Bassam Alghanim amassed his fortune through Alghanim Industries, chaired by his brother Kutayba, and through Gulf Bank. A graduate of University of California Berkeley, Bassam now lives in Los Angeles and acts as honorary consul of Saint Kitts and Nevis.
Recently he established Bzam Management of Canada Inc. for cannabis farm acquisition.
Early Life and Education
Bassam Alghanim’s work explores the transformative potential of computer animation, conjuring fantasy dreamscapes where personal mythology and historical trauma intersect with queer possibility. At Gasworks Gallery he presented computer-animated films alongside digitally sculpted objects that explore organic decay.
In March 2008, Bassam and Kutayba inherited Alghanim Industries, an international multi-national that operates in over forty countries globally. Alghanim holds shares in Gulf Bank of Kuwait as well as selling General Motors (GM) and Honda cars, along with running consumer electronics retail outlets.
Even after filing numerous lawsuits in both the U.S. and UK against his brother Kutayba, Bassam has not given up fighting for his inheritance. He has filed numerous claims against his brother – alleging they hacked into his email account as proof.
Yusuf Ahmed Alghanim & Sons expanded its footprint both domestically and abroad during this time, one of its early successes being an agreement with General Motors to import American-made vehicles into Kuwait which led to the formation of an extensive GM agency in Kuwait.
Kutayba Alghanim has earned wide acclaim for modernizing his company by breaking free from longstanding but outdated business practices. He fostered an environment which sought top talent, encouraged innovation and encouraged outside-the-box thinking.
Bassam spearheaded marketing collaborations and strategic alliances with international brands to bolster Alghanim Industries. Today he spends part of his time between Los Angeles and Canada where he serves as Chairman for BZAM Ltd, a Canadian licensed cannabis producer where he reportedly invested $5 Million Canadian dollars.
Achievement and Honors
Bassam Alghanim is known for his innovative and forward-thinking business approach. He excels at anticipating trends and opportunities before anyone else, which has propelled him to become an extremely successful entrepreneur. Most of his wealth derives from Alghanim Industries which he co-manages with his brother Kutayba.
Bassam Alghanim transformed his father’s family-run company by changing its culture into one more contemporary and professional environment, by introducing automated systems and decentralising management structures; encouraging employee feedback while dismantling traditional hierarchies that had existed previously.
At Alghanim Industries, Kutayba witnessed firsthand how ideas and an educated workforce can drive economic prosperity and Kutayba is committed to providing educational opportunities that promote innovation and help produce world-class local talent for managing businesses, expanding into new fields of endeavor and diversifying away from hydrocarbons as a source of economic security.
Bassam Alghanim is a relatively unassuming character who prefers to keep his personal life private while focusing on business ventures such as Bzam Management – an organisation responsible for numerous cannabis deals in Canada.
Yusuf Alghanim built on the success of his grandfather and father’s legacy business by diversifying into new areas and forging partnerships with globally-recognized brands.
As Bassam took control of his family business from Kutayba, they battled over division of assets. Bassam filed suit in the U.S against both of his brothers for hacking into his email, however this case has since been postponed pending arbitration in Kuwait.
Bassam Alghanim possesses a net worth of $1.6 billion dollars and ranks among Kuwait’s richest men. Along with his brother Kutayba, Bassam inherited their father’s company: Alghanim Industries – a multi-national conglomerate operating across forty countries with partnerships such as General Motors, Xerox, British Airways and Whirlpool as its partners.
Bassam and Kutayba have been fighting over how to divide up their inherited assets for some time, with Bassam’s company owning shares in Gulf Bank of Kuwait as well.
In 2009, Bassam sued Kutayba and Omar for hacking his email. While US courts dismissed the suit against them in America, litigation for it remains ongoing in Kuwait. He currently resides in Los Angeles as the honorary consul for Saint Kitts and Nevis in California.