Ali Al-Naimi

Ali Al-Naimi Net Worth

Ali Al-Naimi, born in Saudi Arabia in 1935, is the world's most powerful oilman and the Oil Minister of Saudi Arabia. Despite the recent drop in oil prices, Al-Naimi has refused to cut output, allowing Saudi Arabia to maintain its market dominance. In 2015, Al-Naimi was replaced as chairman of Saudi Aramco, the world's largest oil company and exporter, signaling a potential shift in the Kingdom's oil policy.

Age, Biography and Wiki

Who is it? Oil Minister, Saudi ArabiaOil Minister, Saudi Arabia
Birth Day August 02, 1935
Birth Place Saudi Arabia
Age 87 YEARS OLD
Birth Sign Virgo
Monarch King Fahd King Abdullah King Salman
Preceded by John Jacob Kelberer
Succeeded by Abdallah S. Jum'ah
Children Reem, Rami, Nada, Mohammad
Residence Dhahran, Saudi Arabia
Alma mater Lehigh University Stanford University

💰 Net worth

Ali Al-Naimi, renowned as the former Oil Minister of Saudi Arabia, holds a significant net worth, estimated to range between $100K and $1M as of 2024. With a remarkable career in the oil industry, Al-Naimi has played a pivotal role in shaping the global energy market. Serving as the Oil Minister for Saudi Arabia, he has held immense influence over oil production, prices, and policies. Recognized for his expertise, Al-Naimi has undoubtedly made substantial financial gains throughout his illustrious career in the oil sector.

Biography/Timeline

1947

Naimi was born in ar-Rakah in the Eastern Province. He joined Saudi Aramco in 1947 as a twelve-year-old office boy. Under the training programs of Aramco, he studied at International College, Beirut and the American University of Beirut, before going to Lehigh University in the United States. He obtained a Bachelor of Science degree in geology in 1962. He then earned a Master of Science degree in hydrology and economic geology at Stanford University.

1969

After graduation, Naimi continued to advance at Aramco. He became the supervisor for the Abqaiq production department in 1969. He was promoted to assistant Director and then Director of production in the Northern Borders Region (1972–1975). He became vice-president of production affairs in 1975. He was appointed vice President of petroleum affairs in 1978. Al Naimi was elected a member of board of Directors in 1980 and was promoted to the newly created position of executive vice-president of oil and gas affairs in 1981. He was named President of Saudi Aramco in 1983, being the first Saudi to hold that position. Later, after combining the presidency and chief executive position, he was appointed to each of these roles separately.

1995

Also in 1995, Naimi received an Honorary Doctorate from Heriot-Watt University

2008

Naimi was named one of the most influential people in the world by TIME magazine in 2008. In 2011, he was included in the inaugural 50 Most Influential ranking by Bloomberg Markets magazine. His autobiography was published in November 2016.

2010

In December 2010, the Saudi Supreme Petroleum Council, chaired by King Abdullah, asked Naimi to nominate candidates to succeed him as oil minister.

2014

In November 2014, still serving as Saudi oil minister and therefore the de facto leader of OPEC, Naimi became the primary advocate for the export organization's controversial new strategy. He argued that the oil market should be left to rebalance itself at lower price levels, strategically rebuilding OPEC's long-term market share by ending the profitability of high-cost US shale oil production. Naimi completed his Service as oil minister in May 2016, as deputy crown Prince Mohammed bin Salman took on a stronger role in Saudi oil policy.

Some Ali Al-Naimi images

About the author

Lisa Scholfield

As a Senior Writer at Famous Net Worth, I spearhead an exceptional team dedicated to uncovering and sharing the stories of pioneering individuals. My passion for unearthing untold narratives drives me to delve deep into the essence of each subject, bringing forth a unique blend of factual accuracy and narrative allure. In orchestrating the editorial workflow, I am deeply involved in every step—from initial research to the final touches of publishing, ensuring each biography not only informs but also engages and inspires our readership.