Forbes Middle East - English - April 2021

2021’S BIGGEST MUSIC INDUSTRY DEALS GLOBAL MUSIC STARS WITH ARAB ROOTS

THE CELEBRITY LIST

ARAB MUSIC STARS 2021

WORLD’S HIGHEST-PAID MUSICIANS 5 MUSICIANS TURNED SERIAL ENTREPRENEURS

APRIL 2021 ISSUE 103

WASSIM “SAL” SLAIBY

“I WANT TO SEE ARABIC MUSIC WIN ON A GLOBAL LEVEL”

APRIL 2021 ISSUE 103

A DIFFERENT BEAT THE WEEKND’S LEBANESE MANAGER AND CEO OF XO RECORDS HAS STRUCK A NEW ARAB-FOCUSED DEAL WITH UNIVERSAL TO BOOST ARABIC MUSIC INTERNATIONALLY. OTHERS.............................. $8

OMAN.......................... OMR 3

BAHRAIN....................BHD 3

UAE............................. AED 30

QATAR........................QAR 30

KUWAIT...................KWD 2.5

SAUDI ARABIA.........SAR 30

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6 I Sidelines Tune In To Something New

By Claudine Coletti LEADERBOARDS

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Global Music Stars With Arab Roots A number of established and some up-and-coming international musicians were either born in the Middle East or have Arab ancestry. Here are 10 global musicians with Arab roots.

By Samar Khouri

CONTENTS

8I

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BUSINESS

12 I

5 Musicians Turned Serial Entrepreneurs Musicians are increasingly using their connections, capital, and clout to build business empires. Here are five business-savvy musical artists that have turned their side hustles into moneymaking engines.

By Jamila Gandhi BILLIONAIRES

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The 10 Richest People In Media And Entertainment

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The recent digital boom has made many of the rich richer, especially within the media and entertainment industries. Here are the planet’s most influential and wealthy 10 people who owe their fortunes to newspapers, television, gaming, and video outlets, according to Forbes’ World Billionaires 2020 list. The all-boys-club is dominated by North Americans, with only three self-made tech entrepreneurs representing East Asia.

By Jamila Gandhi CELEBRITY

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The Ultimate Arab Star Lebanese singer and cultural icon Fairuz is simply a living legend in the Arab world. Here are some key facts about the revered singer.

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By Samar Khouri ENTERTAINMENT

18 I World’s Highest-Paid Musicians Here’s a look at some of the world’s highest-paid musicians according to Forbes’ 2020 list of the World’s Highest-Earning Celebrities. Some are still actively making music; some have taken a different route. Figures were calculated using pretax earnings from June 2019 to May 2020 before deducting managers, lawyers, and agents’ fees.

By Jamila Gandhi

20 I Grammys 2021: The Full Winners List

26 I Recorded Music Revenues In MEA

Surged By 8.4% In 2020

The recorded music revenue in the Middle East and Africa (MEA) region witnessed an 8.4% surge last year, according to the annual report by the International Federation of the Phonographic Industry (IFPI), largely driven by streaming.

By Samar Khouri

28 I 2021’s Biggest Music Industry Deals, So Far

Before announcing Billie Eilish as the 2021 Grammy winner for Record of the Year, Ringo Starr said, “If you’re making music in our world today, you’ve already won.”

In May 2020, Goldman Sachs projected that the global music industry’s revenue would increase from $62 billion in 2017 to $131 billion in 2030. With music increasingly identified as a lucrative investment opportunity, here are the companies that have already bet big on the sector this year with multi-million-dollar deals.

By Abigail Freeman

By Jamila Gandhi

F O R B E S M I D D L E E A S T.C O M

APRIL 2021

THE CELEBRITY LIST

ARAB MUSIC STARS 2021 CONTENTS

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Uptempo Music streaming app Deezer’s CEO for MENA and Turkey, Tarek Mounir, is eying market leadership in the Middle East with exclusive local backing. Still, competition continues to increase from both local and international players.

By Samuel Wendel

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Playlist For Success After a historic listing on Nasdaq, music streaming platform Anghami is amplifying its technology to build a generation of Arab audio influencers, according to its CTO Elie Habib.

By Jamila Gandhi F O R B E S M I D D L E E A S T.C O M

APRIL 2021

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April 2021

Issue 103

•

CONTENTS

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INSIDE

•

COVER STORY

A Different Beat

With his roots in Lebanon, today Wassim “Sal” Slaiby—CEO of record company XO and CEO and founder of management company SALXCO—manages headline-hitting international stars, including The Weeknd.

His goal now is to elevate Arabic music on a global stage through a new Arab-focused deal with Universal Music Group.

By Samuel Wendel

F O R B E S M I D D L E E A S T.C O M

APRIL 2021

PHOTOGRAPHY BY KOURY ANGELO

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no bunny kisses but easter wishes

patchi.com

SIDELINES

FORBES MIDDLE EAST

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Tune In To Something New I remember very clearly spending Sunday afternoons as a kid in the early 90s listening to the Top 40 singles chart being counted down on the radio and having a blank cassette ready in my (bright red) ghetto blaster so that I could quickly press the record buttons when a song I liked came on. The art was guessing when to press stop before the presenter started speaking again. If I really liked something I’d head down to the shops to buy the single, or I’d save up my money and wait for the album.

Aside from my trip down memory lane giving away my age, it also shows just how much things have changed in 20 years or so, from the early launch of Napster in 1999, followed

by YouTube in 2005, followed by many others since. Music fans of all ages these days don’t visit record stores to choose between vinyl, cassettes, and CDs—they expect everything straight away at a click. They stream, they subscribe, and they download. And they do so in huge numbers.

This means big bucks for the streaming platforms. Global leader, Spotify, was worth over $54 billion as of March this year. Last year, YouTube was already reportedly a more than $15 billion per year business, and that was before the mass lockdown-induced digital migration of 2020. Good news for the likes of billionaires Daniel Ek and Martin Lorentzon (founders of Spotify), and Sergey Brin and Larry Page (founders of Google, owner of YouTube).

With home-grown Middle East streaming platform Anghami now listing on Nasdaq I’m sure founders Eddy Maroun and Elie Habib are hoping for similar success.

But even for those of us non-billionaire users, this evolution has been a good thing in many ways. As someone that remembers the old days but is now absorbed in the new, having music at my fingertips has opened my eyes, and ears, to artists that I just wouldn’t have looked into before. For example, when reading this month’s list of the stars of the Arabic music scene, I admit I had YouTube open at the same time—for research purposes only of course. I found myself scrolling through the hits and becoming a bit addicted to Gims and Mohamed Ramadan’s “Ya Habibi,” which is in French and Arabic, neither of which I speak.

You only need to look at the growing popularity of bands like Korean K-Pop sensations BTS in Western markets to see that easy access and online sharing is seeing music beginning to transcend stereotypes and language barriers in some of the industry’s biggest markets. This could mean even more success for Arabic musicians in future as new fans tune in.

I hope you find some new favorite artists in this month’s issue.

—Claudine Coletti, Managing Editor

F O R B E S M I D D L E E A S T.C O M

APRIL 2021

INNOVATING SINCE 2010 APRIL 2021 ISSUE 103 Dr. Nasser Bin Aqeel Al Tayyar President & Publisher

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Editorial

Business Development

Claudine Coletti Managing Editor claudine@forbesmiddleeast.com

Ruth Pulkury Senior Vice President - Business Development

Laurice Constantine Digital Managing Editor laurice@forbesmiddleeast.com

ruth@forbesmiddleeast.com

Fouzia Azzab Senior Arabic Editor fouzia@forbesmiddleeast.com

Joseph Chidiac Chief Business Development Officer joe@forbesmiddleeast.com

Jamila Gandhi Senior Reporter jamila@forbesmiddleeast.com

Fiona Pereira Senior Business Development Manager fiona@forbesmiddleeast.com

Samar Khouri Online Editor samar@forbesmiddleeast.com

Philip Smith Senior Business Development Manager philip@forbesmiddleeast.com

Amany Zaher Quality Editor amany@forbesmiddleeast.com

Arif Abdul Business Development Manager arif@forbesmiddleeast.com

Cherry Aisne Trinidad Online Editor aisne@forbesmiddleeast.com

Upeksha Udayangani Client Relations Executive upeksha@forbesmiddleeast.com

Nermeen Abbas Senior Reporter nermeen@forbesmiddleeast.com

Tayyab Riaz Mohammed Financial Controller riaz@forbesmiddleeast.com

Juweyria Hersi Editorial and Marketing Executive editorial@forbesmiddleeast.com

Research

Jason Lasrado Head of Research jason@forbesmiddleeast.com Ahmed Mabrouk Senior Researcher ahmed@forbesmiddleeast.com Soumer Al Daas Head of Creative soumer@forbesmiddleeast.com Julie Gemini Marquez Brand & Creative Content Executive julie@forbesmiddleeast.com Sinnate Yafa Videographer yafa@forbesmiddleeast.com Kashif Baig Social Media Manager kashif@forbesmiddleeast.com Karthik Krishnan Event and Conference Manager karthik@forbesmiddleeast.com Mohammed Ashkar Assistant IT Manager ashkar@forbesmiddleeast.com Muhammad Saim Aziz Web Developer saim@forbesmiddleeast.com Habibullah Qadir Senior Operations Manager habib@forbesmiddleeast.com Daniyal Baig Chief Operating Officer daniyal@forbesmiddleeast.com

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• LEADERBOARD • Entertainment

Global Music Stars With Arab Roots A number of established and some up-and-coming international musicians were either born in the Middle East or have Arab ancestry. Here are 10 global musicians with Arab roots.

Mika

Born in Lebanon in the mid-80s but raised in Paris and London, Mika gained international acclaim in 2007 with his single “Grace Kelly,” which went on to sell three million copies globally. He has since released three albums and sold over 10 million records worldwide.

In February 2021, the self-taught piano virtuoso was awarded the Lebanese National Order of Merit – Silver Palm for his “I Love Beirut” benefit concert in the aftermath of the 2020 port explosion in Lebanon’s capital.

The concert raised over $1.1 million, which was split between the Lebanese Red Cross and Save the Children.

Shakira

Shakira is an established global superstar of Lebanese decent. She has sold over 80 million records since the release of her first album in 1991, which she recorded at age 13. The three-time Grammy award winner took the stage at the Super Bowl LIV halftime show in 2020 alongside Jennifer Lopez. In January, the Board of Hipgnosis Songs Fund Limited acquired 100% of the music publishing rights for all of Shakira’s 145 tracks, including publishing and writer’s share of income.

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BY: SAMAR KHOURI; SHAKIRA PHOTO BY KEVIN WINTER/GETTY IMAGES VIA AFP; MIKA PHOTO BY IGNAZIO FIORENZA/SHUTTERSTOCK.COM

LEADERBOARD

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R3hab’s real name is Fadil El Ghoul, and he is a Dutch producer and DJ of Moroccan descent. Over his 14-year career, he’s teamed up with various artists, including ex-One Direction member Zayn Malik, K-pop star Chung Ha, and Egyptian singer Carmen Soliman. In 2016, he left Spinnin’ Records and decided to release all of his work on his own label, CYB3RPVNK. He was the first artist to launch a single on Saudi Arabia’s new record label MDLBEAST Records, launching “Ringtone” featuring Polish startup producers Fafaq and DNF on February 26, 2021.

DJ Khaled

Khaled Mohamed Khaled was born in New Orleans in 1975 to Palestinian immigrant parents. Today the Grammyaward-winning, multi-platinum artist earns millions from endorsements with companies such as Apple, Weight Watchers, and T-Mobile. As of April 6, 2020, he had made $36.5 million according to Forbes’ 2020 Celebrity 100 Earnings list. He founded “We the Best Music Group,” which signed a deal with Epic Records in 2016.

