuable Unicorns
These five most valuable unicorns are redefining everything from media and technology to finance and
retail. Based on the latest figures from CB Insights, the company valuations are as of October 2024.
* ByteDance
Based in Beijing, ByteDance is
‘global leader in media and
entertainment. Best known for
‘owning TikTok,itis backed by
investors ike Hongshan, SIG
Asia Investments, Sina Weibo,
‘and SoftBank Vision Fund. The
company, whichhas raised a
total of $74 billion in funding
through 16 rounds, based
‘on dota from CB Insights,
is preparing to secure
$10.8 lion loan, which will
be the largest US. dollar-
denominated corporate
ded in Asio-excluding
Japan-Bloomberg reported
in September, citing unnamed
sources. ByteDance's
cofounders Zhang Yiming and
Liang Rube have & net worth
‘of $45.6 illon and $22 bilion,
respectively, as of October
25, 2024, according to Forbes.
* SpaceX
Valuation: $209 blion
Country: US.
Backed by investors such as
Founders Fund, Draper Fisher
Jurvetson, and Rothenberg
Ventures, SpaceXis a global
forceiin the industrial sector,
headquartered in Hawthorne,
California, The company,
which hos raised o total of
$97 billion in funding through
‘A1rounds, based on date from
CB Insights, recently achieved
‘an engineering milestone by
returning its Starship booster
toits Texas leunch pad using
‘mechanical arms inite fifth
Starship test flight. SpaceX
is also pushing forward
with reusable spacecraft
to facilitate missions to the
‘moon and Mars. Elon Musk,
ee oe
Spacex's Founder, CEO,
and CTO, had a net worth of
$269.8 bilion as of October
25, 2024, according to Forbes.
*OpenAl
Valuation: $167 billion
Country: US.
Open, headquartered in
San Franciseo and backed
by Microsoft and Khosla
Ventures, isan enterprise
toch leader best known
for developing ChatGPT.
The company has secured
9 total of $24. billion in
funding across 19 rounds,
according to CB Insights. In
early October 2024, OpenAl
secured $8. blion in new
funding in addition to 0 $4
billion revolving line of credit,
boosting its liquidity to over
$0 billion and enabling
the startup to invest in new
initiatives. Sam Altman,
‘OpenAt’s CEO, had a personal
net worth of Sibillion as of
ctober 25,2024, based on
Forbes estimates,
*Stripe
Valuation: $70 billion
Country: US.
Stripe, aSan Francisco:
based fintech giant founded
bybilloncite brothers
Patrick and John Collison, is
backed by Khosla Ventures,
Lowercase Capital, and
Capital. As part ofits
‘expansion efforts, Stripe
‘acquired Bridge, a provider
of infrastructure for crypto
stablecoins, for $1. bilion
in October 2024, Stripe has
raised @ total of $10.1 billion
in funding across 31 rounds,
‘according to CB Insights.
(CEO and cofounder Patrick
Collson’s net worth stood at
$7.2bilion os of October 25,
£2024, according to Forbes,
(08 did his brother and the
President and cofounder’s
John.
© SHEIN
Valuation: $46 billion
‘Country: Singapore
Singapore-based SHEIN isa
fost-fashion retail behemoth
backed by investors including
Tiger Global Management,
Hongshan, and Shunwei
Capital. The retailers
preparing for an IPO in
London, pending China and
Ux. regulatory approval,
‘according to Bloomberg, In
2028, SHEIN's British division,
SHEIN Distribution UK Led,
Posted « 3695 surge in annual
revenue to $2 billion, SHEIN
has secured a total of $37
billion in funding across 10
rounds, according to CB
Insights.
FORBESMIDDLEEAST.COM
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INFORMATION AND. 966 12.696 8888 | RESERVATIONS. [email protected]
RESERVATIONS BURY ASSILA, CORNICHE ROAD, JEDDAH. LEADERBOARD,
‘The Middle East's youth
‘are becoming increasingly
focused on sustainability,
with strong views on the
importance of addressing
global challenges. According
to PwC's Micdle East Youth
(Outlook 2024 report, young
people aged 10 to 30 in the
region are growing more
‘aware of the United Notions"
Sustainable Development
Goals S0Gs) and how these
goals shape the future oftheir
societies. Youths’ concerns
‘ond priorities are crucial to
navigating its path toward
‘amore sustainable and
equitable future.
