According to the Al-Eqtisadiah newspaper, the market value of the property of five chairmen of the boards of directors of companies listed on the Saudi stock market increased by 15.1% (10.2 billion riyals) during the first quarter of 2023.
In a report based on data from the Saudi Stock Exchange, Tadawul, Al-Eqtisadiah indicated that three out of five chairmen achieved market returns of 32.1%, 12.4% and 1.2%, while the market value of ownership of two the chairs of the two boards has declined. The management rates are 7.5% and 2.3%.
In terms of profits for the five presidents, Sulaiman Al-Habib Group Chairman Sulaiman Abdulaziz Sulaiman Al-Habib had the highest percentage as he accounted for 97.4% of profits during the first quarter by about 9.9%. , since the increase in the market value of the presidents’ property was only due to the increase in share prices, while this did not indicate that the ownership of any of them increased the number of shares during the first quarter of this year.
Top 5 CEOs ranked by highest cost of ownership:
– Sulaiman Abdulaziz Sulaiman Al Habib, Chairman of the Board of Sulaiman Al Habib Group, whose property at the end of the first quarter was 40.8 billion rials, compared to 30.9 billion rials at the end of 2022, Al Sadara, with a profit of 32.1% (9.9 billion rials), it accounts for 40.03% of the company (140.1 million Strelka).
– In second place is Prince Alwaleed Talal Abdulaziz Al Saud, chairman of the board of directors of the holding company Kingdom, whose property at the end of the first quarter was 22.7 billion rials, compared to 22.4 billion rials at the end of 2022. , with a market growth of 1.2% (261 million rials), it accounts for 78.13% of the company (2895.6 million shares).
– In the third ranking, Abdullah Suleiman Abdulaziz Al-Raji, Chairman of the Board of Directors of Al-Rajhi Bank, with a property value of 6.41 billion rials at the end of the first quarter compared to 6.56 billion rials at the end of 2022, with a market loss of 2, 3% (148 million rials), it accounts for 2.18% of the bank (87.2 million shares).
– In fourth place is Muhammad Sultan Hammad Al-Subaye, Chairman of the Board of Directors of Mouwasat, where the property value was 4.11 billion rials at the end of the first quarter compared to 3.66 billion rials at the end of 2022 with a market growth of 12.4% ( 455 million rials), it accounts for 17.5% of the company (17.5 million shares).
Fifth place: Muhammad Abdullah Rashid Abunayan, Chairman of the Board of Directors of ACWA Power Company, with a value of ownership of 3.75 billion rials at the end of the first quarter compared to 4.05 billion rials at the end of 2022 with a market loss of 7.5% (304 million rials), it accounts for 3.65% of the company (26.65 million shares).
It is worth noting that since July 2017, the Tadavul platform began to disclose through its website the affiliation of members of the Board of Directors, the CEO (or the highest management position in the company) and the financial manager in companies. are listed on the market on a daily basis based on information provided by Tadawul.
Source: The Economist.