French Montana

R3HAB PHOTO BY DAVE KOTINSKY/GETTY IMAGES VIA AFP; FRENCH MONTANA, LEV RADIN/SHUTTERSTOCK.COM; DJ KHALED, FEATUREFLASH PHOTO AGENCY/SHUTTERSTOCK.COM; PAULA ABDUL, LEV RADIN/SHUTTERSTOCK.COM

French Montana’s real name is Karim Kharbouch, and he migrated from Morocco to the U.S. when he was 13 years old. The rapper launched his debut album, Excuse My French, in 2013. The video for his 2017 single, “Unforgettable” with Rae Sremmurd’s Swae Lee, has been viewed more than a billion times on YouTube. He visited Uganda to film the video and went on to donate money to build hospitals in the country. In 2018, he was named a Global Citizen ambassador for his charity work.

Paula Abdul

Singer-dancer-choreographer, Paula Abdul, was born in California in 1962 to a FrenchCanadian mother and a Syrian father. Discovered by The Jacksons, the former LA Lakers cheerleader was hired for the Jacksons’ Victory tour in the 1980s. The former American Idol judge scored her first hit in 1989 with “Straight Up” from her debut album “Forever Your Girl,” which sold over 12 million copies worldwide and hit the No. 1 spot on the Billboard 200 chart. She won an Emmy in 1989 and a Grammy in 1990.

F O R B E S M I D D L E E A S T.C O M

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R3hab

APRIL 2021

Bazzi

David Guetta

Ali Gatie

Iraqi-Canadian artist Gatie hit the mainstream charts when his breakout number “It’s You” made an appearance on the Billboard Hot 100 in 2019. By March 11, 2021, it had surpassed almost 200 million views on YouTube. According to Warner Records, Gatie’s first six shows sold out in less than 10 minutes.

Faouzia

Moroccan-Canadian singer-songwriter Faouzia joined forces with John Legend for the track “Minefields” at the end of January 2021, having been invited by Kelly Clarkson to sing the Arabic cover of her song “I Dare You” in April 2020. The rising musician also performed a free concert for the Abu Dhabi Cultural Foundation in November.

F O R B E S M I D D L E E A S T.C O M

APRIL 2021

DAVID GUETTA PHOTO BY STEPHANE DE SAKUTIN/AFP; BAZZI, BRANDON NAGY/SHUTTERSTOCK.COM; ALI GATIE PHOTO FROM @ALIGATIE/INSTAGRAM; FAOUZIA PHOTO FROM @FAOUZIA/INSTAGRAM

LEADERBOARD

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DJ David Guetta was born in Paris to a Belgian mother and a Moroccan father. He has won two Grammy awards and nine nominations overall.

On February 6, he performed a free online concert from the helipad of Dubai’s iconic Burj Al-Arab hotel to raise funds for the UNICEF and Dubai Cares’ “Education Uninterrupted” campaign. Last year, he scored two Guinness World Records for being the most liked DJ on Facebook and for the most views for a DJ set live stream on Facebook. He raised over $1.5 million for COVID-19 relief with his “United At Home” live stream events in New York and Miami, which attracted over 50 million viewers worldwide.

American-Lebanese singersongwriter Bazzi’s 2017 self-released song “Alone” on Soundcloud generated over a million Spotify streams within a few months of being released according to Atlantic Records. Bazzi has toured with Justin Timberlake and Camilla Cabello. The Michigan-born, R&B/pop singer bagged his first Grammy nomination in 2020 for his song “Young & Alive” alongside Haywyre.

He has over 15 million monthly users on Spotify and nearly three million YouTube subscribers.

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APRIL 2021

Business

5 Musicians Turned Serial Entrepreneurs Musicians are increasingly using their connections, capital, and clout to build business empires. Here are five business-savvy musical artists that have turned their side hustles into money-making engines.

Jay-Z

Jay-Z and Beyonce

CO-FOUNDED: Roc Nation, Marcy Ventures Partners Hip-hop’s first billionaire, Shawn “Jay-Z” Carter, has an empire encompassing beverages, art, real estate, and technology investments.

The rap artist co-founded Roc-AFella Records in 1995 and global entertainment company Roc Nation in 2008. In 2018, Jay-Z co-founded venture capital fund Marcy Venture Partners with Jay Brown and Larry Marcus. Named after the housing project he grew up in, the fund’s portfolio raised $85 million in 2019. Forbes listed the 51-year-old as one of the world’s highest-paid entertainers in 2020, with earnings of $53.5 million. The Brooklyn native had a real-time net worth of $1.4 billion as of March 10, 2021.

Beyonce

BY: JAMILA GANDHI; PHOTO BY GARETH CATTERMOLE/GETTY IMAGES

LEADERBOARD

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FOUNDED: Ivy Park Pop culture icon Beyonce KnowlesCarter first rose to fame as the lead singer in girl-group Destiny’s Child. The musician started an accessible fashion label called “House of Déreon” with her mother in 2006, established entertainment firm Parkwood Entertainment in 2008, and launched an activewear line named “Ivy Park” in 2016. She announced a new collaboration with retailer Adidas to relaunch F O R B E S M I D D L E E A S T.C O M

APRIL 2021

Rihanna

RIHANNA PHOTO BY CUBANKITE/SHUTTERSTOCK.COM; SEAN COMBS, DFREE/SHUTTERSTOCK.COM; LADY GAGA, DENIS MAKARENKO/SHUTTERSTOCK.COM

FOUNDED: Fenty Despite her musical success in the early 2000s, Barbadian singer Robyn “Rihanna” Fenty has acquired the bulk of her fortune from Fenty Beauty, Fenty Skin, and Savage X Fenty lingerie line—brands she co-owns with French luxury goods group LVMH. She became the first black woman to lead a house under LVMH when the Fenty range launched in 2019.

Her beauty and skincare line grossed over $600 million in sales in 2019, and Rihanna’s stake is an estimated $375 million, making it her most valuable asset. In February, LVMH and Rihanna announced that Fenty’s ready-to-wear apparel would be “put on hold” pending better market conditions. Forbes listed the 33-yearold as one of the world’s highest-paid entertainers in 2020, with earnings of $46 million.

Sean Combs

FOUNDED: Combs Enterprises Known by his stage names “P Diddy” and “Puff Daddy,” American rapper, singer, songwriter, and record producer Combs launched his company Bad Boy Entertainment in 1992.

As chairman and CEO of Combs Enterprises, the 51-year-old oversees a portfolio of brands and interests that includes music, beverage, entertainment, media, fragrance, fashion, and marketing. Forbes listed the 51-year-old as one of the world’s highest-paid entertainers in 2020, with earnings of $55 million.

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Ivy Park in 2019. Her BeyGOOD non-profit foundation launched the Black-Owned Small Business Impact Fund with the National Association for the Advancement of Colored People (NAACP) in July 2020 to strengthen small businesses and ensure economic empowerment. Forbes ranked the 39-year-old 72nd on its Power Women 2020 list.

Lady Gaga

Lady Gaga

FOUNDED: HAUS Laboratories Award-winning vocalist and actor Gaga took on the role of beauty entrepreneur in 2019 with the launch of her startup, HAUS Laboratories.

Born Stefani Joanne Angelina Germanotta, the American musician’s first independent business has raised over $10 million in venture funds and is sold exclusively on Amazon. Every $1 from a paid transaction on hauslabs. com is donated to Gaga’s Born This Way Foundation, a non-profit founded in 2012 to tackle mental health. In 2020, Forbes listed Gaga as one of the world’s highest-paid entertainers, with earnings of $38 million. The lead actress of “A Star Is Born” was the first woman and only the second person ever to win an Oscar, Grammy, BAFTA, and Golden Globe in one year.

F O R B E S M I D D L E E A S T.C O M

APRIL 2021

Billionaires

The recent digital boom has made many of the rich richer, especially within the media and entertainment industries. Here are the planet’s most influential and wealthy 10 people who owe their fortunes to newspapers, television, gaming, and video outlets, according to Forbes’ World Billionaires 2020 list. The all-boys-club is dominated by North Americans, with only three self-made tech entrepreneurs representing East Asia. Net worths are as of March 10, 2021.

Michael Bloomberg NET WORTH: $59 billion SOURCE OF WEALTH: Bloomberg LP COUNTRY: U.S.

Bloomberg co-founded financial information and media firm Bloomberg LP in 1981. He put in the seed funding for the company and now owns 88% of the business, which has revenues north of $10 billion. Bloomberg got his start on Wall Street in 1966 with an entry-level job at investment bank Salomon Brothers. The former New York City mayor and philanthropist has donated more than $5 billion to campaigns on gun control and public health. The environmentalist was appointed as a special envoy on climate ambition and solutions in February 2021. The 79-year-old tycoon ran for president in November 2019, spending millions to defeat Donald Trump’s reelection, but quit the race in March 2020.

David Thomson & family NET WORTH: $42.1 billion SOURCE OF WEALTH: Media COUNTRY: Canada

Thomson and his family reign over a media and publishing empire founded by his grandfather Roy Thomson. The family’s biggest holding is over 320 million shares of Thomson Reuters, where 63-year-old Thomson serves as chairman. The group posted a 2% F O R B E S M I D D L E E A S T.C O M

Michael Bloomberg

year-on-year increase in its 2020 fourth-quarter revenue, compared to the same period a year ago. In 2018, Thomson Reuters announced it was selling a controlling stake in Refinitiv, a financial data provider, to Blackstone for $17 billion.

Thomson Reuters and Blackstone’s consortium subsequently agreed to sell Refinitiv to London Stock Exchange Group plc (LSEG) in August 2019. In January 2021, the company declared that it had closed the Refinitiv sale to LSEG in an all-share transaction.

Rupert Murdoch & family NET WORTH: $23.7 billion SOURCE OF WEALTH: Newspapers,

TV network COUNTRY: U.S.

A native Australian, Murdoch inherited a newspaper at age 22

after his father, a former war correspondent, passed away. Today, the 89-year-old controls a media empire that consists of cable channel Fox News, The Times of London, and The Wall Street Journal. He sold most of Fox’s movie studio, FX and National Geographic Networks, and Star India’s stake to Disney for $71.3 billion in March 2019. The magnate’s net worth grew from $12 billion in 2017 to $19.1 billion in 2019, the year the sale took place. In 2016, the thrice-divorced billionaire married former model and Mick Jagger’s ex-wife, Jerry Hall, in London.

Su Hua NET WORTH: $18 billion SOURCE OF WEALTH: Video

streaming

COUNTRY: China

Hua co-founded Kuaishou as a GIFmaker app in 2011, then transformed it into a video-sharing and livestreaming platform. In January 2015, Kuaishou had 10 million daily active users, and by March 2020, that figure exceeded 300 million. The platform’s notable investors include DCM Ventures, Morningside Venture Capital, Sequoia Capital, Temasek Holdings, Tencent, and Baidu. Hua, a native of Hunan, was reportedly born in a village that didn’t have electricity until 1998. Before founding Kuaishou, the 39-year-old worked as a programmer at Baidu and Google.

APRIL 2021

BY JAMILA GANDHI; PHOTO BY LEV RADIN/SHUTTERSTOCK.COM

LEADERBOARD

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The 10 Richest People In Media And Entertainment

is also the co-founder of the Satellite Broadcasting Communications Association.

Donald Newhouse NET WORTH: $17.5 billion SOURCE OF WEALTH: Media COUNTRY: U.S.

David Geffen NET WORTH: $9.5 billion SOURCE OF WEALTH: Movies,

records labels

COUNTRY: U.S.