‘The report highlights
the differing perceptions of
who drives positive chonge
inthe region. Anotable
165% of young respondents
inthe Middle East believe
that governments are the
primary drivers of change
for people and the planet.
This contrasts with global
findings, whore only 38% of
youth view governments 0s
taking sufficient actionon
sustainability issues. In the
Middle East, only 459% of
young people feel that non-
governmental organizations
‘ond international
organizations ore leading
the way in addressing
environmental and social
challenges, suggesting
that there is significant
potential for these entities
to noreate their efforts and
engage youth in meaningful
When it comes tothe:
specific SDs that Middle
Eastern youth consider @
priority, their top concern
fs S06 6: Clean Water and
Sanitation, with 81% stating it
is very important. MENA is one
of the most water-sressed
Leadership
Sustainability Priorities for Middle Eastern Youth
The Middle East's youth are driving the region's sustainability agenda, with bold priorities focused on
clean water, quality education, healthcare, and more.
regions in the world, wth
9% of its population facing
extreme high water stross,
‘and projections suggest this
could reach 100% by 2050,
according to the Water
Resources Institute. To
address this, countries like
‘Saudi Arabia have invested in
desalination projects powered
by renewable energy,
including its 96 projects to
tenhance the infrastructure
for reusing treated water for
SAbillion announced during
the loth World Waster Forum
hold in Indonesia last May.
‘Another mostimportant
0G in the Mille East
‘among youth is SDG 4:
Quality Education also
with 81% stating itis very
important. Young people
boliave that access to
quality education is essential
for empowering future
generations and fostering
social mobility. Qatar has
also made significant strides
ineducation, with institutions
like Edveation City in Gator
home to eight universities
like Georgatown University in
‘Qatar and Hamad Bin Khalifa
University, and 18 schools with
‘over 10,000 students enrolled.
'$06 8-good health and
wellbeing ranks as the third
priority for Middle Eastern
‘youth, with 7696 naming it a8
“very important." reflecting
‘growing concern over the
ragion’s health challenges.
Non-communicable
diseases, such as diabetes
‘and cardiovascular issues,
‘account for 69-83% of deaths
in the GCC, making the
ragion one of the hardest hit
A
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Per each NaCl
Beer oe Matthew Gordy Stuller was
15when his mom dropped him off atthe library
in his hometown of Lafayette, Louisiana, so
he could catch up on studying. An indifferent
student, he ditched his books to wander around
downtown and spotted a “going steady" ring in
jewelry store window that he thought might
win over a particular girl. He persuaded the
store owner to sell him the $39.99 ring, whieh
succeeded in charming the young lady, for $5.
down and $5 a week. “Tye always been somewhat
of romantic,” he confides.
ot sentiment has litle todo with how Stuller,
now 73, has become America’s wholesale jewelry
king, with a net worth that Forbes estimates
at more than $1 billion. Instead, he has built
his fortune through a relentless focus on
‘manufueturing processes, logisties and satisfying
his retailer customers’ every need.
‘Stuller met that $5 weekly nut by delivering
papers, mowing lawns and washing ears. He
showed up every Saturday at 10 am. at the
jewelry store to make his payment, then hung
around to help. “They always needed their
windows cleaned,” he recalls. Before long, he had
«paid part-time job atthe shop, where the bench
jeweler taught him how to polish jewelry, size
rings and set stones. “I oved it,” he says
By his senior year of high school, Stuller was
hholing up late at night in the janitors closet at
his father’s dental practice repairing jewelry
and experimenting with lost-was casting (used
by dentists to produce bridges and erowns) to
fabricate missing parts like clasps and links. He
still needed to buy certain items. Yet when he
called the big distributors, he found them rude,
“Te was like you were interrupting their day.
‘What do you want?”
