Although , there isn’t an official list of the richest Kurds or Kurdish billionaires readily available. However, The Kurdaily team made every effort to conduct thorough investigations in order to compile a comprehensive list of the richest Kurds and Kurdish billionaires.
There are successful and influential Kurdish individuals known for their achievements in various fields such as business, and media. Additionally, there are Kurdish individuals who have made their mark in business and entrepreneurship, contributing to economic growth and development. The exact wealth and status of individuals can vary, and it’s important to consider the diversity of Kurdish success stories across different domains.
Based on the investigations conducted by Kurdaily in Southern Kurdistan, it has been found that amassing a billion-dollar fortune solely through financial resources is highly improbable. Instead, the wealth attributed to individuals is predominantly connected to the valuation of projects, properties, and overall business ventures.
This underscores the significance of evaluating the collective worth of a person’s projects and their company holdings to gauge their true financial standing. These findings shed light on the fact that diversifying investments and capitalizing on strategic ventures contribute significantly to the accumulation of immense wealth within the region.In Kurdistan currently, there are reported to be 13 billionaires and approximately 10,000 millionaires. These individuals stand as a testament to the economic growth and success within the region, as their wealth showcases the potential for financial prosperity.
It would be intriguing to further explore the industries and sectors that have contributed to the rise of these billionaires and millionaires, as well as the impact they have on the overall economic landscape of Kurdistan.
Here is the list of the richest Kurds and Kurdish billionaires:
1. Sheikh Baz Karim
Sheikh Baz Barznji takes the first place of the richest Kurds and Kurdish billionaires. Having made his fortune in the oil and gold sectors, is the owner of KAR Group, which has a reported net worth of $7.9 billion. Interestingly, his wealth has doubled in value over the past three years, solidifying his status as one of Kurdistan’s wealthiest individuals. Sheikh Baz Karim holds ownership of several significant assets, including the KRG oil pipeline, the Khurmala oil field, and the Khabat refinery in Erbil. These assets have undoubtedly played a significant role in his success and undeniable influence within the region.
2. Sheikh Fakher
Sheikh Fakher and his brothers owns Qaiwan Group and has a net worth of $6 billion and is involved in several diverse industries such as oil, housing, gold imports, pharmaceuticals, food marketing, and transportation companies, amongst others. Among the group’s many assets, Sheikh Fakher holds ownership of residential cities including Qaiwan and Sulaymaniyah Heights, the Bazian Refinery, Qaiwan University and Schools, and several medical communities and cities.
3. Ahmed Ismael
He’s owner of Mass Group, commands an estimated fortune of $5.8 billion. His business interests are expansive, encompassing the fields of electricity, iron, cement, refineries, and various other commercial projects. Notably, Ahmed Ismael plays a pivotal role as the primary electricity supplier for all of Iraq and Kurdistan, along with holding a substantial 35% share in the cement industry and a commanding 43% presence in the iron industry throughout Iraq. His significant contributions have undoubtedly positioned him as a key figure in shaping the energy and industrial landscape of the region.
4. Sirwan Barzani
Sirwan Barzani, the proprietor of Korek Telecom and Darin Group, boasts an estimated fortune of $3.9 billion. Engaged in various sectors, including communications, housing, and tourism, Sirwan Barzani’s entrepreneurial endeavors have left a significant mark in the industry. Notably, he possesses a substantial 75% ownership stake in Korek Telecom, further solidifying his influence and impact within the telecommunications sector. Additionally, Sirwan Barzani also oversees the notable Korek Mountain Tourist Project and has established numerous residential cities. Through his diverse ventures, he has not only contributed to the economic growth but also enhanced the communication infrastructure and tourism potential of the region. At the same time, He’s a Peshmerga commander who fought bravely in the war against ISIS.
5.Faroq Mullah Mustafa
owner of the Farouq Holding Group, commands an estimated fortune of $4.4 billion. His wide-ranging business interests span across communications, transportation, housing, tourism, and medicine. Notably, Farouq Mullah Mustafa holds significant ownership stakes in prominent entities such as Asiacell, Faruq Hospital, and Pioneer Pharmaceutical Company. In addition, he has invested in the development of several residential cities, commercial buildings, and hotels. While his primary focus lies within Kurdistan and Sulaymaniyah, Farouq Mullah Mustafa has also ventured into a few notable projects outside these regions, diversifying his portfolio and contributing to economic growth beyond his local sphere of influence. He takes the fifth rank of the richest Kurds and Kurdish billionaires list.
6. Hadi Nazire and Brothers
the proprietors of UB Holding Group, collectively possess a fortune of $3.2 billion and are actively engaged in the housing, roads, and various other business sectors. Notably, Hadi owns Iraq Oil, Class Cola, Life Water, Rixos Duhok Hotel, and numerous commercial buildings, solidifying the family’s noteworthy presence and impact in the business landscape.
7.Haji Muhammad Bamuki and his brothers
Collectively own a 25% stake in Korek Telecom. Additionally, they possess a fleet of transport ships operating in the Gulf waters. Their investments extend to several residential cities and a substantial share in the Family Mall, along with various food companies. Aso Bamuki, one of the prominent Kurdish businessmen, has exclusively focused his wealth and investment activities within the Kurdistan Region.
8.Ghafoor Khoshnaw
He is The owner of the Khoshnaw Group, commands a fortune of $2 billion. His business interests span across diverse sectors such as e-commerce, electricity, transportation, and housing. With a strategic focus on these industries, Ghafoor Khoshnaw has successfully carved a niche for himself and his company.
9. Azad Haji Yahya
Azad Haji Yahya and his brothers are the notable proprietors of Cihan Group, with an estimated fortune of $2.7 billion. Their business interests primarily focus on the auto industry, education, universities, and food businesses. Sons of Haji Yahya are heavily involved in the operation of Toyota Iraq, international banks, universities, and schools. Additionally, they act as agents for rice and tea under the umbrella of CIHAN. With their diverse ventures.
10. Peshraw Agha Dzeyi
The esteemed owner of the Falcon Group, was a prominent figure with an estimated fortune of $2.5 billion. His primary business focus was in the housing industry, and notably, he was the owner of the Empire State Buildings in Erbil. Tragically, he lost his life in a fatal incident on January 15th, 2024, during an Iranian missile attack on his residence. This devastating event also claimed the lives of his 11-month-old daughter and a Christian millionaire. He had played a significant role in catering to the growing demands of the industries they operate in and had positively contributed towards employment opportunities and economic growth in the region.