Cheng Yixiao NET WORTH: $14.3 billion SOURCE OF WEALTH: Video

streaming app COUNTRY: China

Yixiao co-founded Kuaishou with Su Hua, a short video platform headquartered in Beijing. The conglomerate has over 10,000 employees and offices in China, the U.S., India, and Brazil. In July 2020, the Tencent-backed platform became Formula E’s exclusive shortvideo content partner, exclusive live streaming short-video platform, and official promotional partner.

Forrest Li

BLOOMBERG/BLOOMBERG VIA GETTY IMAGES

NET WORTH: $12.3 billion SOURCE OF WEALTH: Gaming COUNTRY: Singapore

An ex-Motorola recruiter, Li founded online gaming and e-commerce firm Sea, which also has interests in e-payments and financial services.

The 43-year-old Stanford alumna entered the ranks of Singapore’s richest after listing Sea on the New York Stock Exchange in October 2017. Backed by Tencent, which now F O R B E S M I D D L E E A S T.C O M

Forrest Li

has a 20% stake, Sea runs operations in Indonesia, Taiwan, Vietnam, Philippines, Malaysia, and Singapore.

Its three verticals across digital entertainment, e-commerce, and digital financial services are Garena, Shopee, and AirPay. When a college tutor couldn’t pronounce his Chinese name Xiaodong, Li adopted the name Forrest after watching the movie Forrest Gump.

Charles Ergen NET WORTH: $9.8 billion SOURCE OF WEALTH: Satellite TV COUNTRY: U.S.

Ergen is the co-founder and chairman of satellite TV provider Dish Network and satellite communications firm EchoStar. The 68-year-old first began selling satellite dishes out of the back of a truck in Colorado in 1980. Dish went public in 1996 and serves more than 11 million subscribers today. In 1999, he helped secure the Satellite Home Viewer Improvement Act, enabling American consumers to access local channels via satellite. He

Serial entrepreneur Geffen is the founder of record labels Asylum Records, Geffen Records, DGC Records, and popular film studio DreamWorks. The California-based entertainment tycoon began his career in the mailroom of talent agency William Morris, where he rose to become an agent. He owns one of NYC’s most expensive apartments, a house in the Hamptons and the Jack L. Warner estate in Beverly Hills. In 2012, he created the David Geffen Medical Scholarship Fund with a $100 million donation. Geffen pledged $150 million to the Los Angeles County Museum of Art in 2017, the largest gift in the museum’s history.

Jim Kennedy NET WORTH: $9.4 billion SOURCE OF WEALTH: Media,

automotive

COUNTRY: U.S.

Kennedy serves as the chairman of automotive and media company Cox Enterprises, which he owns with his sister and cousins. He also served as CEO from 1988 to 2008; under his leadership, revenues rose from $1.8 billion to $21 billion. Kennedy’s grandfather, James M. Cox, founded Cox Enterprises in 1898 when he purchased the Dayton Evening News and he began as a production assistant in the newspaper division in 1972. The 73-year-old inherited his 25% stake in Cox Enterprises from his mother, who died in 2007.

The philanthropist actively supports several causes, including education, healthcare, and sustainability projects.

APRIL 2021

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Newhouse and his late brother, Samuel “Si” inherited the publishing and broadcasting empire Advance Publications, which their father Sam built up from the daily Staten Island Advance. Today, Advance is among the largest shareholders in Charter Communications, Discovery, and social news site Reddit. One of the holding company’s media groups, Conde Nast, sold W Magazine, Brides, and Golf Digest in 2019, laying off 100 employees in May 2020. In January 2020, 91-year-old Newhouse’s foundation donated $75 million to Syracuse’s communications school.

Celebrity

The Ultimate

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Arab Star Lebanese singer and cultural icon Fairuz is simply a living legend in the Arab world. Here are some key facts about the revered singer.

Fairuz’s real name is Nouhad Haddad, but during her career she has also been dubbed the “Ambassador to the Stars” or the “Jewel of Lebanon.”

“Fairuz” translates to “turquoise” in Arabic.

Lebanese diva Fairuz in 1974

She was discovered at the age of 14 by composer Muhammad Fleifel who encouraged her to enrol at Lebanon’s music conservatory. She had her first hit with “Itab” in 1952, and her first major performance at the Baalbeck International Festival in 1957.

From the 50s to the 70s she formed a popular musical trio with the Rahbani brothers: her late-husband, composer Assi Rahbani, whom she married in 1954, and his brother Mansour Rahbani.

In 1999, Las Vegas hotel the MGM Grand reportedly invested roughly $1.5 million in an appearance by Fairuz, including flying in her 48-member entourage and advertising costs. The show was estimated to have been attended by over 14,000 people, with over 5,000 reportedly outside listening.

Assi Rahbani, husband of Fairuz, hugs his youngest daughter Rima in 1970s

BY SAMAR KHOURI

Fairuz had four children with Rahbani, who died in 1986. Their eldest son, Ziad, followed in the musical footsteps of his late father and uncle, while their youngest daughter Rima now produces and films her mother’s concerts.

Throughout Lebanon’s civil war, Fairuz received national acclaim for remaining in the country, and for F O R B E S M I D D L E E A S T.C O M

From nostalgic odes and folk tunes to patriotic hymns, her vast, prodigious body of work delves into topics such as love, Lebanon, solidarity, peace, village life, and the Palestinian cause. As such, she is a symbol of unity in crisis-hit Lebanon.

French President Emmanuel Macron met with the reclusive singer at her house in Rabieh, north of Beirut, during his visit to the city following the catastrophic Beirut port explosion in August 2020 that left some 300,000 people homeless.

The 85-year-old has rarely been seen in public in recent years. She spent several years without new material until 2017, when Rima produced her mother’s last album, “Bebalee.”

Fairuz performs at Beirut's Picadilly Theatre in 1975

Her songs have been played over 515 million times on Anghami.

APRIL 2021

BY SAMAR KHOURI; @FAYROUZOFFICIAL/TWITTER AND IMAGES FROM AFP

The iconic singer has captivated audiences across the world from Cairo to Dubai, Paris, and London for over 60 years.

refusing to take sides. Her first postwar concert in Beirut’s downtown amassed tens of thousands of people in 1994.

PRO M OTI O N

Rooted In Tradition While Defining The Future

With historical roots across more than seven decades of enterprise, the Mohamed & Obaid AlMulla Group’s respect for culture co-exists with modernity.

T

he Dubai-based Mohamed & Obaid Almulla Group’s origins date back to 1942, when it entered the market as a private familyowned business in the construction sector.

With keen foresight and a vigorous pursuit of innovative strategies, it went on to diversify into strategic areas of economic growth such as hospitality, healthcare, real estate, and travel & tourism, contributing to Dubai’s spectacular growth with some of the most path-defining and iconic brands in these sectors.

The group’s vision and purpose are driven by patriotism and pride for the U.A.E., and the commitment to being a partner in nation-building.

An early role model in the U.A.E. in integrating corporate governance laws and international benchmarking as its core values, the group’s operating structure reports to an elected governing body that monitors and tracks its goals, achievements, and processes.

As the world heads into a distinctly redefined future, the group continues to blaze the trail, ensuring that its vision is in full service of the community and the nation.

The main pillars of the Mohamed & Obaid AlMulla Group are as follows: Healthcare: American Hospital Dubai, the group’s flagship brand,

which is affiliated to the prestigious Mayo Clinic Care Network, is a benchmark in the U.A.E.’s healthcare sector, delivering American standards of medical care and patient safety to the U.A.E. and the region.

The group’s other significant divisions in healthcare are Monrol UAE, the first commercial manufacturer of radiopharmaceuticals in Dubai catering to the U.A.E. and GCC markets. Also, UNIMED, the procurement specialist and supplier of a range of healthcare products and services in the U.A.E. Hospitality: The group’s longstanding partnership with international hospitality brand, IHG, has given Dubai many awardwinning hotels. Ishraq hospitality, the asset management division of the Mohamed & Obaid AlMulla Group with over a decade of experience in operating some of the most prestigious international hotel franchises in Dubai, owns and manages a diverse portfolio of properties, including the Holiday

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F O R thoughts B E S M I D Dexpressed L E E A S T.C O

Inn Express hotels of the IHG group: Holiday Inn Express Dubai Airport; Holiday Inn Express Dubai – Jumeirah; Holiday Inn Express Dubai – Internet City; Holiday Inn Express Dubai – Safa Park; Holiday Inn Dubai Al Maktoum Airport; Staybridge Suites Dubai Al Maktoum Airport; Crowne Plaza Deira; and Ramada Jumeirah.

Ishraq hospitality recently signed a Management Development Agreement with IHG to open eight new Holiday Inn Express hotels across MENA. The group’s travel and tourism arm, launched in 2007 to meet growing travel demands, has grown to offer a wide range of inbound/ outbound travel services for corporates and leisure travelers. It is ready to take on a leading role in a world of changing travel trends.

Real estate: Beginning in the late 70s with the iconic AlMulla Plaza, Dubai’s first mixed-use property and an enduring landmark, the real estate division, owning a significant land bank in Dubai, is a leading property management operation comprising a mix of prestigious assets including residential, ccommercial and retail.

APRIL 2021

17

Entertainment

World’s Highest-Paid Musicians Here’s a look at some of the world’s highest-paid musicians according to Forbes’ 2020 list of the World’s Highest-Earning Celebrities. Some are still actively making music; some have taken a different route. Figures were calculated using pretax earnings from June 2019 to May 2020 before deducting managers, lawyers, and agents’ fees.

Kanye West

a live performer. In 2019, her Sweetener World Tour grossed $146 million, and she became the youngest Coachella headliner in the festival’s 20-year history.

The 27-year-old also became the first artist to reign the Billboard Hot 100 with three independent entries.

As of February 2021, the vocalist had landed eight No 1 hits on the Pop Airplay chart, tying with Justin Timberlake for the thirdmost leaders on the list.

Kanye West

EARNINGS: $170 million COUNTRY: U.S. GENRE: Rap, hip-hop

West owes much of his wealth to his business venture, Yeezy, which was valued at $1.2 billion in April 2020. He owns 100% of his sneaker brand and gets an annual royalty from manufacturer and distributor Adidas. Yeezy has also expanded into an apparel line. In September 2020, retail giant Gap and West announced a collaboration of West’s Yeezy clothing designed for Gap. In the same month, West tweeted that he’s “not putting no more music out till I’m done with my contract with Sony and Universal.” The billionaire rap-mogul also had a short-lived stint as a U.S. presidential hopeful last year. Forbes estimated West’s real-time net worth to be $1.3 billion as of March 10, 2021.

Elton John EARNINGS: $81 million COUNTRY: U.K. GENRE: Rock, pop

In 2019, John’s Farewell Yellow Brick Road Tour F O R B E S M I D D L E E A S T.C O M

Jonas Brothers EARNINGS: $68.5 million COUNTRY: U.S. GENRE: Pop

grossed $212 million, marking the second-highest tally in the music business.

The 73-year-old’s 300show, five-continent tour is currently on pause due to the pandemic. In April 2020, the Elton John AIDS Foundation announced a $1 million emergency fund to help those with HIV maintain their care amid the global pandemic. John also participated in the “Living Room Concert for America”

last year to help with COVID-19 relief measures, which organizers revealed had raised $8 million.

Ariana Grande EARNINGS: $72 million COUNTRY: U.S. GENRE: Pop

Grande was the highestpaid female musician on Forbes’ 2020 list of the highest-earning celebrities, mainly from her success as

The Jonas Brothers were making more than $1.5 million per show before wrapping their reunion tour in February 2020. The success of those live shows led to the band featuring on the Forbes’ list of the highest-earning celebrities for the first time in a decade. In March, Nick Jonas confirmed that the trio are still a band on a Saturday Night Live show.

