Rami Makhlouf

Rami Makhlouf (; born 10 July 1969) is a Syrian businessman and the maternal cousin of president Bashar al-Assad. At the beginning of the Syrian Civil War in 2011, he was considered to be Syria's richest and one of the most powerful man. According to Syrian analysts, he is part of al-Assad's inner circle and no foreign company could do business in Syria at the time without his consent and partnership. In 2016, he was reported to own Syriatel, the largest mobile phone network in Syria, along with other retail, banking and real estate companies. Makhlouf had a falling out with al-Assad in the spring of 2020 and was placed under house arrest, resulting in the arrest of many of his aides, along with the targeting of his companies by security forces. He was stripped of his shares in Syriatel, and the consortium he had established as the biggest investment vehicle in Syria was also taken off line. Makhlouf's remaining assets in Syria are considered to be insignificant compared to the billions he has transferred abroad on behalf of Bashar al-Assad. Early life and education Rami Makhlouf was born on 10 July 1969, and graduated with a degree in Civil Engineering from Damascus University in 1993. He is related to the Assad family through his aunt, Anisa Makhlouf, who was the wife of the late Syrian president Hafez al-Assad. Makhlouf's personal wealth accumulated abroad was estimated to be in excess of $10 billion in 2020. Business activities Makhlouf is the main owner of Syriatel, one of two licensed mobile phone companies in Syria. Besides Syriatel, he is involved in real estate, banking, free trade zones along the border with Lebanon, duty-free shops, and luxury department stores. According to the Financial Times, he is thought to control as much as 60% of the Syrian economy through his web of business interests.