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What It's Like To Be A Billionaire In Kuwait
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- เผยแพร่เมื่อ 16 ส.ค. 2024
- The Middle East is known for both its incredible wealth and crushing poverty often with very little middle ground. Oil rich nations have provided opportunities for even those not involved in the oil industry to make insane amounts of money. Sometimes that wealth can create some unwanted attention, like Kuwait did in 1990. But the country that has managed to develop a national wealth off its massive oil stores has managed to rebuild and is home to some of the region's richest people with households full of full-time staff and expensive sports cars filling the streets. The country’s massive oil revenue from exports has until recently allowed the small nation of 4.1 million people to forgo any taxes and still provide free education and healthcare. WIth falling oil profits depleting the country’s wealth funds over time the country has had to start looking towards other opportunities to keep Kuwait’s status as the fifth richest planet in the world. Even their currency exudes wealth as the most valuable currency in the world, demanding $3.30 per one Dinar. Despite the high concentration of wealth the country has had to invest in clean up programs to battle the citizens tendency to just leave their trash on the sidewalk. While the country has had as many as five citizens on the Forbes Billionaire list, the last year has taken its toll removing the billionaire status for any national who previously had it. Does Kuwait sound like a good place to be a billionaire to you? Let us know in the comments and while you’re there be sure to like and subscribe for the latest content.
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Written by: Ryan Carbrey
Narrated by: Clinton Conyer
Edited by: Gonzalo L.
For copyright matters please contact us at: legal@valnetinc.com
CHAPTERS:
00:00 Intro
00:09 Alghanim & Sons
03:24 Kharafi & Sons
04:50 Money Rules
06:49 Waning Fortunes
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Hi! I’m excited to be here in your channel and I’m interested in learning more about investing and saving up for my retirement but am a little confused about the whole process. Any advice or tips to get me started up would be greatly appreciated.
BRICS seeks to create a new currency, considering gold's historical role as a store of value and medium of exchange. However, the functionality and acceptance of a gold-backed currency in the current global financial system are uncertain. Creating a new currency requires careful consideration of economic, political, and logistical factors.
Most people either do not understand the power of compound interest, or are just impatient. For the average Joe, however. I think it is just best to invest in the S&P 500, and just wait, which is reliable, albeit extremely long-lots of years. Or just use a professional analyst and speed up wealth creation. Most people underestimate the power of the latter
Gold and copper remains the best investment to venture in, especially as a beginner, it’s not always affected by the downturn of the market
You're absolutely right about the power of compound interest and the long-term potential of investing in index funds like the S&P 500. For many, passive investing in broadly diversified funds can be a reliable strategy over time.
I find gold investments reliable and aim to buy more to recover losses. Silver is also a good investments but differs from my collectibles. Clear investments goals and education are crucial. I work with Patricia Strain a SEC-regulated financial consultant. Starting with modest investmentss, I accumulated nearly $799k over time.
Many citizens dont want to reveal there wealth or they dont want to be on forbes list. They live happily with there family and kids, Kuwaity Citizens live very healthy and prosperous life.
being a kuwaiti citizen is equal to winning the lottery.
@@briopalumpus8676 Citizens have many responsibilities to care and are very well connected to daily routines
As a Kuwaiti, this is bullshit. 98% of the Kuwaiti Oil Pie is only owned by 1% of this country. Corruption runs rampants, and snakes have their hands deeply rooted in every part of its economy.
@@amuttalib54 nah. they are just pampered by the govt here
NO they are going to share with America. They most likely stole from the sheep farms in America!!!!!!! Now we got them!!!!!!!!!!!!
Even their currency exudes wealth as the most valuable currency in the world, demanding $3.30 per one Dinar.
Because it’s backed up by gold and other precious metals so it has more value
Money isn’t printed carelessly like in the US
that's not true I'm afraid, its pegged to a basket of different currencies (use to be the British pound until independence) , which is arguably better than gold.
conversion rates don't mean much, Saudi is much richer than Kuwait yet the saudi riyal is about 0.05 the kuwaiti dinar, its like if the US decided that their main currency is the 100 dollar bill calling it " the dollar ".
@@baderalhamadi5333 lmao
And 1 dinar is £2.60p
As a kuwaiti alshaya family is much wealther than alghanim and alkharafi and not in politics like them … and almost all of their wealth are from governmental tender with some shady numbers as a result of their presence in the government and the parliament .
Is that the retail company?
@@GuessMyName234 if you are asking about alshaya , the answer is yes
@@moh8628 my man, do you know when the govt give expat college students the right to drive? People don't know we expats are treated like garbage hete
@@dad4378 that is irrelevant to my comment ..