Stuller knew he eould do it better. So after
‘graduating 68th ina high school class of 69
and enduring one semester at the University of
Louisiana at Lafayette, he dropped outto start
selling wholesale to bench jewelers out of the
back of his new 1970 Datsun 2407. “Originally
HOW TOPLAY IT
By John Dobows
With brands that
include Zales, Kay
Jowolere and Jared,
Signet Jewelers
helargest etaer
of iamond jewelry
inthe United Storer,
here generated
SM ofite $72 billon
insalesin fal 2024
‘ended February
‘2.c£0 Virgina
Drosos is focused on
profitability. signers
‘etal foototint
shronk from 2482
‘oresin 2018 %0
2.67608 of Ap
Acquisiens of
wal retalore
Diamonds Direct in
2021 and Blue Nien
‘2022 helped to more
Sales, fom $498
milion n 20180 $6
Billion in 2028, Over
the same stretch, the
‘company went from
19 $657 milion lose
104890 milion innot
Teoma, Even with
csomings expected to
ecline Mths yoar,
Signet’ stock looks
cheap, priced at 63
‘mes earings, P/E
rato 33% below ite
Tiveryear average
John Dobos editor
‘of Forbe ilonaire
Investor, Forbes
Dividend Investor
‘and Forbes Premium
‘Income Report
Theatre
itwas just strietly gold parts, because thats all
ould make,” he says. Soon after, he found a
jewelry company in New Orleans that was going
‘out of business and bought its inventory and.
rolling display eases with a postdated cheek for
'$4,500, which he barely covered with a loan
from allocal bank at which, not coincidentally,
his father was a big eustomer. A few years later,
when his dad retired, Stller bought his dental
offices to house his ever-expanding collection of
equipment, including ovens, polishing devices and
‘centrifugal casting machine.
dad also helped with a key piece of advice:
Never take on a partner. "You will outwork a
partner,” his father reasoned. So why share equity?
Today, «half-century later, Stuller's eponymousiy
‘named, still 1002%-family-owned company
remains headquartered in Lafayette, where it has
its biggest production complex: 600,000 square
feet of laboratories, manufacturing and packaging,
employing 1,500 workers
‘Add in production from smaller plants in
‘Mexico, Thailand and India, and Stuller fulfills
fan average 6,000 orders a day including nearly
180,000 items, some sourced from other
‘manufacturers. A primary ingredient: gold bars.
Stuller melts enough to make more than 200
pounds per day of god alloys for eating.
‘The company books about $800 million
in annual sales and throws of $80 million to
‘$100 million in earnings before interest, taxes,
depreciation and amortization (Bbitda), Staller
says, Forbes estimates its worth atleast $800
million. (The remainder of his fortune comes from
the profits he has taken out ofthe operation.)
Stuller’s website highlights his wide range of
products: jewelers'tools, unmounted gemstones,
engagement rings, bespoke bracelets. He says
every jewelry retailer buys from him, even Tif-
fany, Harry Winston and Cartier. His biggest
client is Signet Jewelers, the parent company of
small-based giants Kay Jewelers, Zales and Jared.
His secret sauce? Logistics. For years, Stuller
personally hauled hundreds of tiny boxes to the
post office. Then he started putting couriers
fon Greyhound buses. In 1981, he had a eureka
‘moment when he met Fred Smith, founder
and CEO of then-10-year-old Feds. Today
dedicated FedEx and UPS jets sit on the tarmac
at the Lafayette airport waiting until Stuller’s
last-minute packages get loaded at 8 p.m. IF
customers in the continental U.S. place orders
by 5 pam. their time, Stuller guarantees they'll
receive the items the next morning, provided
they're not custom-made. “I just get the greatest
pleasure every day by shipping stuff on time,
he says.
FORBESMIDDLEEAST.COM =
ENTREPRENEURS
CONTRARIAN
Its a big relief for retailers,
100, who don’thave to carry
Tots of (very expensive)
inventory. "They ean get rid
of all their tackle boxes and
trays forall the finger sizes. I
will sll them anything they
want,” Stller says. Third-
generation New Orleans
jeweler Coleman Adler says
Stuller has brought the same
revolution to jewelry stores
that Sysco did to restaurants,
"You ean get it somewhere
else, and probably cheaper,
but not al from the same
place or as fast.
Stuller will sell anything to
anyone. In the early 20005,
he launched a new offering
of cultured pearls from the
South Seas and initially attempted to pump up
his own margin by limiting how many jewelers
he would sell to in any given market. “Customers
complained: ‘What do you mean you're not going
to sell it to me?" he says. He abandoned the
exclusivity experiment after a few years, “That's
the trick for a good business: Let your customer
‘make money; do not take the last dollar;
observes veteran diamond industry analyst
‘Martin Rapaport.
