Issad Rebrab is an Algerian businessman and the founder and CEO of Cevital, the largest privately held conglomerate in Algeria. He is also one of the wealthiest people in the country and the continent, with a net worth of $4.6 billion according to Forbes.
Early Life and Education
Issad Rebrab was born on May 27, 1944, in Taguemount-Azouz, a village in Kabylia, Algeria. His father was a farmer and his mother was a housewife. Rebrab is the sixth of eight siblings.
Rebrab attended primary school in his village before going to a high school in Tizi Ouzou. After completing his Baccalaureate in mathematics, he moved to France to study accounting and finance at the École Supérieure de Commerce de Paris.
Career and Achievements
After completing his studies, Rebrab worked for several companies in France, including Thomson and Pechiney. In 1971, he returned to Algeria and started working for the state-owned National Company for Industrial and Mineral Development (SNIM), where he managed the accounting department.
In 1975, Rebrab founded his first company, a small accounting firm. He then went on to establish several other companies, including a construction company, a dairy processing company, and a steel manufacturer.
In 1998, Rebrab founded Cevital, a conglomerate that operates in a variety of sectors, including agriculture, industry, and distribution. Cevital is the largest privately held company in Algeria, with revenues of more than $4 billion.
Under Rebrab’s leadership, Cevital has expanded its operations outside of Algeria, with subsidiaries in Europe, Africa, and the Middle East. In 2018, Cevital acquired the French home appliance manufacturer Brandt and the Italian steel mill Lucchini.
Rebrab is also a philanthropist and has donated millions of dollars to various causes, including education and healthcare.
Issad Rebrab is married and has six children. He is known for his low-key lifestyle and is not often seen in public. However, he is an outspoken critic of the Algerian government and has been involved in several high-profile disputes with state authorities.
In April 2019, Rebrab was arrested on charges of corruption and financial misconduct. He was released on bail in August 2019 and denied the charges against him.
|Born||May 27, 1944|
|Sector||Various (agriculture, industry, distribution)|
|Companies||Cevital, Brandt, Lucchini, and others|
|Net Worth||$4.6 billion (as of 2021)|
|Forbes URL Href||https://www.forbes.com/profile/issad-rebrab/|