Hey since you are kuwaiti could you please help me with a few doubts of mine? I am looking for money lenders / investors who could help me with my art project... I have been trying to crack into the kuwaiti investors circle but it's so tough 😟 I came across this video and your comment by chance and I think its a good sign! Someone trustworthy and safe and has love of art and humanity in him / her and someone who strictly abides by the legal paperwork!
From my knowledge of living in Kuwait, the most powerful families are, AlGhanim, Marzouq, AlSabah, AlKharafi, Mutawa, Behbehani, AlShaya etc
u r right
Mutairi, Ajmi, Ashkanani, etc
@@saraali4223 big families not powerful
how did you end up there bro
@@alsh5119 not powerful? Yeah ok :)
I'm surprised you didn't include the other Alghanim family branches and the Alshaya family. Pretty sure Alshaya is richer than Alghanim or Khorafi.
Alghanim and Khorafi are pretty much all of Kuwait. They own everything here, money and power.
@@7aThooN Of course. They're in the government and all. And being in infrastructure they do a lot. Alshaya isn't small though. They hold 70 major retail brands.
@@kaldo_kaldo yep alshaya is much much more richer and more respected as an international buisness man whereas the others arent and are just supported by the government mostly
Al Saqer is the richest Kuwaiti , i think the presentation is about Al Ghanim family and Al Khorafi family .
@@foxytail7010 alsager is not even close😂
I wish it was as good as the video described us, the roads are messy and it just looks like a poor country NOT EVEN LYING I'm a Kuwaiti... DONT BELIEVE TH-cam
As a Kuwaiti, dont think about living here for many reasons, most importantly the weather, GODDAMN ITS HOT!!
and racism!
@@dad4378 Agreed! For some reason many Kuwaitis think they're superior over foreigners and even among each other, this shows how arrogant and small minded they really are, but obviously not all of them are like that.
@@dad4378 shut up, it’s not like we are as racist as malaysia or india
@@dad4378xD
Love being racist right 😂
My country🇰🇼💙
Soon Hindu's will throw you out
@@KashmirEmpireof5000years Stop being an idiot and embarrassing India
@@KashmirEmpireof5000years nobody cares about you and ur cringe 😬
@@KashmirEmpireof5000years india smelly
@@KashmirEmpireof5000years broke
This was my home. I was born here and lived there for 17 years.
How was it ?
@@alm3257 i loved it. That was only world I knew. The real kuwaitis are class people. They mind they're own business. And are often good people. The owner of the company my uncle worked was very fond of him. Its the non OG kuwaitis meaning i think they've migrated long back from other gulf countries. They have attitude issues. Especially towards bangladeshis
@@justymk I'm very happy you feel this way. Also, I'm actually suprised you're familiar with this issue, I'm often irritated by the fact so many people don't. Although many of the real kuwaitis came from the Arabian peninsula what I think you mean are the people who came after the foundation of the modern states, that is they migrated here during 1920-1960. Most Kuwaitis find that the period before they came was the best, they even have year named after so many of them came! My family came to Kuwait in 1716, it's Al-Mulla family, you may have heard about it. Again, thanks for your kind words!
so you must have kuwaiti citizenship now
Mine as welll
5:04 shows the national GDP not GDP per capita which is GDP per person. GDP per capita if 271 billion USD Kuwait would have an economy of about 1 Quintillion USD
can you do the netherlands next?
i would realy love that!
Love these type of videos!
i am an indian and born here- 97 in kuwait my family is here since late 1960's
What happened in 1991
@@jaivekkanabar6865 There is a huge platform which is google, please text this same question there. what happened in 1991 in Kuwait. cheers!
@@jaivekkanabar6865 invasion of Kuwait by Iraq but later Kuwait was rescued by the us and coalition
Yooo hindu go back to your land
It is awesome to go to Kuwait for vacation
As a Kuwaiti, I’d like to warn you.
The heat is *unbearable* hun🙂
@نوره العنزي I agree! But most vacations are during the summer, and so I decided I give Candice a warning to expect heat towards that time.
As a Kuwait, I say Don't. Its boring. Go to Dubai.
@@Fawaz4321 xD
What is there to do in Kuwait? I've lived here for a few years and haven't found anything yet
I wish I had a couple sheikh as best friends that didn't care about money.
❤
A study showed 47 percent of Kuwaiti’s are millionaires, 10 percent were billionaires. The other percentage was dealing in the thousands.
