Read about Khalid Al-Falih net worth, age, wife, children, height, family, parents, salary, and Aramco as well as other information you need to know.
Khalid Al-Falih is a Saudi Arabian former business executive and public figure. He is currently the Minister of Investment of Saudi Arabia since February 25, 2020. He served as Minister of Energy of Saudi Arabia and chairman of Saudi Aramco. He also has previously served as the Saudi Arabian Health Minister and Aramco’s CEO.
|Net Worth||$25 million|
|Occupation||Business executive, Public figure|
Khalid A. Al-Falih was born in 1960 in Dammam, Saudi Arabia, where he was also raised. He attended Texas A&M University, graduating in 1982 with a bachelor’s degree in mechanical engineering, and later pursued an MBA at the King Fahd University of Petroleum and Minerals, which he completed in 1991.
Khalid Al-Falih joined Saudi Aramco (formerly, Aramco) in 1979. For several years, he held positions of increasing responsibility and in 1992, he joined the Consulting Services Department (CSD). He supervised several technical units, mainly the Mechanical and Civil Systems Division and was named manager of CSD in January 1995.
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Al-Falih was assigned as manager, the Ras Tanura Refinery Maintenance Department in late 1995; and by 1998; manager, Business Analysis Department. In July 1999, Al-Falih became president of Petron Corporation, a joint venture between Saudi Aramco and the Philippine National Oil Company. He returned to the Kingdom in September 2000 to serve as vice chairman on the Saudi Aramco Study Team for Upstream Gas Ventures, until his appointment as vice president of Gas Ventures Development and Coordination in May 2001.
He played an instrumental role in the negotiations with the international oil companies (IOCs) & other major national oil companies (NOCs) in connection with the Kingdom’s Natural Gas Initiative. Ultimately, four joint ventures, namely – South Rub’ al-Khali Company (SRAK), Luksar Energy, Sino Saudi Gas & EniRepSa Gas were consummated between Saudi Aramco and various leading IOCs, Nocs and emerging oil companies.
In October 2004, Khalid Al-Falih was appointed to the board of directors of Saudi Aramco. He also served as chairman of the board of the South Rub’ al-Khali joint venture between Shell, Total and Saudi Aramco. In Nov 2008, Abdallah S. Jum’ah, then president and CEO of Saudi Aramco, retired and Khalid A. Al-Falih, who was serving as Aramco’s executive vice president of operations, was appointed as the new president and CEO of the company, effective 1 January 2009.
As Saudi Aramco’s CEO, Khalid Al-Falih headed the Manifa project, an oil field located in a bay along the coast of the Persian Gulf. The project includes 27 man-made islands connected by 25 miles of causeways. Upon its launch, it produced 500,000 barrels of crude oil per day. The global oil economy caused prices to fluctuate dramatically, from a peak of almost $108 in June 2014 to $26 per barrel in February 2016, the lowest point since 2003.
In May 2016, Al-Falih was appointed Minister of Energy, Industry and Mineral Resources, replacing outgoing Ali al-Naimi. The national plan Vision 2030 announced in April 2016 is designed to reduce the Kingdom’s dependence on oil revenue, a new direction that affected the makeup of Saudi ministries. In the royal decree announcing the appointment of Al-Falih, the former Petroleum Ministry was renamed “Ministry of Energy, Industry and Mineral Resources,” incorporating also the Ministry of Electricity.
Al-Falih also holds the position of chairman of the board of directors of Aramco, whose CEO is Amin H. Nasser. The oil crash caused OPEC countries to react by diminishing production, the organization’s first cut in eight years. Minister Al-Falih urged fellow OPEC member countries to stop exceeding their output targets and met with Venezuelan and Kazakh counterparts in August 2017 in order to extend the deal of cutting production until March 2018, by at least three more months.
On 25 February 2020, Al-Falih was appointed by a royal decree as Minister of Investment, a newly created ministry in Saudi Arabia. Al-Falih is active in many social programs. He has served as chairman of the Dammam City Municipal Council. His board memberships in other community-focused organizations include the Technical and Vocational Training Corporation, the Prince Sultan bin Abdulaziz Fund for Supporting Small Business Projects for Women, and the Eastern Province Society for the Handicapped.
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Al-Falih is a founding member of the King Abdullah University of Science and Technology and serves as a member of its board of trustees. He sits on the board of directors of the U.S.-Saudi Arabian Business Council and previously served as a member of the JP Morgan International Council. On 8 September 2019, through a royal decree issued by King Salman, Al-Falih was relieved of his duties as the energy minister. He was replaced by Prince Abdulaziz bin Salman, the king’s elder son, in the post.
Khalid Al-Falih is married to his wife Najah Al-Garawi, and they had their marriage ceremony in Dhahran. His wife is a private persona and they have kids together. As of March 2023, Khalid Al-Falih and his wife Najah Al-Garawi are still married and currently reside in Dhahran with their children. Khalid Al-Falih stands at an appealing height of 1.68m and has a good body weight which suits his personality.
Khalid Al-Falih net worth
How much is Khalid Al-Falih worth? Khalid Al-Falih net worth is estimated at around $ million. His main source of income is his primary work as a business executive and public figure. Khalid Al-Falih’s salary per month and other career earnings are over $4 million dollars annually. His remarkable achievements have earned him some luxurious lifestyles and some fancy car trips. He is one of the richest and most influential business executives in Saudi Arabia.