Fouad Makhzoumi

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Fouad Makhzoumi
Born1952 (age 66–67)
Beirut, Lebanon
ResidenceKensington, London, England
NationalityLebanese
Alma materMichigan Technological University
Occupationbusinessman and politician
Known forfounder, National Dialogue Party
Net worthUS$1 billion+ (March 2017)[1]
TitleCEO, Future Pipe Industries
Spouse(s)May Makhzoumi
Children3

Fouad Makhzoumi (born 1952) is a Lebanese billionaire[2] businessman and politician, founder of the National Dialogue Party. In the 2018 Lebanese elections, Makhzoumi was elected Member of Parliament (Beirut MP).[3]

Early life[edit]

Fouad Makhzoumi was born in Beirut, Lebanon in 1952.[4] He has bachelor's and master's degrees in chemical engineering from Michigan Technological University.[5]

Career[edit]

In 1984, Makhzoumi co-founded Future Pipe Industries, and was CEO from 1986 to 2003, when his son, Rami Makhzoumi, took over as CEO, with Makhzoumi as chairman until 2011, when he resumed the CEO role.[5]

In the 1980s, Makhzoumi recruited the "disgraced Conservative politician" Jonathan Aitken as a board director of one of his companies, Aitken failed to declare this, and as the government minister in charge of arms sales, promoted a military equipment deal involving Makhzoumi in the 1990s, all of which played a part in Aitken's being jailed for libel in 1999.[6]

Political donations[edit]

In 2010, the British Conservative Party received a donation of £300,000 from his wife, May Makhzoumi.[7] In 2013, it was reported that May Makhzoumi had given the Conservative Party another £500,000 earlier that year, bringing her total donations since 2010 to over £1 million.[6]

In 2017, it was reported by The Guardian that François Fillon, the French presidential candidate had allegedly been paid $50,000 to arrange a meeting between Makhzoumi, the Russian President Vladimir Putin, and Patrick Pouyane, the chief executive of the French energy multinational Total.[1]

Personal life[edit]

Makhzoumi and his wife May have three children, Rami (died 2011, brain aneurysm), Tamara, and Camellia.[8]

May Makhzoumi lives in Kensington, London.[6]

References[edit]

  1. ^ a b Kim Willsher. "Fillon 'got $50k to fix meeting between Putin and Lebanese billionaire' | World news". The Guardian. Retrieved 22 March 2017.
  2. ^ "The World's 50 Richest Arabs 2016: Fouad Makhzoumi". Arabianbusiness.
  3. ^ "Breakdown of Lebanon's new parliament - Georgi Azar". 9 May 2018. Retrieved 16 July 2018.
  4. ^ "Fouad Makhzoumi". Fouad Makhzoumi. Retrieved 22 March 2017.
  5. ^ a b "Mr Fouad Makhzoumi". Futurepipe.com. Retrieved 22 March 2017.
  6. ^ a b c Syal, Rajeev (15 May 2013). "Wife of businessman involved in Aitken scandal gives Tories £1m". The Guardian. Retrieved 22 March 2017.
  7. ^ Nigel Morris; Oliver Wright (24 February 2011). "Wife of Lebanese businessman involved in 1995 military equipment deal donated £30,000 to Conservative Party". The Independent. Retrieved 22 March 2017.
  8. ^ "Obituary". Rami Makhzoumi. 31 October 1977. Retrieved 22 March 2017.