Abdul Latif Jameel family wealth up by $11.5bn after Rivian's IPO

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Updated 11 November 2021
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Abdul Latif Jameel family wealth up by $11.5bn after Rivian's IPO

RIYADH: The Abdul Latif Jameel family, who own dealerships of Toyota and Lexus vehicles in Saudi Arabia, has increased its wealth by $11.5 billion, after US electric vehicle maker Rivian surged on its trading debut.

Jeddah-based Abdul Latif Jameel group invested $303 million, almost 114 million shares, according to the sale prospectus, Bloomberg reported.

The stake puts Abdul Latif Jameel alongside Amazon and Ford on the Rivian share register.

Rivian ended its first day with an estimated value of $88 billion.

Shares in its IPO were priced at $78 to raise about $11.9 billion, which is the sixth largest haul on a U.S. exchange, Bloomberg added.


DP World announces new leadership appointments

Updated 13 February 2026
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DP World announces new leadership appointments

DUBAI: DP World announced the appointment of Essa Kazim as Chairman of its Board of Directors and the appointment of Yuvraj Narayan as Group Chief Executive Officer.

Essa Kazim currently serves as Governor of the Dubai International Financial Centre and Chairman of Borse Dubai. He brings extensive experience in financial and economic affairs, having previously held senior leadership positions in several national institutions.

Yuvraj Narayan has extensive professional experience in financial management, corporate finance, supply chains, and global trade. Since joining DP World in 2004, he has led a number of strategic and transformational initiatives that supported the company’s expansion across international markets and strengthened its role as an integrated global provider of end-to-end supply chain solutions.

Narayan has served as Group Chief Financial Officer since 2005, contributing to the company’s financial resilience and operational efficiency.

DP World affirmed that the new appointments support its strategy for sustainable growth and reinforce its role in strengthening global supply chains and supporting Dubai’s position as a leading hub for trade and logistics.