Biography
Khalid bin Mahfouz was the second eldest son of Salim Ahmed bin Mahfouz a Saudi who rose from being an illiterate moneychanger to the founder of the first bank in his country, the National Commercial Bank of Saudi Arabia (NCB). Salim Ahmed then became the personal banker of the Saudi royal family. He handed management of NCB, the largest bank in the country, to Khalid sometime in the 1980s.
In the 1970s Khalid bin Mahfouz bought and lived in a $3.5 million chateaux-style house, later named "Versailles," in the River Oaks area of Houston. He also bought a four thousand acre (16 km²) ranch along the Trinity River in Liberty County, Texas, near the ranch of James Bath.
In 1990 Khalid bin Mahfouz acquired Irish citizenship through inward-investment procedures.
Bin Mahfouz was married with three children. His personal net worth was $3.2 billion in 2006, making him one of the richest people in the world; his family fortune is worth over $4 billion.
Read more about this topic: Khalid Bin Mahfouz
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