Top Saudi entrepreneur in the world
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Raven Ruma
- . December 25, 2022
- . Update: December 26, 2022 3:27 pm
Interviews with prominent Saudi Arabian businesspeople are featured in this edition of Marcopolis’ Saudi Arabia Report, which focuses on the country’s investments, ease of doing business, and economy. Industry, real estate, information and communication technology (ICT), investments, banking sector, telecom sector, and many more industries are among those that are analyzed in this issue.
Amin H. Nasser is the President and Chief Executive Officer of Saudi Aramco, the world’s biggest integrated energy and chemicals company and largest crude oil supplier. He is also a member of the board of directors for the corporation. Throughout his four-decade business career, Nasser has held a variety of leadership roles, including that of senior vice president of Upstream. In this capacity, he oversaw the largest capital investment program in Saudi Aramco’s integrated oil and gas portfolio.
Under Nasser’s direction, the business is growing its footprint in the downstream and chemical portions of the petroleum value chain with substantial investments and joint-venture relationships in the Kingdom as well as a number of international markets.
With a market capitalization of $1.8 trillion, Nasser presides over the most valuable oil firm in the world. In June of 2020, he was in charge of supervising the purchase of a 70% share in SABIC for the price of $69.1 billion. This was done as the firm worked to expand its footprint in the downstream and chemicals markets.
The annual salary of a Saudi Aramco executive comes up to an average of 234,887 dollars. The projected median annual income for executives at Saudi Aramco, which consists of both a base salary and a bonus, is $229,235, which is equivalent to an hourly wage of $110. At Saudi Aramco, the executive with the highest yearly compensation receives $700,00, while the executive with the lowest annual compensation makes $50,000.
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After a career spanning four decades, Nasser has earned a reputation for a style of dedication that means he will be making sure that he is prepared for the challenges of the day ahead, rather than mingling into the early hours of the morning. This means that he will not be going to early morning social events.
Aramco, along with other big oil companies, has voiced support for continuing to make use of fossil fuels even as the world shifts toward using greener forms of energy.
Nasser, who is typically reserved and diplomatic, deviated from his usual practice in December by stating that a lack of spending on oil production could have serious social consequences and that investment needed to continue in parallel with the development of alternative sources. This was a break from his usual convention.
In his speech at the World Petroleum Congress in Houston, Texas, Nasser criticized the idea that it would be possible for the world to transition to cleaner fuels “almost overnight.”
