Toufic Aboukhater (1934-2020) was a Monaco-based Palestinian

billionaire A billionaire is a person with a net worth of at least 1,000,000,000, one billion units of a given currency, usually of a major currency such as the United States dollar, euro, or pound sterling. It is a sub-category of the concept of the ultr ...

businessman.

Early life

Aboukhater was born to Palestinian parents in the city of Tiberias, his father was a hotel owner in Tiberias. In 1948 the family moved to Syria then to Lebanon where Toufic completed his education and moved to UAE to work with Royal Dutch Shell, later he became a special economic adviser for the ruler of Ras al Khaima Sheikh Saqr al Qasimi.

Career

In 1998, Aboukhater bought the Loews Hotel Monte-Carlo from Loews Hotels Holding Corporation for an undisclosed price and renamed it the Monte Carlo Grand Hotel. In 2004 the hotel was acquired by hotel chain

Fairmont Hotels and Resorts Fairmont Hotels & Resorts is a global chain of luxury hotel that operates more than 70 properties worldwide, with a strong presence in Canada. The company originated from two hotel businesses established in the late 19th century, the Canadian Pac ...

for Euro 215 million, and it is now the

Fairmont Monte Carlo The Fairmont Monte Carlo is a resort hotel located in the Monte Carlo area of Monaco. It is managed by Fairmont Hotels and Resorts, a subsidiary of the Accor hospitality company. The hotel is situated beside the hairpin turn of the Circuit de Mon ...

. In April 2011, Aboukhater bought seven InterContinental hotels, including the

InterContinental Carlton Cannes Hotel The Carlton Cannes, a Regent Hotels & Resorts, Regent Hotel is a historic 332 room luxury hotel opened in 1911, located at 58 La Croisette in Cannes on the French Riviera in France. It is famous for hosting movie stars from around the world dur ...

and the

InterContinental Amstel Amsterdam The InterContinental Amstel Amsterdam Hotel, commonly referred to as the Amstel Hotel, is a hotel in Amsterdam, capital city of the Netherlands, on the east bank of the river Amstel. In 2007, it was the only hotel in the Netherlands on the list ...

for a reported $643 million. In 2014, he had a net worth of $5.6 billion.

Personal life

He was married and had four sons, Kamal Aboukhater, Bassam Aboukhater, Ghassan Aboukhater, and Houssam Aboukhater. Therese Aboukhater was the mother of his children . Aboukhater died at his home in

Bluffton, South Carolina Bluffton is a town in southern Beaufort County, South Carolina, United States. The population as of the 2020 United States Census, 2020 census was 27,716, an increase of over 120% since the 2010 United States census, 2010 census, making it the Li ...

, US on 6 August 2020.

References

{{DEFAULTSORT:Aboukhater, Toufic Lebanese billionaires Palestinian billionaires 21st-century Palestinian businesspeople Lebanese people of Palestinian descent 1934 births 2020 deaths People from Bluffton, South Carolina