Some have known from the start.
Takeover
Wael Al-Qadi
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Behind the scenes
4 Responses to “The Al-Qadi Investors – What we know
The accounts show the bank with profits after tax of 24m Jordanian dinars, roughly the same in pounds. That is not a lot for a bank. Our guy owns 4% . A quick Google search puts his holdings worth USD 22m. Say £16m. So not a billionaire. The bank only pays 12m in total salaries so he’s not getting wealth that way. The total net assets of the bank are 250m dinar. The estimated market value per a Google search is 300m dinar. It is a tiny bank.
I am really struggling to see why our guy is seen as a billionaire. I am delighted he is on board. He appears passionate, he has some money but not substantial amounts.
I too am airing on the side of caution when it comes to the claimed ‘billions’. I get the impression the BBC and ITV etc are sensationalizing it, as you’d expect. But I do think he has a little more than you’ve suggested… if he seriously does only have what you’ve said, that’s a little worrying.
That said, I’m incredibly happy with him as a person and think we’ve ‘got a good one’ here. FTG!
Oh , also had a look at the Tourism company accounts. That company has net assets of £50m , let’s say a market value of £100m. The family owns about 30% . That includes our guys holding of 4 %.
I should have added to my first post that the family only owns 30% of the bank.
So I make it that the value of the family’s banking and tourism business is about £130m of which our guy has about £20m