Stuller was a De Beers “sightholder” from
2005 to 2015, one of the select few chosen to
receive large shipments of rough stones from the
world’s largest diamond miner. But he found it
‘more trouble than it was worth. Better to buy
what he needed from preferred dealers and
Teave the cutting of the highest-end stones to
specialists
‘That's another key to Stuller’s suecess—
focusing on what he ean do better and
‘more efficiently. In his custom “Gemvision”
department, his employees transform a rough
sketch of a piece of jewelry into a high-resolution
three-dimensional computer file that they will
‘8D-print in plastic, ready for casting. That allows
Stuller to quickly full custom orders (many for
athletes and celebrities) like a recent pair of $2.2
rillion, 19-carat earrings. “There isn't anyone
who can do what they do,” says Rick Norris of
Rick’s Jewelers in California, Maryland, who has
been a bench jeweler for 47 years and is a big
Gemvision fan, “We used to do our own casting,
but it’s usually cheaper for me to design the ring
here and send them the CAD file rather than
firing up the machine.”
Midos Mon
Met Sule guar
produced from gold
ytogen-baring
ctor. (Bottom)
nutrosone clearing.
Staller is astonished by advances in 3D printing
and keen for more. "We can print in metal now,
but the finishes aren’ right and there’s too much
‘metal loss” he says. Just give it afew years. “T need.
to be on the cutting edge.”
‘Take synthetic diamonds, Chemically these are
real diamonds; they're just grown over wooks in
machines rather than formed over eons in the
‘earth, and they sell at retail for about a tenth of
the price of the traditional kind. Of the million-
plus diamonds of 0.2 carats or larger that Staller
sells each year, 80% are now man-made. But, rue
to form, he isn't sentimental about the decline
of pricey natural diamonds. Hell make up for it
in volume. “We will sell tenfold more diamond
Jewelry in the future than we sell today.” @
FINAL THOUGHT
“TTEND TO SPLURGE FOR
CONVENIENCE. TLL PAY ALOT
NOTTO WASTE TIME”
AD. Posey
FORBESMIDDLEEAST.COM PROMOTION
Al and the Giga-Projects
Shaping the Middle East
Federico Pienovi, Chief Business Officer & CEO for APAC & MENA at Globant, explains how Al
is transforming today’s world, and why the
he Middle Eastis transforming
technologically, with Al at
its center. The region is rapidly
‘evolving into a global hub for
innovation, driven by giga-projects
that serve as platforms for Al
integration on an unprecedented
sedle. In Saudi Arabia, projects
like NEOM, Giddiya, and Red
Sea tepresent more than just
urban planning innovations;
they are cognitive cities where
Alis embedded into daily life.
From predictive infrastructure
maintenance to Al-driven
resource management, these
cities are designed to learn and
adapt in real-time. This approach
enhances efficiency and redefines
the relationship between citizens and
their environment,
Al-Driven Innovation in Key Sectors
Artificial intelligence offers
transformative capabilities
across industries. In media and
entertainment, we are moving
beyond simple recommendation
algorithms. We are developing
systems that can predict and even
shape cultural trends, potentially
revolutionizing content creation
and distribution models. Al plays
@ more strategic role in sports,
enhancing athlete training, injury
prevention, and in-game decision-
making. The entire fan experience
is being transformed by it and the
shift could fundamentally alter how
sports are played and consumed
Meanwhile, the hospitality sector
is also evalving; Al systems are
being developed to anticipate
quest needs, offering seamless
Federico PionoUl, Chief Business Officer &
aed Lens
experiences that bridge service
with intuition,
At Globant, this moment
represents a critical juncture for
‘Al, marking a shift in real-time
development across industries.
The Middle East: The Next Global
Hub for Al
The Middle East can potentially
become the next global center for
Al. Its forward-thinking leadership,
significant investments, and robust
infrastructure are creating fertile
ground for entrepreneurs and
tech companies. The ecosystem
is designed to nurture innovation,
accelerate startups, and push the
limits of technology. The region's
ambitions are unparalleled, and its
influence on global Al development
is growing.
