Friday, December 9, 2011

Saad Hariri

Saad-eddine Rafiq Al-Hariri (Arabic: سعد الدين رفيق الحريري‎; born 18 April 1971) is a Saudi-Lebanese billionaire who served as the Prime Minister of Lebanon from 2009 until 2011. He is the second son of Rafiq Hariri, the former Lebanese Prime Minister who was assassinated in 2005. Hariri was prime minister from 9 November 2009 until the collapse of his cabinet on 12 January 2011 and has also been the leader of the Movement of the Future party since 2005.

Early years
Saad Hariri was born in Riyadh, Saudi Arabia, and is the son of Rafiq Hariri and his first wife Nidal Al-Bustani, an Iraqi. He graduated in 1992 from the McDonough School of Business at Georgetown University with a major in Business Administration. He then returned to Saudi Arabia where he managed part of his father's business in Riyadh until his father's assassination in 2005. When his father was killed in February 2005, he inherited some USD $4.1 billion in 2005 earning him and each of his siblings a place on the 2006 Forbes list of richest people in the world.

According to Forbes, as of 2011 he is the 595th richest person in the world with a net worth of $2 billion.

Prior to entering politics, Hariri served as the Chairman of the Executive Committee of Oger Telecom, which pursues telecommunication interests in the Middle East and Africa. In addition, Hariri was the Chairman of Omnia Holdings and a board member of Oger International Entreprise de Travaux Internationaux.

Political career
After his father's death, he inherited the helm of the Movement of the Future, an essentially Sunni movement that was created and led by his late father. He is also the leader of the March 14 Alliance, a coalition of political groups born out of the Cedar Revolution which, through mass popular demonstrations and Western support, led to the withdrawal of Syrian troops from Lebanon in 2005 after a 29-year presence.

Prime ministership
Hariri was the leader of March 14 alliance in 2009 general election. His party won 71 seats National Assembly. On 9 November 2009, Michel Suleiman appointed Saad Hariri as new prime minister and succeed Fouad Siniora.

Collapses of the government
On 12 January 2011, minutes after Hariri posed for pictures with President Barack Obama in the Oval Office, the opposition parties resigned from the cabinet, as an objection for the inability of the government to take detrimental decisions, causing his unity government to collapse.

A White House statement released after their talks said actions by Hezbollah "only demonstrate their own fear and determination to block the government's ability to conduct its business and advance the aspirations of all of the Lebanese people."

Hariri remained caretaker Prime Minister for another four months after the collapse of his cabinet. The new government was finally formed on 13 June 2011 and is headed by Najib Mikati.

Personal life
Saad Hariri is the second son of Rafic Hariri, the assassinated former Lebanese Prime Minister and his wife Nidal Al-Bustani.

Hariri married Lara Bashir Al Adem in 1998 and has 3 children: Son Hussam, born 1999; Daughter Lulwa, born 2001; and Son Abdul Aziz, born 2005.

His net worth has fluctuated since the death of his father. Current figures usually vary between 1.5 and 2 billion USD.

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