Jacques Saade & family – Billionaire

Lebanese-born Frenchman Jacques Saade runs the world’s third largest shipping company. He founded container transporters CMA in Marseille, France, in 1978, and acquired logistics giant CGM in 1996. Saade merged the two in 1999 and now owns nearly 75% of CMA CGM, with Turkish investment group Yildirim holding virtually all of the rest. In September 2016, the CMA CGM completed its largest acquisition yet, taking control of NOL (Neptune Orient Lines), a Singaporean container shipping firm known for its APL brand. The combined company has 12% market share and operates nearly 540 vessels serving 420 commercial ports. CMA CGM has entered into a 10-year alliance with three other shipping companies, expected to launch in 2017, that will operate more than 300 ships. Saade’s three children also work for the company.

Jacques Saade was bornon 1937 in Marseille, France, France. Jacques Saade is #243 in List Billionaires People In The World. Lebanese-born Frenchman Jacques Saade runs the world’s third largest shipping company. He founded container transporters CMA in Marseille, France, in 1978, and acquired logistics giant CGM in 1996. Saade merged the two in 1999 and now owns nearly 75% of CMA CGM, with Turkish investment group Yildirim holding virtually all of the rest. In September 2016, the CMA CGM completed its largest acquisition yet, taking control of NOL (Neptune Orient Lines), a Singaporean container shipping firm known for its APL brand. The combined company has 12% market share and operates nearly 540 vessels serving 420 commercial ports. CMA CGM has entered into a 10-year alliance with three other shipping companies, expected to launch in 2017, that will operate more than 300 ships. Saade’s three children also work for the company.

Source:

1. forbes

2. networthstat