The Future of Work
As Al reshapes industries, itis
generating new job opportunities,
many of which were inconceivable
idle East is at the leading edge of change.
just a few years ago. However,
‘these opportunitias will be
accessible only to those
prepared to adapt and
continuously learn. Just as digital
influencers, YouTubers, and
streamers carved out entirely
new careers from platforms that
barely existed a decade ago,
Alwill pave the way for similar
transformations. We are already
witnessing the rise of roles such
as Al ethics specialists and
virtual environment designers.
Astificial inteligence is no longer
a distant future; it is here now,
offering new horizons for those
willing to embrace it.
Moving From Hype to Impact
‘The Middle East's move from Al hype
10 large-scale implementation offers
lessons for the global community.
Al's real value lies in transforming
entire systems and societies, not
just in isolated innovations. Projects
like NEOM may draw attention, but
the real challenge is embedding Al
into complex social, economic, and
regulatory frameworks, requiring
strong infrastructure, governance,
and skilled talent. The Middle East's
bold vision will face implementation
challenges, but as initiatives
progress, they are setting the global
standard for Al adoption.
Globant »
https://www.globant.com/
The thoughts expressed inthis advertorial are those ofthe cient. TALENT MANAGERS
Top 10 Talent Managers
Making Moves in the Middle East
The Middle East’s media and entertainment sector was valued at $41.13 billion in 2024 and
is projected to reach $59.10 billion by 2029, according to Mordor Intelligence. Celebrities
and influencers are playing a key role in the economy, and dedicated agencies are there to
provide expertise to navigate this landscape.
Celebrities and
influencers need strategie
support to manage their publie
nage and brand partnerships
online and ofine. From behind
the scenes, talent agencies
are supporting Arab stars like
Naney Ajram, ssa, Mohan
Ramadan, Ahmed Sead, and
‘Yasmine Sabri. Some also work
with international figures such
as Christiano Ronaldo, Neymar,
Megan Fox, Irina Shayk, Lewis
Hamilton, and Nelly Furtado.
Ovrlist ofthe Top 10 Talent
Managers Making Moves in
the Middle East highlights 12
leaders managing 10 agencies
rea
ea)
cight are based in the UAE,
three in Egypt, and one in
Lebanon,
g
that are shaping success for i
some ofthe region's most © Hady Hojjar i
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It focuses on agencies that weet :
primarily represent cele Beier ra 5
those focused on purely PI or euntivatocay «menial deal)
bowling, Of the 12 leaders, SeadikbraneOcoslcccnoneetretons, fe
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i
:
FORBESMIDDLEEAST.COM With the launch of its flagship
store at Dubai Hills Mall, the
brand quickly gained fame for
its signature Chocolate Drag-
ees, crafted from a unique and
irresistible recipe. This rapid
success fueled its expansion,
and now in 2024, Daima is cur-
rently operating 13 branches
across the UAE, solidifying its
position as a leader in gourmet
confections.
—=—9." o\
“ips
MILK CHOCOLATE
PISTACHIO AND.
RUNAFA
DAIMA
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www.daima.ae
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AND PE
‘DA TALENT MANAGERS
Alaa Karkou
Maher Diab
Cofounders
‘Company: MAD Solutions
Nationality: Syrian; Lebanese
Headquarters: Egypt
Residence: Egypt/UAL.
Established in: 2010
Karkouti and Diab cofounded
MAD Solutions in Cairo in 2010.08 @
distributor of Arabic-lenguage film
content. It currant operates in the
UAE, the US, and Portugal with
representatives in Tunisia, Morecco,
Palestine, Jordan, and Lebanon. Its
subsidiary MAD Celebrity manages
‘Arab celebrities, providing full talent
publicity management, festival
‘exposure, and consultancy. It manages
‘actors Yousera, Menna Shalaby, Ali
Suliman, Saba Mubarak, Kind Alloush
Razane Jammal, Ahmed Malek, Tara
Emed, and Huda EI Mufti, among
others. MAD Celebrity has three:
divisions: MAD Celebrity fer established
‘actors, MAD Rising Celebrity for rising
talents, and MAD Crew Celebrity for
camera ctew. Mohamed Hatem, who
‘appeared in the Emmy-nominated
series ‘Every Week Has a Friday
joined MAD Celebrity in October 2024
Karkouti and Diab also founded the
‘Arab Cinema Canter in 2015
Gosia Golda
Founder & CEO
Company: The MMG
Nationality: Polish
Headquarters: UAE.