The prominent male group won the “Top Duo/Group” and “Top Radio Songs Artist” at the Billboard Music Awards 2020.

APRIL 2021

BY JAMILA GANDHI ; PHOTO BY ROBIN MARCHANT/GETTY IMAGES VIA AFP

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Chainsmokers EARNINGS: $68 million COUNTRY: U.S. GENRE: Electronic dance

music, pop

Ed Sheeran EARNINGS: $64 million COUNTRY: U.K. GENRE: Pop

Between March 2017 and August 2018, British singer-songwriter Sheeran’s Divide Tour grossed $775 million. The massive score from the live shows gave him the highest-grossing concert tour of all time, surpassing U2’s previous record for a single tour in 2009-2011. Sheeran, who has the Heinz ketchup logo tattooed on his arm, struck a deal with the brand that includes commercials and a limited-edition bottle. He is currently the only musician to have had two videos accrue three billion views.

PHOTO BY SUZANNE CORDEIRO / AFP

Taylor Swift EARNINGS: $63.5 million COUNTRY: U.S. GENRE: Pop, country

Swift released a new album “Lover” in 2019, the first in her new deal with Universal’s Republic F O R B E S M I D D L E E A S T.C O M

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American electronic DJs and production duo, Alex Pall and Andrew Taggart, transformed themselves to arena rockers for their most recent World War Joy Tour in 2019. In the same year, Forbes listed the Chainsmokers as the world’s highest-paid DJs, dethroning Calvin Harris after six years. In July 2020, the duo held a drivein charity concert called “Safe and Sound.”

Rolling Stones

Records. In July 2020, she surprise-released “Folklore,” written and produced entirely in quarantine. It was the year’s first album to sell a million units. In February 2021, Swift dropped a re-recorded version of her album “Fearless.” The move signaled her ownership over her material after music tycoon Scooter Braun controversially acquired and later sold the rights to her first six albums without her consent. The 31-yearold has won 10 Grammy awards over the course of her career.

Post Malone EARNINGS: $60 million COUNTRY: U.S. GENRE: Rap, hip-hop

Austin Richard Post, known by his stage name Post Malone, was banking over $1.3 million per city when the COVID-19 pandemic disrupted his tour in mid-March last year. His third studio

album, “Hollywood’s Bleeding,” helped him move nearly six million album-equivalent units in 12 months. According to Nielsen, Spotify named Malone the most-streamed artist of 2019.

retail outlet, RS No.9 Carnaby, would open in London’s Soho district and feature Rolling Stones memorabilia and rockand-roll paraphernalia.

Rolling Stones

EARNINGS: $56 million COUNTRY: U.S. GENRE: Electronic dance

EARNINGS: $59 million COUNTRY: U.K. GENRE: Rock

The Stones’ No Filter 2020 Tour, which was set to run in North American stadiums from May to July 2020, was called off due to COVID-19. The rockers had also already rescheduled some dates in 2019 as a result of lead Mick Jagger’s heart valve procedure. Despite the setbacks, the Stones managed to gross $178 million in 2019 across just 16 shows. Venturing beyond music, the band announced its entry into the retail business in August 2020. The Stones revealed their first

Marshmello

music, pop

Masked DJ, Christopher Comstock, opened the Las Vegas-based Kaos Dayclub and Nightclub in April 2019 as part of an expansive two-year residency deal worth $60 million.

However, overburdened by a number of similarly pricey deals, the club shut down after barely six months. The 28-year-old is a Stuffed Puffs stakeholder, an actual marshmallow brand launched by fellow 30 Under 30 alum Michael Tierney. In 2018, Marshmello was awarded “Best Electronic” at the MTV Europe Music Awards.

APRIL 2021

Entertainment

Grammys 2021: The Full Winners List Before announcing Billie Eilish as the 2021 Grammy winner for Record of the Year, Ringo Starr said, “If you’re making music in our world today, you’ve already won.”

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It was the perfect sentiment to sum up the 63rd Grammy Awards, which honored musicians in an unprecedented fashion during the primetime show, held live from an outdoor stage outside of the Staples Center arena in Los Angeles with Covid-19 precautions. Most of the winners were announced ahead of the show during the livestreamed Premiere Ceremony, leaving plenty of time for 20 performances from artists including Doja Cat, DaBaby, Taylor Swift, Roddy Ricch, Bruno Mars and more.

It was a night full of firsts—but women ruled. All four of the main categories were won by women: Billie Eilish for the aforementioned, Taylor Swift for Album of the Year, H.E.R. for Song of the Year and Megan Thee Stallion for Best New Artist.

Beyoncé became the most decorated female artist in Grammy history after winning Best R&B Performance for “Black Parade,” Best Rap Song and Best Rap Performance for her feature on the “Savage” remix, and Best Music Video for “Brown Skin Girl,” which brought her grand F O R B E S M I D D L E E A S T.C O M

total to 28 awards. In an acceptance speech, she praised her 9-year-old daughter Blue Ivy Carter, who became the second youngest Grammy winner ever for her writing credit on “Brown Skin Girl.”

The Carters were in stellar company as women claimed the night’s biggest moments: Megan Thee Stallion was the first female rapper to earn Best New Artist since Lauryn Hill’s win 22 years ago; Mickey Guyton became the first Black female country artist to perform at the Grammy Awards with her breathtaking rendition of “Black Like Me”; Taylor Swift became the first woman to win Album of the Year three times after Folklore took home the 2021 title.

Other than Megan Thee Stallion, first-time Grammy winners included One Direction alum Harry Styles for Best Pop Solo Performance, Kaytranada for Best Dance Recording and Best Dance/Electronic Album, and perhaps most noteworthy, Nas—after 14 nominations since 1997— for Best Rap Album.

APRIL 2021

BY: ABIGAIL FREEMAN; PHOTO BY KEVIN WINTER/GETTY IMAGES VIA AFP

Beyoncé and Megan Thee Stallion accept the Best Rap Performance award for 'Savage'

Record of The Year

“Everything I Wanted” by Billie Eilish

Album of the Year

Folklore by Taylor Swift

Song of the Year

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“I Can’t Breathe” by H.E.R.

Best New Artist

Megan Thee Stallion

Best Pop Solo Performance

“Watermelon Sugar” by Harry Styles

Best Pop Duo/Group Performance “Rain On Me” by Lady Gaga with Ariana Grande

Best Traditional Pop Vocal Album American Standard by James Taylor

Best Pop Vocal Album

Future Nostalgia by Dua Lipa

Best Dance Recording

“10%” by Kaytranada Featuring Kali Uchis

Best Dance/ Electronic Album

Bubba by Kaytranada

Best Contemporary Instrumental Album

KEVIN MAZUR/GETTY IMAGES

Live At The Royal Albert Hall by Snarky Puppy

H.E.R., winner of the Best R&B Song award for ‘Better Than I Imagined’ and the Song of the Year award for 'I Can't Breathe’.

Best Rock Song

“Stay High” by Brittany Howard

Best Rock Album

The New Abnormal by The Strokes

Best Alternative Music Album

Fetch The Bolt Cutters by Fiona Apple

Best R&B Performance

“Black Parade” by Beyoncé

Best Traditional R&B Performance “Anything For You” by Ledisi

Best R&B Song

Best R&B Album

Bigger Love by John Legend

Best Rap Performance

“Savage” by Megan Thee Stallion Featuring Beyoncé

Best Melodic Rap Performance

“Lockdown” by Anderson .Paak

Best Rap Song

“Savage” by Megan Thee Stallion Featuring Beyoncé

Best Rap Album

King’s Disease by Nas

Best Country Song

“Crowded Table” by The Highwomen

Best Country Album

Wildcard by Miranda Lambert

Best New Age Album

More Guitar Stories by Jim "Kimo" West

Best Improvised Jazz Solo “All Blues” by Chick Corea, track from: Trilogy 2

Best Jazz Vocal Album

Secrets Are The Best Stories by Kurt Elling Featuring Danilo Pérez

Best Jazz Instrumental Album

Best Rock Performance

Best Country Solo Performance

“Shameika” by Fiona Apple

“Better Than I Imagined”

by Robert Glasper Featuring H.E.R. & Meshell Ndegeocello

“When My Amy Prays” by Vince Gill

Trilogy 2 by Chick Corea, Christian McBride and Brian Blade

Best Metal Performance

Best Progressive R&B Album

Best Country Duo/ Group Performance

Best Large Jazz Ensemble Album

“Bum-Rush” by Body Count

F O R B E S M I D D L E E A S T.C O M

It Is What It Is by Thundercat

“10,000 Hours” by Dan + Shay & Justin Bieber

Data Lords by Maria Schneider Orchestra APRIL 2021

Best Latin Jazz Album

Four Questions by Arturo O'Farrill & The Afro Latin Jazz Orchestra

Best Gospel Performance/Song

“Movin' On” by Jonathan McReynolds & Mali Music

Best Contemporary Christian Music Performance/Song

“There Was Jesus” by Zach Williams & Dolly Parton

Best Gospel Album

Gospel According To PJ by PJ Morton

Best Contemporary Christian Music Album Jesus Is King by Kanye West

Best Roots Gospel Album

Celebrating Fisk! (The 150th Anniversary Album)

by Fisk Jubilee Singers

Best Latin Pop Or Urban Album YHLQMDLG by Bad Bunny

Best Latin Rock or Alternative Album

La Conquista del Espacio, Fito Paez

Best Regional Mexican Music Album (Including Tejano)

Un Canto por México, Vol. 1 by Natalia Lafourcade

Best Tropical Latin Album

Best American Roots Song

"I Remember Everything"

by Pat McLaughlin & John Prine

Best Americana Album

World on the Ground by Sarah Jarosz El Dorado by Marcus King

Best Bluegrass Album

Home by Billy Strings

Best Traditional Blues Album

40 by Grupo Niche

Rawer Than Raw by Bobby Rush

Best American Roots Performance

Best Contemporary Blues Album

"I Remember Everything"

by John Prine

F O R B E S M I D D L E E A S T.C O M

Have You Lost Your Mind Yet? by Fantastic Negrito

Best Folk Album

All the Good Times by Gillian Welch and David Rawlings

Best Regional Roots Music Album Atmosphere by New Orleans Nightcrawlers

Best Reggae Album

Got to Be Tough by Toots & The Maytals

Best Global Music Album

Twice as Tall by Burna Boy

Best Children's Music Album

All the Ladies by Joanie Leeds

Best Spoken Word Album (Includes Poetry, Audio Books & Storytelling) Blowout: Corrupted Democracy, Rogue State Russia, and the Richest, Most Destructive Industry on Earth by Rachel Maddow

Best Comedy Album

Black Mitzvah by Tiffany Haddish

Best Musical Theater Album Jagged Little Pill by Original Broadway Cast

Best Compilation Soundtrack For Visual Media Jojo Rabbit

APRIL 2021

KEVIN MAZUR/GETTY IMAGES

LEADERBOARD

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Kaytranada poses with the Grammy for Best Dance/Electronic Album and Best Dance Recording

PRO M OTI O N

Steve Dunbar, IoT Commercial Director for Microsoft Middle East & Africa, reveals how the regional giant plans to have a positive impact on global sustainability issues.

What are the main areas of sustainability that Microsoft is currently focusing on?

We are focusing on carbon, waste, water, and ecosystems, supported by five strategic pillars: operations, products and services, customers and partners, policy and employees.

We will explore and improve the way our products and facilities are sourced, manufactured, operated and managed at end of life, including our supply chain. The development of new technology and services will be driven by data, AI, and digital technology to power environmental sustainability, and to help our customers and partners around the world to reduce their own emissions.

As a company we intend to use our voice on climate-related public policy issues, supporting new public policy initiatives to accelerate opportunities. And of course we will not lose sight of the fact that our employees are our most important asset and resource in advancing innovation.