I’m Kuwaiti the 10% billionaires part is bullshit lmao
Great work hope to collaborate with you on TH-cam one day ❤❤❤❤Namibia 🇳🇦
I worked in Kuwait for 24 years as a teacher but the ministry of education deducted almost half of my pension 4256 KD ( 14000 $) during resignation under the name of indebtness which I knew nothing about . And when I made a written complaint they refused it verbally on the telephone .
حتى هني يا نصاب 😂😂
@@Ahmed-io9ez علطول افضح اللصوص 😁
واخبار مصر اي يا باشا
@@Tareq27 اسال مصري
so what can you advice those people who are looking forward to go and work in kuwait
DId chuckle when they spoke about improving public transport. No, no they are not.
Fr 😭🙌
قول ما شاء الله 🇰🇼🙌🏽
This guy doesn’t know that some ppl doesn’t even wanna be on Forbes billionaire list …. Source : trust me bro
Most of the wealthiest people in Kuwait are due to the Oil resources. lucky country
Even poor countries have rich people due to business or elsewise. Don't be too simple
@@Narrowcros poor country and rich people is usually associated with corruption at expense of the people that's why it's poor country
Actually all of the wealthiest people in Kuwait run conglomerates like those mentioned in the video. The average wealthy Kuwaiti person is wealthy because of oil, but none of the wealthiest can claim that.
When americans hear kuwait has tons of oil: MUST… SPREAD.. DEMOCRACY!!
but kuwait is a democratic country (:
@@incendio5181 constitutional monarchy not democracy.
@@sajusaju3997 we have parliament is that means its a democratic country ?
@@incendio5181 bro there is a king also who is part of the parliament. And like how many times the elections were held and the parliament was disbanded like the parliament seems dysfunctional and they had their first deficit budget in like 15 or 20 years during covid.
@@sajusaju3997 its a prince not king btw
Omg!! I would love to live here. With my street smarts, I would do so well 🔥🔥
“Street smart” That’s my word! 🔥🔥🔥
Suuurrreee
lol
Yeah, slums of America street smarts. Not Kuwait and Middle Eastern cultural streetsmarts. You'd get yourself killed love.
If you're not Kuwaiti, you won't do "so well".
The genuine comment you're looking for
Lovely knowledge 🥳🥳🥳🥳
I agree 👍
Y'all I love in kuwait, if ur now a citizen (which btw if you're not born into citizenship is basically impossible) life here very much sucks.
Exactly
To be happy in Kuwait you must be financially comfortable, everything is expensive just like Dubai. When middle class people from other countries move to Kuwait they feel poor because the expenses are very high. So if you are rich your nationality don’t matter, it’s a matter of money not background.
@@Hananyarn its also a matter of kuwait not providing expats any opportunities
Then leave.
@@Xc662_ omg wow I never thought of that 😐
Thank you sir
Feels illegal to be this early.
First to finish viewing
Make a video on Pakistan
Allah bless kuwait 🌻 country 🍃🌺🌼🌺
Good... 👍
❤
❤
90% of the population of Arab oil Emirates like Kuwait are overseas workers.
Kuwait has around 50% unlike dubai still its alot but not as much
@@liv9664 What do you mean 50%, Im a Kuwaiti citizen and i can confirm that out of the 4 million people living here, only 1.4 million are Kuwaiti.
Do Philippines next please!
Abdulaziz Waheedi coolest billionaire😜
yo I am from kuwait lets gooooooo
What we don’t pay tax THATS CAP
I DIDINT KNOW WE HAD A BILLONAIRE IN KUWAIT THIS IS AMAZING!
I don’t think its amazing. If you are kuwaiti then you should know why.
I’m an Indian so me and my parents moved here
@@Wra1t more than welcome 🙏🏼
i used to live in kuwait, before you, to be honest there was no one there, not even a villager
You mixed the Porsches up
اذا كويتي لايك
I am from kuwait and I live there
Nice 👍❤️
DJ ILL CLINTON THE GOAT
Can’t tell if this Matt C is Carminio or Cron but either way thank you brotha 😂
Hey I’m from Kuwait 🇰🇼 that’s weird
Nice 👍
8:58 nice
Al Ghanim and Al Kharafi families are married into each other. Kharghanim should be the new conglomerate name.
No 😭 you take the fathers name lol
يزيننا بس😏
لا يكون انني بروحي💀
معاج لا تحاتين
If it wasnt for the u.s.govt,the lakota soux would be arab rich.
Am I the only one who saw the inaccuracies in this video?
You are not alone xD
I know about Kuwait because I’m from Kuwait
Nice 👍💐
90% of people from Kuwait are broke even though the country is rich
Deffo the young generation.