Residence: UAC.
Established in: 2008
Golda established The MMG in 2008.
‘The MMG hos four main divisions: MMG.
Models, MMG Artists, MMG Talent, and
MMG Art Productions. The company
manages global and local celebrities
‘andinfluencers,ineluding Lucy Hale,
Alessandra Ambrosio, ina Shayk,
Georgina Rodriguez, Novak Djokovic,
Lewis Hamilton, Nelly Furtedo, Halima,
Saba Mubarak, KritiSenon, Huda
Kattan, and Mona Kattan. in 2024,
‘The MMG ran campaigns for Corolina
Herrera, Huda Beauty, BERLUTI,
unas, Valentina, Rizadh Ai, Jimmy
Choo, and Bahrain Tourism. Golda has
20 years of experience inthe luxury
retell market.
Mido Helmy
Cofounder & CEO
CCompeny: Brand Stamp
Nationality: Eayption
Headquarters: Eypt Residence: Egypt
Estoblished in: 2016
Helmy cofounded Brand stamp in
2016, which provides multiple services
from social madia management,
digital marketing, metic production,
photography, gtaphie design, and
branding. The company works with Arab
stars ike Assala Nasi, aber Rebai, Dorra
Zarouk, Romy Sabry, andthe band Wust
£1 Bolad, among others. Before Brand
Stamp, Helmy freslanced as a digital
‘media manager from 2010.
Reem & Natalya Kanj
Cofounders of EGO & EAST; Partners
ct Maison Pyramide
‘Company: EGO & EAST Maison
Pyramid
Nationality: Lebanese
Headquarters: UAE, Residence: UAE.
Established in: 2016
Sisters and business partners Reem and
Netelya Kon founded EGO & EAST in
2016. n 2022, they announced its merger
with Mison Pyramide. The ogency
‘covers MENA, France, Italy, and the US.
EGO & EAST represents regional celebrities
Tike Koren Wazen, Mo Al Turk, Noor
Taher, Rakeen Saad, Zeyne, and Nora &
Khalid across regional and international
‘campaigns.
‘Ossama Youssef
Founder & CEO
jan Videos
Egyptian
LA. Residence: UAE.
2010
‘Youssof established Divan Videos in 2010,
before moving the headquarters to Dubai
in2019. Today, the company operates in
Saudi Arabia, rag, Turkiye, Pakistan,
Moroceo, and India. It manages hundreds
of influencer accounts, generating 25
billion views monthiy, and amassing
‘more than 600 milion fellowers. Since its
inception, ithas dolivered around 3,000
‘campaigns for more than 200 brands and
‘celebrities across 14 industries, inclucing
‘utomotive, beauty and cosmeties,
Colebrities, and sports. Its clients include
Mohamed Alabbor, Mohamed Romadan,
‘Ahmed Saad, Yasmine Sabri, Ameer
Katara, Sif Nabeol, Noor Stars, Narin's
Beauty, and Faleons Esperts,
FORBESMIDDLEEAST.COM (Y FERNE' a EVENT
Freon runniTune ror voursvenrs: RENTALS
OOO
ea en col
WN
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ORDER
4
x
3
&
&
3
Ss
&
@ TALENT MANAGERS
@ dina Dash
Founder CEO
‘Company: DASH Management
Nationality: Egyption
Heodquarters: Egypt
Residence: Egypt
Established in: 2015
Dash founded DASH Managementin 2016,
which specializes in talant management
‘and stratogie consulting in Egypt, with o
network ofinfluencers across Eaypt, the
UAC, and Saudi Arabia. The agency works
with influencers and celebrities including
‘Alonoud Badr “Fozaze,”Eniy Kiwan,
Karim Fahmy, Sheri Fayed, Aly Mazhor,
Soraya Shawiky, Amira Adeeb, and Ahmed
Dash among others. The agency has run
‘campaigns for Banque Misr, Told, Foward,
KIKO Milano, and Juhayna Egypt Dash also
‘vine tha fashian label MENS, Dash had
19 milion followers on Instagram and 13
milion on TikTok as of October 2024
© Mohamad Fatal
Founder £0
Company: Afar
Nationality: Canedion
Headquarters: UAE.