How is Microsoft working to reduce and ultimately remove its carbon footprint by 2030?

By 2030 we aim to be carbon negative and by 2050 we aim to remove from the atmosphere all the carbon dioxide we have emitted

since we were founded in 1975. It’s a bold ambition, but our strategy includes reducing our scope 1 and 2 emissions to near zero by the middle of this decade and reducing our scope 3 emissions by more than half by 2030, and removing more than we emit.

In what way are you showcasing how the Internet of Things and AI can connect the physical and virtual facets of an organization?

One example of how we are doing this is the 24/7 renewable energy matching solution with Swedish energy company, Vattenfall, which allows an hourly matched supply

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F O R thoughts B E S M I D Dexpressed L E E A S T.C O

of 100% renewable energy. Our IoT gives renewable energy suppliers real-time data on their renewable energy and energy storage assets, as well as their customers’ consumption.

What projects are you engaging with in the U.A.E. to drive a positive impact across the globe?

One exciting area we are focusing on is building management optimization. The opportunity to enable organizations to drive down their energy consumption through the use of intelligent building technologies is significant.

Buildings contribute to around 40% of energy consumption worldwide.

Organizations that have deployed smart building technology have reduced energy consumption by 25-30%. We will not only focus our efforts on mega buildings but also airports, hospitals, stadiums, malls, schools and government buildings.

How will your Planetary Computer help to protect and sustain the world’s biodiversity?

By delivering the Planetary Computer, which provides access to the world’s critical environmental datasets and AI and digital technology, we will build the tools that make it easier for scientists to ask global-scale questions of large datasets, then present those results in applications that support environmental monitoring, forecasting, planning and attribution. To date we have onboarded more than 10 petabytes of environmental science data.

www.microsoft.com APRIL 2021

23 LEADERBOARD

Taking Responsibility Using Technology

Best Score Soundtrack For Visual Media

Billie Eilish and FINNEAS, winners of Record of the Year for 'Everything I Wanted' and Best Song Written For Visual Media for "No Time To Die",

Joker by Hildur Guðnadóttir

Best Song Written For Visual Media

"No Time to Die" (from No Time to Die) by Billie Eilish

Best Instrumental Composition "Sputnik" by Maria Schneider

Best Arrangement, Instrumental or A Cappella "Donna Lee" by John Beasley

Best Arrangement, Instruments and Vocals "He Won't Hold You" by Jacob Collier Featuring Rapsody

Best Recording Package

Vols. 11 & 12 by Desert Sessions

Best Boxed Or Special Limited Edition Package

Ode to Joy, by Wilco

Best Album Notes

Dead Man's Pop, album notes by Bob Mehr

Best Historical Album

It's Such a Good Feeling: The Best of Mister Rogers

by Mister Rogers

Best Engineered Album, Non-Classical Hyperspace by Beck

Producer Of The Year, Non-Classical Andrew Watt

F O R B E S M I D D L E E A S T.C O M

Best Remixed Recording

"Roses (Imanbek Remix)"

by SAINt JHN

Best Immersive Audio Album (Judging postponed due to Covid-19.)

Best Engineered Album, Classical

Shostakovich: Symphony No. 13, "Baby Yar" by Riccardo Muti and Chicago Symphony Orchestra

Producer Of The Year, Classical David Frost

Best Orchestral Performance

Ives: Complete Symphonies by Los Angeles Philharmonic

Best Opera Recording

Gershwin: Porgy and

Bess by The Metropolitan Opera Orchestra; The Metropolitan Opera Chorus

Best Choral Performance

Danielpour: The Passion of Yeshua by James K. Bass, J'Nai Bridges, Timothy Fallon, Kenneth Overton, Hila Plitmann and Matthew Worth; Buffalo Philharmonic Orchestra; Buffalo Philharmonic Chorus and UCLA Chamber Singers

Best Chamber Music/Small Ensemble Performance Contemporary Voices, by Pacifica Quartet

Best Classical Instrumental Solo

"Theofanidis: Concerto for Viola and Chamber Orchestra" by Albany Symphony

Best Classical Solo Vocal Album

Smyth: The Prison by Experiential Chorus and Experiential Orchestra

Best Classical Compendium

Thomas, M.T.: From the Diary of Anne Frank & Meditations on Rilke by Isabel Leonard; Michael Tilson Thomas, conductor; Jack Vad, producer

Best Contemporary Classical Composition

Rouse: Symphony No. 5 by Christopher Rouse

Best Music Video

"Brown Skin Girl" by Beyoncé

Best Music Film

Linda Ronstadt: The Sound of My Voice by Linda Ronstadt APRIL 2021

KEVIN MAZUR/GETTY IMAGES

LEADERBOARD

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PRO M OTI O N

Investing Wisely Ayman Amin Sejiny, CEO of the Islamic Corporation for the Development of the Private Sector (ICD)—a multilateral development financial institution and member of the Islamic Development Bank (IsDB) Group—discusses how the organization is working to build networks and support the region’s recovery.

What are your key objectives for 2021 and in which economic sectors do you see the main opportunities for successful projects?

Our strategic goal is to be the catalyst for private sector development in all our member countries. In the next 10 years we plan to create and sustain 550,000 jobs in our member countries, reaching 95,000 MSMEs with financial and/or technical assistance, and providing access to Islamic finance for a million people. This year will be critical in terms of achieving and accelerating those accomplishments with our wide range of business offerings and investments.

You recently signed the R2 Covid Support Line of Finance with the IsDB to offset the negative impacts resulting from the pandemic. Can you tell us more about this initiative?

As an immediate response to the socio-economic crisis, the IsDB Group has established a Strategic Preparedness and Response Program. To date, the group has committed up to $2.3 billion in funding to be channeled to its member countries in support of efforts to address the adverse effects on their economies.

The ICD is offering its expertise in implementing line of finance facilities for supporting private sector businesses in member countries. This includes using savings, repurposing idle resources, optimizing projects, and introducing

deals for boosting national economic development and strengthening the capacity of the private sector to support the financing of SMEs.

resource mobilization possibilities, allowing for new concepts and dynamic ways of collaboration with member countries. The IsDB Group will establish new partnerships with a network of developers who are keen to contribute to impact investments and sustainable growth in the IsDB Group’s member countries.

The Fintech revolution is transforming the fabric of nations’ economies across the world. What role do you see ICD having in this new financial ecosystem?

The ICD has a vision to become a digital enabler for financial institutions in its member countries.

This is achieved by adopting several Fintech initiatives. One of these initiatives is the Bridge Platform, which connects a global network of financial institutions. By creating an online platform that brings together financial institutions in its member countries, ICD aims to use Fintech technologies to accelerate knowledge sharing, market assessments, and specific

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F O R thoughts B E S M I D Dexpressed L E E A S T.C O

What is the number one priority for the global financial community today?

The number one priority should be to address the data gaps and reporting challenges of our investments.

Too often, after the investment is made, it dawns on the financial community that follow-up reporting on the contribution of this investment towards the UN’s 2030 Sustainable Development Goals will be challenging, absent of a coherent and comprehensive monitoring process.

Investments into concrete data-reporting systems, coupled with continued partnerships across both regional and international boundaries will be critical in enhancing the development effectiveness of every dollar invested. This will ensure that nations worldwide are able to not only garner investment dollars into much needed development projects, but also ensure that they have the ability to capture the results and data from these investments.

www.icd-ps.org APRIL 2021

25

Entertainment

The recorded music revenue in the Middle East and Africa (MEA) region witnessed an 8.4% surge last year, according to the annual report by the International Federation of the Phonographic Industry (IFPI), largely driven by streaming.

Global Recorded Music Revenues Streaming 62.1%

$13.4 Billion Physical 19.5%

$4.2 Billion

Grew 7.4%

Performance Rights 10.6%

$2.3 Billion

In 2020 To Hit

$21.6B

Download and Other Digital 5.8%

$1.2 Billion

Synchronization 2.0%

$400 Million

7.4%

3.5% Europe

US & Canada

8.4%

15.9%

9.5% Asia

Middle East & Africa

3.3%

Latin America

Australasia

Growth by Region in 2020 F O R B E S M I D D L E E A S T.C O M

BY SAMAR KHOURI

LEADERBOARD

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Recorded Music Revenues In MEA Surged By 8.4% In 2020

APRIL 2021

Key findings

Most popular artists last year, K-Pop boy group BTS

• IFPI’s Global Music Report said that the increase in recorded music revenue in the region was primarily driven by MENA, where revenues rose by 37.8%.

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• Streaming dominated in MEA, with a 36.4% increase in revenues amid the COVID-19 pandemic.

• MENA and South Africa combined accounted for 86.7% of the region’s revenues.

• For the sixth consecutive year, Latin America dominated as the fastest-growing region globally, with revenues increasing by 15.9%, while Asia posted 9.5% growth in 2020.

• Overall, the global recorded music business increased by 7.4%, with total revenues touching $21.6 billion.

This was due to continued increase in paid subscription streaming revenues— which increased by 18.5% and offset a drop in physical and performance rights revenues.

Key quote “Fuelled by record companies’ ongoing investment in artists and their careers, along with innovative efforts to help artists bring music to fans in new ways, recorded music revenues grew globally for the sixth consecutive year, driven by subscription streaming,” IFPI CEO Frances Moore, said in a statement.

“As record companies continue to expand their geographical footprint and cultural reach, music has become more globally connected today, than ever before and this growth has spread across all regions around the globe.”

PHOTO BY THEO WARGO/GETTY IMAGES

Other interesting findings • Last year's most popular artists were K-Pop boy group BTS, followed by Taylor Swift, Drake and The Weeknd. BTS’ fourth studio album Map Of The Soul: 7 topped the IFPI Global Album Sales Chart and the newly-launched Global F O R B E S M I D D L E E A S T.C O M

Album All Format Chart.

• The U.S. continued to dominate the music market in 2020. The Netherlands made its debut appearance, landing 10th on the list.

• At the end of 2020, there were 443 million users of paid subscription accounts.

• Streaming, which accounted for 62.1% of global recorded music revenues, was the dominant format.

Total streaming, including both paid subscription and advertisingsupported, increased by 19.9%, reaching $13.4 billion of total global recorded music revenues.

• Revenues from performance rights, the use of music in advertising, film, games and TV, permanent downloads and CDs declined, largely as a result of the COVID-19 pandemic.

The region’s music market Within the region, the Arabic music industry has witnessed mergers and acquisitions since the start of 2021.

Warner Music Group confirmed mid-February that it will invest in

the region’s record label Rotana Music, expanding the American music company’s presence in the growing MENA market while extending the reach of Rotana’s artists on a global scale. The deal reportedly valued HRH Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud’s Rotana Group-owned label at approximately $200 million.

In January, the U.A.E.-based asset management and investment banking platform SHUAA Capital announced that its managed funds platform has picked up a stake in streaming service Anghami. During the first week of March, Anghami was officially announced as the first Arab tech company to list on the Nasdaq stock exchange after agreeing to a $40 million merger with a special purpose acquisition company (SPAC) Vistas Media Acquisition Company Inc. And Saudi Arabia’s lifestyle and entertainment brand MDLBeast announced in February that it was gearing up to launch its own record label, MDLBeast Records, and its first album, Soundstorm Volume 1.

APRIL 2021

Entertainment

2021’s Biggest Music Industry Deals, So Far In May 2020, Goldman Sachs projected that the global music industry’s revenue would increase from $62 billion in 2017 to $131 billion in 2030.

With music increasingly identified as a lucrative investment opportunity, here are the companies that have already bet big on the sector this year with multi-million-dollar deals.

