Sabih al-Masri

Biography

Sabih Taher Darwish al-Masri was born in 1937 in Nablus, then in Mandatory Palestine, and is a cousin of the industrialist Munib al-Masri. He earned a bachelor's degree in chemical engineering from the University of Texas in 1963, part of a generation of Palestinians who pursued higher education abroad after the disruptions of 1948. In 1966 he founded the Arab Supply and Trading Company (Astra) in Saudi Arabia, beginning with food and supply contracts. Over the following decades, through close partnerships with Saudi business and political elites, Astra grew into a vast conglomerate spanning agriculture, trade, industry, real estate, media, and hospitality, and expanding into Jordan and the UAE. His Saudi success was substantial enough that he was granted Saudi citizenship, and he came to hold Jordanian, Saudi, and Lebanese nationalities. Al-Masri became one of the most powerful businessmen in the Arab Levant and Gulf. He is chairman of Zara Investment Holding, a leading hospitality and tourism group, and has served as chairman of Astra Industries, of the Palestinian telecom operator Paltel, and most prominently of the Arab Bank, one of the largest financial institutions in the Middle East, where his leadership made him a central figure in the Jordanian and regional economy. He is also a founder of the Palestine Securities Exchange and a major investor in the Palestinian private sector, channeling capital into telecommunications, finance, and development at home. His prominence was underscored in 2017 when his brief detention in Saudi Arabia during a high-profile anti-corruption sweep sent ripples through Jordan's financial markets, reflecting how central he had become to the regional economy. Often described as one of the wealthiest and most influential businessmen of Palestinian origin, Sabih al-Masri represents the post-1967 generation of Palestinian entrepreneurs who built sprawling Gulf-based fortunes while remaining deeply embedded in the financial life of Jordan and Palestine.

Why This Person Matters

One of the most powerful businessmen of Palestinian origin, he built the Astra conglomerate and chaired the Arab Bank, becoming a linchpin of the Jordanian, Gulf, and Palestinian economies.

Historical Context

Born in Nablus in 1937, Sabih al-Masri belonged to the generation whose horizons were reshaped by 1948 and the 1967 war, and who sought education and opportunity abroad, earning his chemical engineering degree in Texas in 1963. He built his fortune not in the old Levantine cities but in the Saudi Arabia of the oil era, founding Astra in 1966 amid the kingdom's rapid development and forging partnerships with its business and political elite. His acquisition of multiple nationalities reflects the rootlessness and adaptability of the post-Nakba Palestinian entrepreneur. His 2017 detention during Saudi Arabia's anti-corruption sweep, which rattled Jordanian markets, showed how deeply this exile generation had become woven into the political economy of the entire region.

Historical Context

1. 1937 — Born in Nablus, Mandatory Palestine
2. 1948 — The Nakba – Palestinian catastrophe and mass displacement
3. 1967 — Six-Day War and occupation of West Bank and Gaza

Legacy & Influence

Al-Masri built Astra into a sprawling conglomerate and chaired the Arab Bank, one of the Middle East's largest financial institutions, making himself a linchpin of the Jordanian, Gulf, and Palestinian economies. As chairman of Zara Investment Holding and Paltel and a founder of the Palestine Securities Exchange, he channeled Gulf capital into Palestinian telecommunications, finance, and development. His career embodies the post-1967 generation of Palestinian entrepreneurs who built vast Gulf-based fortunes while remaining anchored in the financial life of Jordan and Palestine. He is remembered as one of the wealthiest and most influential businessmen of Palestinian origin, a quiet power at the center of the Levantine economy.

Topics & Themes

• British Mandate
• Diaspora
• West Bank

References & Sources

1. Sabih al-Masri — https://en.wikipedia.org/wiki/Sabih_al-Masri
2. Palestinian billionaire Masri detained in Saudi Arabia — https://www.cnbc.com/2017/12/17/palestinian-billionaire-masri-detained-in-saudi-arabia-sources.html
3. Who is Sabih Masri? — https://manhom.com/en/profiles/sabih-al-masry/