Who Is Hamid Jafar?
Hamid Jafar is a prominent Emirati businessman and philanthropist, renowned for his substantial contributions to the energy sector and his extensive charitable endeavors. Born in 1947 in Baghdad, Iraq, Jafar hails from a family with a rich history in trade and politics. His father, Dhia Jafar, served as a minister in Iraq’s monarchy, which laid the foundation for Hamid’s future ventures. After attending St. Paul’s School in London, Hamid pursued higher education at Churchill College, Cambridge University, where he earned a Bachelor’s degree in Engineering, specializing in Thermodynamics and Fluid Flow, followed by a Master’s degree.
The Rise of the Crescent Group
In 1971, Hamid Jafar founded the Crescent Group, a diversified conglomerate headquartered in Sharjah, UAE. The group comprises two main entities: Crescent Petroleum and Crescent Enterprises. Crescent Petroleum, established in 1971, is the Middle East’s oldest private upstream oil and gas company. It has played a pivotal role in pioneering the natural gas industry in the region, notably through the development of the Khor Mor field and gas plant in the Kurdistan Region of Iraq. Crescent Enterprises, the non-energy division of the group, operates across various sectors, including ports and logistics, power generation, real estate, healthcare, media, and private equity.
Under Hamid’s leadership, the Crescent Group has expanded its operations to over 22 countries, employing more than 7,000 people. The group’s diversified portfolio has been instrumental in its sustained growth and success.
Strategic Investments and Holdings
Hamid Jafar’s strategic investments have significantly contributed to his wealth. One of the group’s notable holdings is a 20% stake in Dana Gas, a leading natural gas company in the Middle East. As of April 2021, this stake was valued at approximately $305 million. Additionally, Crescent Petroleum has invested over $2.6 billion since its inception, underscoring Hamid’s commitment to the energy sector.
Beyond energy, Crescent Enterprises has made significant strides in various industries. The group’s involvement in Gulftainer Ltd, a specialist in container terminal operations, has bolstered its presence in the logistics sector. Gulftainer manages ports in Sharjah, Jubail, and Umm Qasr, further solidifying Hamid’s influence in regional trade and commerce.
Philanthropic Endeavors
Hamid Jafar is deeply committed to philanthropy, focusing on education, healthcare, and support for disadvantaged communities. He serves as the Chairman of the Finance Committee and a member of the Board of Trustees at the American University of Sharjah (AUS). In recognition of his significant contributions, AUS renamed its Center for Executive Education to the Jafar Center for Executive Education in 2011.
In addition to his support for higher education, Hamid has funded the first Professorship in Petroleum Engineering at Cambridge University. His philanthropic efforts extend to healthcare, where he supports charities for disabled and disadvantaged children and cancer treatment. Through the Pearl Initiative, a private sector not-for-profit organization he chairs, Hamid promotes a culture of transparency and accountability in the Gulf region, founded in cooperation with the United Nations Office of Partnerships.
Personal Life and Legacy
Hamid Jafar’s legacy is further carried on by his sons, Majid and Badr Jafar, who have taken on significant roles within the Crescent Group and beyond. Majid Jafar serves as the CEO of Crescent Petroleum, while Badr Jafar is the CEO of Crescent Enterprises. Both have been instrumental in continuing their father’s vision and expanding the group’s reach.
In 2013, Hamid Jafar joined the Giving Pledge, a commitment by the world’s wealthiest individuals to give away the majority of their wealth to address society’s most pressing problems. This move underscores his dedication to philanthropy and his belief in using wealth for the greater good.
Net Worth and Financial Standing
As of 2025, Hamid Jafar’s net worth is estimated at $5.1 billion. This substantial fortune places him among the wealthiest individuals in the UAE. His wealth is primarily derived from his holdings in Crescent Petroleum, Crescent Enterprises, and Dana Gas, as well as his strategic investments in various sectors.
Conclusion
Hamid Jafar’s journey from a young student in Baghdad to a billionaire businessman and philanthropist is a testament to his vision, determination, and commitment to excellence. Through the Crescent Group, he has not only built a diversified business empire but has also made significant contributions to society through his philanthropic efforts. His legacy continues to inspire future generations of entrepreneurs and philanthropists in the UAE and beyond.
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