Warner Music Group and Rotana Music DEAL VALUE: Unknown

Entertainment giant Warner Music Group Corp (WMG) announced on February 16, 2021, that it had invested an undisclosed sum and stake in HRH Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud’s Rotana Group-owned label. Established in 1993, Saudi-headquartered Rotana Music is the largest record label in the Arab region. As per a Bloomberg report, the deal valued Rotana Music at approximately $200 million.

WMG confirmed its label services division ADA Worldwide will handle Rotana releases’ distribution beyond the MENA region via YouTube. The American conglomerate first forayed into MENA in 2018 with Warner Music Middle East.

Anghami and Vista Media Acquisition Company MERGER VALUE: $40 million

On March 3, 2021, music streaming platform Anghami announced its merger with a special purpose acquisition company (SPAC), Vistas Media Acquisition Company F O R B E S M I D D L E E A S T.C O M

Inc. Valued at $40 million, the landmark deal is expected to close in the second quarter of 2021. It makes Anghami the first Arab tech firm to list on the Nasdaq stock exchange. The merger includes a combined commitment from U.A.E.-based asset management and investment banking firm Shuaa Capital ($30 million) and Vista Media Capital ($10 million) in a private investment in public equity (PIPE) financing. Launched in 2012, Anghami was founded

by Lebanese entrepreneurs Eddy Maroun and Elie Habib. F Jacob Cherian, CEO of Vistas Media, is expected to join the merged entity as co-CEO for one year, alongside Maroun.

Sony Music and Kobalt Music Group DEAL VALUE: $430 million

Japan’s Sony Music Entertainment confirmed on February 1, 2021, its agreement to purchase 100% of Kobalt Music Group’s recordedmusic operations, including AWAL and Kobalt Neighboring Rights.

The acquisition is valued at $430 million, subject to closing terms and conditions. With the transaction,

AWAL and Neighboring Rights will make up a new division with Sony’s suite of independent artist and label service offerings. AWAL CEO Lonny Olinick will retain his role. Kobalt was founded in 2000 by Williard Ahdritz to develop freedom and transparency for professionals in the music industry.

Square and Tidal DEAL VALUE: $297 million

Billionaire rap mogul Shawn “Jay-Z” Carter’s music streaming service Tidal has sold a majority stake to Jack Dorsey-controlled payments firm Square. On March 4, 2021, Square announced that it will pay $297 million in stock and cash for a “significant” majority stake in Tidal, which will continue to run independently within Square.

Jay-Z will retain some ownership of the entertainment platform and is projected to join Square’s board. He bought Tidal for $56 million in 2015 with plans to build the first artistowned streaming offering. However, the company has struggled against market leaders like Spotify, Apple, and Amazon. Twitter CEO Dorsey said he’s buying Tidal to find new ways for artists to make money.

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LEADERS’ INSIGHTS

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Egypt’s Economy Sees Good And Bad Results In The Wake Of 2020

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s has been the case for many countries, the impact of the COVID-19 pandemic on the Arab Republic of Egypt has been significant. Egypt’s primary sources of foreign currency—specifically tourism—have faced pressure from the many disruptions caused by the pandemic. However, the adverse effects have been made less acute than projected due to swift fiscal and monetary relief policies, as well as structural reforms introduced in 2016 that have helped the North African country weather the storm.

Growth despite challenges

The IMF, which approved a $5.2 F O R B E S M I D D L E E A S T.C O M

billion standby loan agreement for Egypt in June 2020, said in December that the country is expected to be one of just a few to have grown in 2020, expanding approximately 1.5%. It added that the economy showed “early signs of recovery” after a milder than anticipated contraction, pushing up Egypt’s real GDP outlook in the fiscal year 2020/21 to 2.8% from its 2% forecast in June. Egypt’s cabinet announced in March 2021 that the economy grew at 1.3% during the first half of the 2020/21 fiscal year, declining from 5.6% recorded during the same period the previous year. The third quarter is expected to grow 2.8%, and the fourth quarter 5.3%.

Also in March, credit ratings agency Fitch affirmed Egypt’s long-term foreign-currency issuer default rating at “B+” with a stable outlook. The outlook was supported

by Egypt’s track record of fiscal and economic reforms, with the rating weighed down by fiscal deficit and weak governance. Meanwhile, ratings agency Moody’s kept Egypt’s credit rating at “B2” with a stable outlook, supported by “A3” economic strength along with its commitment to implementing reforms.

In an effort to alleviate the challenges caused by the global lockdowns, the Egyptian government announced stimulus packages worth $6.1 billion, which included APRIL 2021

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Swift fiscal action and structural reform is helping Egypt in its recovery from the recent global challenges brought on by COVID-19.

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Driving Digital Change Telecom Egypt’s digital transformation strategy has been in motion for some time, but the pace has accelerated recently, and new projects are underway.

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elecom Egypt is the country’s first integrated telecom operator, and one of the largest international submarine cable providers in the region. Given Egypt’s location at the heart of the world, Telecom Egypt provides the shortest and most reliable connection between the African, Asian, and European markets to its international customers. 13 submarine cables currently land in Egypt, including the company’s fully owned TE North and MENA cables. They are served by 10 submarine cable landing stations in Egypt, which are connected over 10 terrestrial crossing routes distributed across the Red and Mediterranean seas, in addition to a landing station in Italy. The 2Africa and PEACE cable systems are expected to cross Egypt soon, and will also be served by Telecom Egypt’s landing

stations. The 2Africa cable, which Telecom Egypt is building in collaboration with key technology players, will be the first of its kind to circumference the African continent.

The company has successfully completed the end-to-end testing and delivery of 2Africa’s Egyptian terrestrial crossing that links the Red and Mediterranean Seas ahead of schedule, making it the first operating segment of the project. It has also invested in a new cable system that will span the Western coast of Africa.

On a regional level, Telecom Egypt extended its reach to its neighboring countries, Jordan, Sudan, and Libya.

To offer the international community the best quality and service security, Telecom Egypt established a mesh solution that crosses Egypt over terrestrial routes, reaching Europe and Singapore.

This solution ensures a network availability of up to 99.9%, and is very robust as it can reroute traffic, as needed, in less than 50 milliseconds. Such a solution was recently acquired by Google, where Telecom Egypt just finalized a deal to offer the technology giant a first of its kind, layered three meshed solution on multiple redundant crossing routes in Egypt.

In addition to being a favorable international traffic route, Telecom Egypt is developing its capabilities with a vision to become a regional hub. The company currently offers

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cutting-edge IT solutions to its local and international customers through six data center facilities, and is currently on the verge of completing its seventh. Expected to be commissioned in 2021, it is located at the heart of Egypt’s business center, the Smart Village, and will have access to all the global submarine cable systems that land in Egypt. It will also be the first in the country with the Uptime Institute’s certifications in the design, constructed facility, and operational sustainability categories, and will host the world’s largest internet exchanges to provide an open access platform for all stakeholders in MENA. Telecom Egypt is currently working on establishing new subsea landing stations and crossing routes, investing in new subsea systems and solutions, and carrying out extensive network revamps. Over the years, the company has been able to extend its reach across continents, and keep up with the growing demand for international data services and hosting facilities.

It’s strong infrastructure is at the base of its digital strategy pyramid, with the peak being the company’s ascension to the application layer.

With this, Telecom Egypt will be able to contribute to forming a comprehensive digital ecosystem in Egypt and the rest of the region.

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an increase in pensions by 14%, a consumer spending initiative worth $637 million, and an allocation of $318 million for the healthcare sector. The tourism sector alone was promised $3.2 billion, including a government guarantee of $191 million on lowinterest loans by the central bank for soft loans for the tourism industry.

The central bank also approved a $6.4 billion pledge to cover lending at preferential rates for manufacturing, agriculture, and contracting loans, and it launched a stock-purchase program worth $1.3 billion.

Egypt’s poverty rate decreased for the first time in 20 years in the fiscal year 2019/20, according to Prime Minister Mostafa Madbouly, citing CAPMAS. The proportion of the population living below the poverty line has reportedly fallen to 29.7% over the past two fiscal years from 32.5%. Annual headline inflation is also slowing, reaching its lowest level since September 2020 to reach 4.3% in January 2021. In February 2021, headline inflation rose slightly to 4.4%.

Egypt has also remained the top destination for foreign direct investment (FDI) in Africa, despite FDI inflows falling 39% to $5.5 billion in 2020, according to UNCTAD’s most recent Investment Trends Monitor report.

Meanwhile, the effects of the pandemic on Suez Canal receipts and remittances were less harsh than expected. According to the Suez Canal Authority, revenues only fell 3% in 2020 to reach $5.6 billion, compared to $5.8 billion in 2019.

Annual net tonnage reached more than 1.1 billion from 18,829 ships, making it the second-highest net tonnage figure in the canal’s history.

Worker remittances, one of the most significant sources of foreign currency in Egypt, increased to $27.8 billion in the fiscal year 2019/20 from $25.1 billion the previous year.

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Inevitable damage

According to Central Bank figures, foreign reserves rose to $40.2 billion in February 2021, increasing by $100 million from January. An acute rise of more than $840 million came in December 2020.

Egypt, however, could not avoid the devastating consequences of global lockdowns and grounded airplane fleets, which was devastating for its tourism sector— one of the country’s primary sources of foreign currency. According to the Ministry of Tourism and Antiquities, the number of tourists to Egypt fell to 3.6 million in 2020, down from the 13 million international tourist arrivals reported in 2019 in the World Tourism Barometer report by the UNWTO. The ministry also reported that average tourism revenues stood at $4 billion during the year. According to the World Bank, international tourism receipts stood at $14.3 billion in 2019.

Last year’s hotel occupancy rate forecasts in Cairo, Sharm El Sheikh, Hurghada, and Alexandria were at 27%, 23%, 24%, and 45%, respectively, according to Colliers International’s latest MENA report.

However, Colliers expects to see a rebound in 2021, with forecasts at 43%, 43%, 48%, and 62%, respectively.

In the second quarter of 2020, Egypt’s unemployment rate reached a high of 9.6% due to the pandemic, compared to 7.5% reported during the same period in 2019. It reached 7.2% in the fourth quarter of last year, according to CAPMAS. Egypt’s non-oil private sector activity is contracting but at a slower pace. According to IHS Markit purchasing managers’ index, Egypt’s Purchasing Managers’ Index posted 49.3 in February 2021, still below the 50 mark that differentiates expansion from contraction. The figure stood at 48.7 in January, in comparison. However, 40% of

businesses said in January that they expect expansion throughout 2021.

Continuing signs of positivity

Egypt has made significant achievements recently regarding venture capital. According to a Partech report, the country is the top destination for venture capital in Africa in terms of the total number of equity deals, capturing 24% of the African market. Startups in Egypt made 86 deals, an increase of over 83% year-on-year, worth $269 million.

The Egyptian government has also made some significant policy decisions. The nation’s universal healthcare program will be implemented nationwide within 10 years instead of the previously announced 15, with the first phase covering Luxor, Aswan, Ismailia, Suez, and South Sinai by 2021.

Moreover, the government gave priority to protecting the environment. According to the Ministry of Planning and Economic Development, 100% of the government’s investment projects will go green within three years.

Egypt had also led the issuance of the MENA region’s first sovereign green bond, offering $750 million for a five-year maturity. The issuance was nearly five times oversubscribed, which reflected strong investor confidence. The country will use the investment to finance eco-friendly projects.

It also introduced a green car incentive program, which aims to swap 250,000 cars that are more than 20 years old with cars that are powered by natural gas and petrol in the first phase. More incentives include loans on a 10-year term with a 3% declining interest rate.

Moreover, owners of private vehicles can get up to 10% discount on a new vehicle, while taxi and microbus owners will be able to get 20% and 25%, with specific ceilings.