Older ones are not.
A study showed 47 percent of Kuwaiti’s are millionaires, 10 percent were billionaires. The other percentage was dealing in the thousands.
@@johnbrbr6524 my mother is from Kuwait, I guess I know better than you bro
@@Wmw47 my mother and father are from kuwait and my whole family, I guess I know better than you, im on my alt account. So my name isnt john.
@@johnbrbr6524 😂😂 that's great, so you know that your people are broke... Stop behaving like Rich when you guys go to Thailand and these poor country so you don’t spend more money😂😂😂
What is like to be a billionaire in Trinidad and Tobago 🇹🇹
Hi to all the Kuwaiti brothers in the comments !!! Could you please help me with a few doubts of mine? I am looking for money lenders / investors who could help me with my big art project... I have been trying to crack into the kuwaiti investors circle but it's so tough 😟 I came across this video and I read through many who know the circle! Someone trustworthy and safe and has love of art and humanity in him / her and someone who strictly abides by the legal paperwork! Any suggestions anyone?
It's funny because all of them are not selfmade, they are all got commission from the government and also they are politically involved in a way that makes all government contracts are with them
Bitcoin has been the best performing assets of last year, and it's also going higher. I am glad to be taking part of this opportunity with Rebecca Bouton as my guide
One hell of a coincidence. I made huge profits last week investing with her
I can boldly say that Forex and crypto trading is one of the profitable money exchange services that elevates investors and their financial status
How do I reach her please?.
@@liamfink8411 Yeah that's right I think the best way is to invest with a professional , at least it saves the trauma of too much losses
what its like to be a billionaire? i buy soul of my entire village.
Lol my dad is in this vid
Ok
5:04 something is not right.
That 955 ❤️
u mean 965?
Also one of the most racist countries in the world. The level of atrocities towards the expat domestic workers are vastly undocumented.
As a person who grew up there, our family considered racist inequality as a reality of life.
Not one of the most racist countries when you compare it to India or any European country and USA
I’m Kuwaiti and I lived in America and I traveled to Europe and to I think it’s your country India and trust me Kuwait is not racist compare to them 😅
Defientely way less racist than eastern and central European countries
@@S.501. Why is Kuwait higher than all these countries then? On the worst place for a foreigner to live in? It was ranked 3 rd of all the countries in the world.Third worst place to work as an expat !!!!
You might be a nice person but that doesn't mean others are.
@@daddyreadme i know but I lived in Iowa in America and i read it nice and not racist and I lived there and it was the worst place I lived in trust me don’t read about a place or a country go see in your eyes and go live there
قل اعوذ برب الفلق
I need a loan I'm a USA citizen I'm an American I live in the USA
My country 😅
I'm not going to lie I wish I was on the cover of Forbes magazine just like the song and I would say work together s*** don't try to outdo one another just work together makes it a lot easier to share and Lord Jesus please I'm begging you take the gas prices a little bit lower my God pockets are burning up over here.. Dan only puts a damn quarter of a tank in and I like to cruise it's summer n I need to be able to cruise around ya know ... Shoot and Joe Perry said you all are giving him trouble because u don't want him to represent or advertise for your company ... I'm telling ya all I'm his friend and let him advertise ... Thank you... I think you all kind of hurt his feelings a little bit... You don't mess with my friends... Instead work it out with him .. Id really appreciate it... Thank you y'all look like very kind people and from what I see your land looks beautiful... And to whoever's growing the cannabis hell you can send me some samples I ain't got nothing burning in my pipe right now and it sucks I need my attitude adjusted and that's about the only thing that can adjust it that and some well you know I ain't going to even say it..🙈 plus I did a Ford video on my Snapchat so I'm just saying me casa su casa you know what I mean help a sister out here.. I've never had a yacht life but oh Lord I almost did but I couldn't use him like that... You know what I mean that wouldn't be right but I always wanted to be on a yacht.... I love Krispy Kreme donuts I'm not going to lie.... And hell I would love to have some servants or some staff or hell even a dishwasher I'm tired of being the damn dishwasher and maid .. I ain't even going to lie.. I love f****** Ferraris I'm not even going to lie to you I don't know if I'm too fat to fit in one but Lord Jesus I'd squeeze my big ass in... Oh my God there is no future in the front you heard of that song..it by Bootleg Called ...No Future ... Check that song out ... BootLeg will teach u the way trust me ...and Would it be weird eating a Krispy Kreme donut and trying to fit in a Ferrari...😂🤣... I don't know but I would sure try ...I am kind of off a little bit but I sure am funny I'm not even going to lie I crack myself up all the time I'm My own best company..
