Chairman of Kuwaiti Kharafi Group dies in Cairo
The chairman of the Kuwaiti Kharafi Group, one of the Middle East's oldest and largest family-owned firms, died Sunday in a Cairo hospital after a heart attack, the Kuwaiti official news agency reported.
Nasser al-Kharafi, 67, is the brother of parliament speaker Jassim al-Kharafi, dpa reported.
His death led the Kuwait Stock Exchange (KSE) to plunge by midday, as companies with links to the group dropped in early trading, the Al Arabiya broadcaster reported.
Nasser Al-Kharafi was ranked as Kuwait's richest person and the 77th worldwide by Forbes magazine in March, with his wealth estimated at 10.4 billion dollars.
His conglomerate encompasses over 100 businesses operating throughout the Middle East, Africa and Eastern Europe in hospitality, construction, manufacturing and marketing.