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PRO M OTI O N

Building A Community Osama Bishai, CEO of Orascom Construction, reveals how the company has supported the community in Egypt over the last year, as well as continuing to grow its portfolio.

What are the key challenges facing the Egyptian construction industry in 2021 and how are you positioning Orascom Construction to maintain and grow your market share?

The main challenge is the speed of recovery from last year’s nationwide slowdown. We have directed our efforts to tackling the negative impact. We are mainly focusing on maintaining our project pipeline and backlog, as well as project controls, cost optimization and cash flow.

You recently announced, along with Siemens Mobility and Arab Contractors, the signing of an MOU with the National Authority for Tunnels to design, install, and commission Egypt’s first highspeed rail system. How significant is this project to your portfolio?

This project will be added to Orascom Construction’s vast portfolio of high-profile transportation projects, including The Cairo Monorail—the world’s longest monorail system, light rail, railway and metros. We are proud to be a key player in the deep-rooted transformation of the transportation landscape in Egypt, impacting and enhancing the overall quality of life.

COVID-19 has had a dramatic impact on businesses in 2020.

How has Orascom Construction weathered the storm and how optimistic are you that 2021 will see brighter days?

The safety and well-being of our people and communities have always been our top priority, and we took several immediate steps to ensure precautionary measures at our sites and offices in accordance with the highest standards.

A taskforce was immediately established to assess the impact of and create a proactive plan to tackle COVID-19. This task force continuously evaluates developments and adapts to them, with health and safety as the top priority. The impact related to COVID-19 was minimal in Q1 2020 and is expected to be reflected in Q2 2020 results.

The environment challenges and the impact of COVID-19 has kept us resilient, vigilant and adaptive to changes. This, no doubt, gives us hope for a bright future.

Orascom Construction plays an important social role in supporting Egypt’s citizens. How do you,

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as CEO, balance the demands of shareholders with the local community?

We believe that shareholders’ interest and community support should go hand in hand. While shareholder’s interest and success is our north star, guiding us towards growth and prosperity, we know that success is also tied to our people and to the communities we impact.

Our strong record in corporate citizenship can be seen in our ongoing role in maintaining a sustainable community through recent efforts to combat COVID-19, as well as our solid and established engagement in developing social healthcare in rural areas throughout Egypt where basic healthcare needs are unmet. Meanwhile, our competitive edge in Egypt’s market alongside our business development efforts have allowed us to secure a sizable inflow of high-quality projects and maintain a healthy project pipeline.

www.orascom.com

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PRO M OTI O N

Cutting Edge Legal 34

Karim A. Youssef, CEO of Youssef & Partners and global arbitration figure, explains the unique dynamics and working practices that make the law firm stand out from its competitors.

What does Youssef & Partners bring to the table as a regional leader in the international dispute resolution market?

As regional leaders, we focus on high-profile disputes and advise some of the world’s leading corporations across the MENA region and four continents. This regional influence that we exercise translates into a single focus point: client results. We assist corporations and high-net-worth individuals in strategically resolving issues and managing disputes.

We think of our services as cosmopolitan bridge-building: state-of-the-art lawyering and counsel services at global standards, combined with the unique knowledge of how business is done in Egypt and the region.

The firm focuses on what matters most to clients: we win, and our reputation in the local and international markets is that we do. This mix of global outlook, industry expertise, and strategic advice directly impacts client financials and profitability. Think of potentially hundreds of millions of dollars moving hands in an arbitration. A case’s outcome can affect a business’s profitability, growth plans, workforce, and even economic viability.

Since the firm’s inception, you have been doing things differently.

How have you and Youssef & Partners been disrupting the legal field in MENA?

For one thing, we’re very exclusive.

We focus on the top layer of complex disputes and transactions because this is where our machinery and modus operandi works best and maximizes results. But the other more profound point is that many

TheF O thoughts in this R B E S M I expressed D D L E E A S T.C O M advertorial are those of the client.

of our core clients are similar to us in many ways, and we understand not only their business needs and industry specificities but also their spirit, DNA, or what they are made of. This, in my experience, creates incredible synergies and, combined

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PRO M OTI O N

with how we do it, takes legal services to a whole new level, also because we have an unmatched reputation and ratio of success.

Our team is also young and dynamic and very inclusive (we call it the Y&P family). We pride ourselves on entirely revolutionary diversity policies and scores. We have the highest ratio of women lawyers in Egypt, the region, and globally, with a current percentage of 73.3% of women, entirely unheard of in any firm in the region. This goes beyond implementing diversity or empowering youth. It’s like doing Formula-1 racing with an electric

courts, or, and very often, through onshore, DIFC, or ADGM arbitration.

The other aspect is that since the pandemic, arbitration has proven it’s an essential part of international business. It has adapted wonderfully to the new normal and allowed issue resolution in international business to continue unhindered, virtually or in a mixed fashion, depending on where you are.

Also, from what we saw, in 2020 arbitration has played a significant role in settling quickly many of the force majeure and disruption disputes that exploded amid the pandemic’s challenging conditions.

“We think of our services as cosmopolitan bridgebuilding: state-of-the-art lawyering and counsel services at global standards, combined with the unique knowledge of how business is done in Egypt and the region.” car: you need to change how you’re driving. It requires fundamental changes in the structure and reconceiving internal operations.

So, you end up evolving into a different creature.

Why has arbitration gained so much traction in the region in recent years? What are the critical issues that clients should consider when deciding on arbitration (v. litigation)?

There are two aspects to this.

Generally, clients should consider (and most of them know) that international arbitration has become the rule in international business. Nine out of 10 contracts contain arbitration clauses, especially in cases of diverse nationalities or cross-border transactions. This is why, for example, critical aspects of doing business in the U.A.E. are done through onshore, DIFC, or ADGM

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Arbitral tribunals convened in an emergency or fast-track fashion were able to deal with issues such as dealerships not receiving cars in time from the manufacturer, closure of airline routes, delays in constructing national or megaprojects, requests to renegotiate pricing and time sensitive clauses in long term contracts, or the application of force majeure and “press-pause” clauses in the context of the pandemic, etc, and allowed business to be compensated suitably, or to adjust companies behavior or projects to the new situation.

The Egyptian economy has undergone a massive transformation in recent years.

What are the critical changes in the investment climate, and what do foreign investors need to know?

In the aftermath of the Arab Spring, there was a major influx of disputes

and foreign investor arbitrations in Egypt. Despite that, the Egyptian government has aced the Arab Spring test and protected the investment climate and FDI. I think this was a very challenging task and required sophisticated decision-making and detachment from difficult situations. The government maintained FDI levels and even increased them by adequately managing the arbitration cases. It settled many of the major disputes and did not exit any of the vital international treaties for investor protection, something other countries such as Venezuela and Ecuador, were tempted to do or did. I gave a speech on this issue a couple of years ago, and the topic was deemed so important that the address won a Global Arbitration Review (GAR) award, which is like the Golden Globes of arbitration.

What are your plans and objectives this year for the growth of Youssef & Partners?

Business in the next few years will look completely different. The legal field is no exception. The field itself remains, for the most part, a traditional one. Only those quick to adapt and recognize the changing business landscape will likely emerge successful in the next few years. This is the principle the firm lives by—being a modern player in today’s business world, being cutting edge, and in tune with our clients and with global developments—these are principles that will continue guiding the firm’s growth today and in the future.

www.youssef.law

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UPTEMPO Music streaming app Deezer’s CEO for MENA and Turkey, Tarek Mounir, is eying market leadership in the Middle East with exclusive local backing. Still, competition continues to increase from both local and international players.

BY SAMUEL WENDEL F O R B E S M I D D L E E A S T.C O M

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IMAGE FROM DEEZER

Tarek Mounir, Deezer’s CEO for MENA and Turkey

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Global music streaming service Deezer began 2021 with some attentiongrabbing moves to attract users in MENA, from Orange Egypt ads featuring actors Karim Abdel Aziz and Nelly Karim using the app to launching a spate of new original podcasts. But it was competitor Anghami that grabbed headlines in March by announcing a merger with a blank-check SPAC that will see it become the first regional tech company to launch an IPO on Nasdaq. That move raises the stakes for streaming players in MENA, but perhaps most of all for Deezer, which has bet big on the region.

The Paris-headquartered firm has high hopes in MENA, thanks to its partnership with powerhouse local label Rotana, which grants Deezer exclusive long-term digital distribution rights in the region. That came into play in October 2018, weeks before global giant Spotify launched regionally and shortly after Saudi Arabian tycoon Prince Alwaleed Bin Talal completed a $266.7 million investment into Deezer through Kingdom Holding Company and Rotana Group.

That helped push Deezer’s market valuation past $1 billion while positioning it to potentially command a starring role in the region. “We are looking for market leadership,” says Tarek Mounir, Deezer’s CEO for MENA and Turkey. “We did not come with the intention of being a number four.”

Today, Deezer is the only place local listeners can stream many popular hits released under the Rotana label from some of the Middle East’s biggest artists, from Elissa and Amr Diab to the recent release of Emirati pop star Ahlam’s new album.

That’s a unique edge powering Deezer’s ambitions in MENA, where it competes with Spotify, Apple Music and prominent homegrown player Anghami, which previously had exclusive rights to Rotana in Saudi Arabia, the U.A.E., and Lebanon.

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However, targeting a market like MENA is exactly what Deezer has become known for since launching in 2007. Rather than focus on countries where Spotify or Apple Music already dominate—such as the U.S.—it has sought opportunities in emerging markets, such as Latin America.

A big focus has been on championing local music genres and artists. “Whenever Deezer enters a market, globally that is, we always try to take the local hero approach, whether there is a local incumbent or not,” says Mounir.

That said, the presence of a strong local player in Anghami clearly complicates Deezer’s approach. Founded in 2012 in Beirut, Anghami isn’t backing down as global rivals encroach on its turf. Even before announcing the IPO, Anghami had raised fresh capital in early 2021 and relocated to Abu Dhabi. Simultaneously, one cannot forget Spotify, which has an Arab hub on its app and has pushed local Arab artists globally, including splashing Amr Diab on a Times Square billboard in New York in 2019.

“No matter how international players try to position themselves as local, Anghami’s local DNA remains undisputed from a brand, user base, features, content, recommendations, artists, workforce, telcos, and advertisers point of view,” says Eddy Maroun, Anghami’s co-founder and CEO, who says his firm is still the largest in MENA in terms of revenues and subscribers more than two years since major competitors arrived. Overall, Anghami reports that it has over 70 million users and hosts around a billion streams monthly.

Meanwhile, it’s harder to gauge Deezer’s progress in MENA. Mounir says they saw tremendous growth in 2020—a year where COVID-19 lockdowns accelerated online consumption overall—but he declines to share regional user numbers. “It’s a scale game,” says Mounir. “You’re talking about countries that have millions of users, and the game is never to have a small share of the pie.” Globally, Deezer reports 16 million active users across more than 180 countries (compared to 345 million users

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over 250 shows from regional creators, global podcasters, and DJs. Deezer followed by launching podcasts regionally in April 2020. It’s first original series, called Saudi Today, went live in September, hosted by social media personality Amy Roko and focuses on Saudi trailblazers in art, culture, and entertainment.

The series crushed every expectation Deezer had for podcasts, says Mounir. Last year also saw it localize its Deezer Sessions with regional artists. That has since led to A3det Mazika, a new partnership with Egyptian radio station Nogoum FM that is seeing hour-long Deezer Sessions aired live.

Spearheading Deezer’s efforts here is Mark Abou Jaoude, its regional head of content, artist marketing, and label relations—who joined the company in 2020 from Anghami. Abou Jaoude sees plenty of opportunity around podcasts, as the medium is still just emerging regionally. “Our mission is to continue creating localized podcasts for each market, partnering up with the region’s leading and innovating voices,” says Abou Jaoude.