Residence: UAE
Established in: 2017
Fottal founded Alfonin 2017. Today, the
‘company represents over 28,000 ca
Creators and hos endbled influencers to
partner with brands, including Huawe,
HungerStation, Aci, Trendyol, ond Temu,
‘among others. Alfan provides tools and
‘olutions to help content oreators including
(Osama Marwah, Omar Farsoa, Ahmad
‘Abureb, and Ame Maskoun, Betwaen March
‘nd Api 2024, the company launched the
HungerStation Ramadan campaign with 200 of
itscontent ereators, genorating over 120 milion
views In September 2024, Afon gathered 80,
creators for tho Huawei GTS lunch campaign,
{generating over 100 milion vows
@ Ghassan Chartouni
+ Founder & CEO
Company: Music I My Life
Nationality: Lebanese
Headquarters: Labanon
Residence: Lebanon
Established in: 2000
CChartouni founded Glava Holding in 2000,
‘under which he established Music Is My
Life to manage and launch musical artists,
offering comprehensive services ik artist
management, booking, branding, and
‘counseling. Teday it works with artists tke
Nassit Zeytoun, YARA, Rahma Riad, Al
‘Shami, and Sarah Farch, among others.
CChartouni aso owns and oversoos other
divisions of Glava Holding such as Watary
Digital, and e-Musio is My Life, which helps
artists goin visibility and generateincome
through digital chonnels
© omar Hmaidat
+ Gofounder & CEO
Company
Nationali
Headquarters: UAE; Jordan
Residence: UAE.
Established in: 2024; 2021
Digital media company XPOZED was
founded in 2024 and works with regional
influencers, ineluding Weseam Qutob,
Roghda, Akhras, NostKharman, Gholiaa,
‘Abdullah Tahhan, and Mohammad
Nabeel. The company specializa in socicl
‘media management, branding, content
creation, and production. XPOZED was
the official Meta partner for Music Loves,
Threads, Hmaidat s also the CEO and
‘cofounder af the marketing services
‘agency DMS Group.
Methodology
Tobe considered, the agencies had tobe
irectly managing celebrities or some of
their campaigns, social media, or other
forme. To compile this list, we reviewed:
«The number of celebrities and influencers
boing managed by the agency
+ The level of fame of the celebrities and
Influencers being managed by the agency
«Te campaigns run by the agency
+ Total each on social medio, aoross
allits work during 2024 or ofa specific
‘campaign or celebrity, if available
FORBESMIDDLEEAST.COM
NOVEMBER 20: PROMOTION
-
aR
On Track for Legendary Status
As HALA pursues new growth and a possible IPO, the Riyadh-based fintech joins an
elite pack with induction into the Saudi Unicorns Program.
aera ey
sq pioneerin SME banking,
[ \ HALA Payments is ona
mission to empower micro,
small, and medium enterprises
(MSMEs) to start and grow their
businesses. Founded in 2018 by
Esam Alnahdi and Maher Loubieh,
HALA has already facilitated over
{7 billion in transactions, serving
more than 110,000 merchants across
Saudi Arabia, Now, aftor six years
of exponential growth, the Riyadh-
based fintech has been inducted
into the Saudi Unicoms Program as it
pursues global expansion and eyes a
potential IPO.
The Saudi Unicoms Program, run
by the Ministry of Communications
‘and Information Technology in
collaboration with the Mohammed bin
Salman Foundation ‘Misk; supports
‘Saudi Vision 2030 by fostering
innovation, economic diversification,
‘and digital transformation. The
program provides companies with
‘opportunities to expand into new
markets, attract and develop talent,
‘access investment, and connect with
global experts. These advantages
will accelerate HALA's growth and
‘enhance its abilty to innovate and
‘expand its digital financial solutions to
the region and beyond.
HALA’ inclusion in the Saudi
Unicorns Program signifies not
just a business milestone but
its deep commitment to Saudi
Vision 2030. The fintechs mission