Hello ❤️💐
How it's like to be billionaire in
Oman, Bahrain
Wow I used to work in alghanim as security guard till now I was not known about the alghanim that rich
Because of the economic crisis and the rate of unemployment,now is the best time to make money 💯
You can say that again
Cry`ptp is the new gold
@Judith Carl My first investment with Expert Bernard Macchio has earned me profits of over $24,320 Us dollars and ever since then he has been delivering
@Judith Carl My first investment with Expert Bernard Macchio has earned me profits of over $24,320 Us dollars and ever since then he has been delivering
████████████████
十⓵⓽⓻⓼⓶⓸⓹⓹⓹⓪⓽
████████████████
God when 🥺
If your from kuwait 🇰🇼 comment
Indian here in Kuwait . Its a nice country
@@s9ka972
Hindus not welcome
@@KashmirEmpireof5000years nobody cares about u racist shit.
Suiii
@@KashmirEmpireof5000years why u trolling
10th comment 😎
If esreal doest not exist with help of British and usa then All Gulf countiest most Reachest in this world ...😚😚😚
Help me
hi
My home 🇰🇼
Nice ❤️💐
idk cant relate
First
Filthy rich, only at the expense of the people 😬
no, they earn their money through natural resource, the country is biggest exporter of oil
nope
As the economic crisis keep rising, one need to have a different stream of income. A well diversified investment portfolio in the financial market is needed to survive, as well as secure a profitable investment for the future. Thanks to Lydia Reeds for improving my portfolio
I’m surprised you know her too. I’ve been making alot of profits investing with her for a few months now.
yooo
Why are there any homeless there?
there isnt any homeless citizens, free houses are given.
houses are given after 30 years of paying rent to merchants (it’s not free you have to pay the government back too)😂
I'm a foreigner living here, I haven't seen one homeless person.
I’ve seen beggars but rarely
Money is good
yessir
القانم😂😂😂
الغانم*
Lol my family
First pin my comment
WOW BUT NO COUNTRY BETTER THAN MY SUPER INDIA 🤗🇮🇳 IM SO LUCKY TO LIVE IN INDIA MOST RICHEST COUNTRY, I CAN'T IMAGINE IF I WAS NOT BORN IN INDIA , SUPER SAFE AND CLEAN, ALWAYS RESPECT FOR WOMEN AND WE HAVE TOILETS ANYWHERE , INDIA IS ROLE MODEL COUNTRY TRUST ME 🤗🇮🇳 I KNOW MANY PEOPLE JEALOUS NOT LIVE IN INDIA 🇮🇳🤗🇮🇳🤗🇮🇳🤗🇮🇳
Onnu podapa
You’re clearly not Indian, they are way more kind and humble💀😂
@@user-ny2kx4sr1n girly I'm an Indian and half of the stuff he said was cap. You just know what u see from Kuwait 😂
@@blessenreji5222 don’t worry boo I could CLEARLY tell 😌 love India sm tho!💖
pakistan bot lol
I DONT CARE about there never been there ...BUT LOOVED Dubai..is just jaw dropping, the way is looks, built & 7 stars services everywhere, food & the whole 9 yard , make the U.S Here like 3rd world country
Dubai is in another country. How is that relevant to the video?…
k' K'
Second
*Mhh*
4th
جميعهم حرامية ومصاصي دماء الشعوووووووووووووووووووووووووووووووووووووووووووووووووووب انتهى
Spolt
We Hindu's need temple in Kuwait
Don’t be racist to other people in the comments then Kuwait will see and all so Muslims need their freedom in India and the mosque to pray in how about that.
Lol go back to your Kashmir Empire of 5000 years xD
No Hindu citizens in Kuwait = no pagan temples
Ironic, us muslims need our freedom in India, like hell, we aint gonna build those temples until your country has a better economy
Behind all the wealth they have there are still uneducated evil people living there, that dont like to be in a camera. I don't want to spill any info but its for the people who can read this how evil people living there. A simple picture can kill you there if you are a poor, naive not knowing their stuoid culture. And their claiming theyre Muslim. There are tons of gays are living there too. Peace be upon you! Let karma avenge for those victim of abuse.
what is it like making a cheap narrator speak grammatically correct english in a video about oil rich countries?
bcoz he passed IELTS with 'flaying calar' and went there on khadim visa as driver with big vast baba n mama
Anyone has 5 million kwd per month ?
America leader think small country is nothing and no power??? But small country Is more powerfull 😂💪