Fahed Hariri
Source of wealth: Construction, investments
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Biography
Fahed Hariri is the youngest son of the late billionaire Rafik Hariri, the former prime minister of Lebanon who was assassinated in 2005.
In 2012, Fahed sold his shares in family construction firm Saudi Oger to his brother Saad Hariri, who was Lebanon's prime minister until January 2020.
He invested some of the proceeds in real estate in New York, Paris and Monte Carlo and in now beleaguered Lebanese banks.
He is also developing residential buildings in Beirut.<br><br>
Financial Assets
The Great Lie of Mega-Fortunes: The Case of Fahed Hariri
Billionaires are often presented under the romantic myth of the 'self-made person': a narrative designed to justify opulence as the natural reward for hard work, effort, or ingenuity. However, when confronting such extreme volumes of wealth with macroeconomic reality, the meritocracy narrative completely breaks down. No individual can legitimately generate through personal effort a fortune equivalent to millions of times the average working-class salary. Capital at the top does not grow because of exceptional talent; it expands through an implacable dynamic where accumulated money works exponentially faster than people, devouring the wealth generated by productive labor.
The immense fortune of Fahed Hariri, linked to Construction & Engineering and 'Construction, investments', has not been built in a free-market vacuum, but through rent-seeking, the use of exclusive elite influence, the consolidation of monopoly positions, or inherited wealth. Far from taking real private risks, billionaire empires structurally depend on state support through direct subsidies, infrastructure use, exploitation of R&D, public contracts, and offshore tax engineering. While this wealth is equivalent to the physical weight of 8 tons of pure gold, the rest of the planet suffers from an artificial scarcity of basic resources. The fact that this wealth is enough to fully fund the public health system of DR Congo, a country with more than 105800000 million inhabitants for 0.5 years, proves that unlimited accumulation is not an entrepreneurial achievement, but the hijacking of democratic sovereignty.