Bakr bin Laden
|Bakr bin Mohammed bin Awad bin Laden|
|Native name||بكر بن محمد بن عوض بن لادن|
Mecca, Saudi Arabia
|Known for||Chairman of Saudi Binladin Group|
Bakr bin Laden (born in 1946 in Mecca, Saudi Arabia) (Arabic:بكر بن محمد بن عوض بن لادن) is the chairman of the Jeddah-based Saudi Binladin Group and the largest shareholder in the Group, with a 23.58% holding, and, according to some, was the "true ruler of Jeddah". He is also a half-brother of Osama bin Laden.
Despite the region’s small construction sector, he has managed to expand the business. In March,[year needed] the firm joined together with Qatari Diar to launch a joint venture holding company, which is expected to have a massive capital base. The new venture will have two umbrella firms, one of which will carry out mega contracting and construction works in Qatar and the rest of the world. It is also currently working on a $994.6m contract to design and build 30 parcels in King Abdullah Financial District, Saudi Arabia.
On 4 November 2017, Bakr bin Laden was arrested in Saudi Arabia in a "corruption crackdown" conducted by a new royal anti-corruption committee. This was done on authority of Crown Prince Mohammad bin Salman. Bakr was initially detained at The Ritz-Carlton, Riyadh. As of October 2018 Bakr remains in detention, though not in the Ritz-Carlton, but in a publicly-unknown location. The Saudi government also seized the deed to a villa owned by Bakr overlooking the Red Sea.
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