Deezer’s local content push has continued in 2021, leading to several new original podcasts. Some examples include true-crime series Al Jareema, a comedy podcast with Saudi Youtuber Hatoon Kadi, and Saudi Today’s second season. More broadly, Deezer is exploring producing music with regional labels, including Rotana, creating content that Deezer will initially release exclusively before allowing wider distribution. The first project there was “La Relève Maghreb,” a playlist launched in early 2021 featuring emerging Moroccan rappers.

Meanwhile, Anghami continues to make noise too. In February 2021, Elissa launched an exclusive podcast on Anghami that explores her life and career—notable considering she’s a Rotana artist.

Simultaneously, February 2021 produced another intriguing development, when Warner Music Group invested in Rotana Music for an undisclosed amount, expanding its presence in MENA. Warner’s majority owner is billionaire Len Blavatnik’s Access Industries—which also controls Deezer. The deal

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for Spotify, which grew its reach to over 170 countries in early 2021).

That said, the streaming opportunity in MENA is still unfolding. One issue is that YouTube is quite popular regionally. “This is really the service that the artists and the listeners are using the most,” says Pierre France, a researcher with Orient Institut Beirut who studies the region’s music industry.

He sees high expectations for streaming here, but plenty of industry obstacles too, including a shortage of young artists.

Numbers are scarce, but it’s safe to say streaming is immature compared to markets like the U.S., which is also only skimming the surface of possibilities.

Globally, revenues from music streaming are expected to reach $33.4 billion by 2025, a roughly 44% rise over 2021 projections, according to market research firm Statista, but the U.S. still generates the most revenues and worldwide user penetration remains under 10%.

Yet, the potential in MENA is clear, thanks to a young population and high mobile penetration across a region spanning more than 450 million people.

“Similar to other markets, we believe MENA is a hyper-growth market,” says Mounir. “We believe the commercial opportunity is huge.”

Against that backdrop, Deezer’s Rotana deal remains important. The exclusivity has been key in major markets, says Mounir, with a noticeable impact on numbers whenever there’s a new release, while Rotana’s back catalog continues to prove popular.

“This is a partnership that is probably unique to the region but that greatly benefits us and offers our consumers a great added value,” says Mounir.

Still, the deal hasn’t come without drama: Rotana star Elissa publicly voiced displeasure when her music was removed from Anghami in 2018. Simultaneously, some of the deal’s impact will hinge on the label’s ability to sign new talent from MENA’s vibrant music scene.

Increasingly, competition is developing around the production of new local content. In March 2019, Anghami introduced podcasts on its platform, adding

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MONEY TALKS As streaming platforms increasingly turn to podcasts to attract new users, podcasters are raking in the revenue. Here were the top-earning podcasters of 2019 according to Forbes.

The Joe Rogan Experience

Podcaster: Joe Rogan

Earnings: $30 million My Favorite Murder Podcaster: Karen Kilgariff and Georgia Hardstack

Earnings: $15 million The Dave Ramsey Show Podcaster: Dave Ramsey

Earnings: $10 million Armchair Expert Podcaster: Dax Shepherd

Earnings: $9 million The Bill Simmons Podcast Podcaster: Bill Simmons

Earnings: $7 million

tasked him with growing its B2B and advertising business in the region.

Crucially, that meant striking deals with telecoms, an area where he had significant experience.

Telecom partnerships are important for attracting paying subscribers and addressing payment barriers in a region where online payments are low, as streaming services can be bundled with mobile plans. Under Mounir, Deezer inked several deals in 2020, including stc in Saudi, Orange in Egypt and Morocco, and Turkey’s Turkcell.

“These were huge milestones for us in terms of getting into the pipeline of consumers,” says Mounir. The company is still working to sign a flagship carrier in the U.A.E., but those deals helped establish the foundation Deezer needed to commercially monetize the business.

Still, getting users has nuances in different countries. Many markets react differently to promotional offers, according to Mounir. Some countries respond to free premium trials while other markets barely budge, requiring outreach tailored to local culture and language. That’s also where investing in local content becomes important.

The sheer base and volumes of consumption Deezer sees for local music and podcasts made it illogical not to venture into production, says Mounir. It’s also adding another intriguing layer to MENA’s streaming landscape, as competition intensifies.

Even as Deezer hopes to capture market share and Anghami makes moves to expand, Mounir still sees enough opportunity for all streaming services to thrive. “Everybody is doing a great job,” he says.

“But we have definitely our own differentiators and the exclusivity of the Rotana catalog, which is huge.”

With millions of listeners in MENA yet to subscribe, Deezer and its rivals still have plenty of work ahead of them. Stay tuned.

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doesn’t impact local streaming, as Warner has licensing agreements with other services, but points to continued regional interest from influential players linked to Deezer.

Looking back, Deezer’s partnership with Rotana helped kick streaming competition into high gear in the region. Before 2018, Deezer’s service was available in MENA for several years, but it didn’t support Arabic or have local operations. Simultaneously, most hype had focused on Spotify, with rumors swirling about its possible expansion, but Deezer stole some of that thunder.

In 2018, Deezer tailored its app for Arabic speakers, including playlists and content curated for local listeners. Deezer also offered a free trial period for its premium tier (it should be noted: Deezer, Spotify, and Anghami all offer free tiers supported by ads while charging a monthly fee for premium versions. Apple is subscription-only).

Deezer has since spent most of the last two years focused on establishing the brand presence across MENA, from rolling out marketing campaigns to opening a regional HQ in Dubai in early 2019. That included hiring Mounir, an entertainment industry vet, to further its regional ambitions.

He joined in April 2019 from broadcast media company Turner, where he had spent 10 years working across MENA, Turkey, Greece, and Cyprus. Before that, he produced commercials and animation and served as a TV presenter for shows including Survivor Middle East. “I’ve always been in the entertainment and media industry,” he says. “It attracted me from a very young age. I always knew this is what I wanted to do.”

When he was pitched to join Deezer, he was intrigued by the prospect of running a streaming platform. He wanted to watch subscriber numbers rise and use live data to drive decisions. The company

PRO M OTI O N

loud computing is the cornerstone to successful digital transformation and remains one of the most disruptive technologies of our time.

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onto the bandwagon, but few have the expertise and insights to deliver the right multi-cloud experience.

To thrive, organizations must leverage cloud solutions that provide not only visibility, but also actionable insights from which to learn and improve. Based on conversations with our customers and prospects, we have found that only very few truly have what we can class as a mature, holistic cloud strategy. In fact, it is estimated that overall, only 11% of companies have implemented an optimized cloud strategy, signifying clear room for improvement across the board.

With more than 30 years of experience, Cisco has supported customers through every major stage of their digital transformation.

We know how to navigate complex solutions and we have some of the best expertise in the industry.

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This is why Cisco delivers a holistic approach, welcoming the integration of third party solutions into our offerings for a more unified approach. Cisco brings together smart networking, security, analytics and management, while delivering a comprehensive portfolio of integrated solutions and services to simplify how users connect, protect, and consume in a multicloud world.

Whether a business already has experience with cloud solutions,

The inOthis F Othoughts R B E S M I Dexpressed D L E E A S T.C M advertorial are those of the client.

or is in the beginning phase of cloud adoption, Cisco is uniquely positioned to offer an end-to-end solution by managing applications, overseeing infrastructure requirements, and ensuring every aspect of the network is protected via secure cloud deployment.

A cloud provider must help transform network architecture by evaluating the best forms of integration and having close alignment between product, service and customer experience across every phase of the cloud adoption journey.

From assessing cloud readiness to optimizing the experience in the cloud, Cisco can provide not only the robust cloud solutions and insights, but also actionable roadmaps to improve outcomes.

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www.cisco.com APRIL 2021

DEEZER

•

C

Adele Trombetta, Vice President of Customer Experience at Cisco Middle East and Africa and Technology Transformation Group for Europe, the Middle East, Africa and Russia, explains how businesses can best define and meet their unique transformation needs.

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TA R E K M O U N I R

Is Your Cloud Investment Delivering The Best For Your Business?

• COVER STORY •

42 W A S S I M “ S A L” S L A I B Y

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A DIFFERENT BEAT With his roots in Lebanon, today Wassim “Sal” Slaiby—CEO of record company XO and CEO and founder of management company SALXCO— manages headline-hitting international stars, including The Weeknd. His goal now is to elevate Arabic music on a global stage through a new Arabfocused deal with Universal Music Group.

BY SAMUEL WENDEL F O R B E S M I D D L E E A S T.C O M

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IMAGE FROM SALXCO

Abel “The Weeknd” Tesfaye and Wassim “Sal” Slaiby.

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In a dazzling display that was part medley, part cinematic fever dream, pop superstar The Weeknd wowed a global audience during the Super Bowl halftime show in February 2021. The on-field performance in Florida marked another career-high for The Weeknd, whose real name is Abel Tesfaye, following a year that saw him dominate music charts worldwide.

Looking on during the spectacle was Wassim “Sal” Slaiby, Tesfaye’s close friend and business partner.

Slaiby, who manages The Weeknd, helped orchestrate the Canadian artist’s meteoric rise from obscurity to global stardom. His own journey is also impressive. Slaiby grew up in Lebanon during the civil war, later immigrating to Canada as a teenager, where he became a selfmade music mogul. Today, he serves as CEO of The Weeknd’s record label XO and his own talent management company SALXCO. Partnered with Live Nation, SALXCO’s roster features prominent artists such as French Montana, Bebe Rexha, Swedish House Mafia, and M.I.A., to name a few, alongside producers, songwriters, and popular up-andcoming artists such as Ali Gatie and Doja Cat. Notably, many of Slaiby’s clients come from diverse backgrounds, including several with roots in MENA. That ties in with his most recent project with Universal Music Group. The world’s largest music company, which reported revenues of $8.5 billion in 2019 and had a valuation of approximately $35 billion in March 2020, has entrusted Slaiby with running a new department dedicated entirely to breaking Arabic music globally. Called Universal Arabic Music, the department was officially created last year, but Slaiby has spent the last two years developing the project with support from Universal’s chairman and CEO Lucian Grainge and Republic Records CEO Monte Lipman. His goal is to select artists he feels can crossover and find success inside and outside the Middle East while motivating global brands to see value in Arabic music and culture. “I want to see Arabic music win on a global level,” says the 41-year-old CEO.

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Arabic music, says Slaiby, needs to grow with new faces, and he aims to find them wherever they are. Alongside eying MENA, Universal Arabic Music will have dedicated teams everywhere from the U.S. to Germany, Brazil, and beyond. Crucially, its team members will speak Arabic, something Slaiby finds isn’t always the case among industry executives and people handling Arab musicians.

This venture could change the game for Arab artists. “Sal’s clear vision and blueprint for Universal Arabic Music will become a catalyst for Arabic music in the marketplace,” says Republic’s Lipman. “The cultural importance of MENA region music crossing boundaries and reaching all corners of the world is long overdue.” MENA has produced plenty of popular stars, but global success remains elusive for most. However, crossover potential exists. “An Arabic artist like Nancy Ajram can come to America and do 5,000 to 10,000 seaters in the big cities,” says Slaiby.

A key artist Slaiby is focused on right now is the teenage Jordanian singer Issam Alnajjar. His song “Hadal Ahbek” went viral on Tik Tok in 2020 while amassing over 57 million YouTube views. Universal Arabic Music/Republic Records released the single in February 2021 and they’re now working on remixes and planning new material. Slaiby is talking with other artists too. There’s a project with Swizz Beatz and Saudi rapper $kinny, while Egyptian star Mohamed Ramadan is working with the producer RedOne. Slaiby is also working with MC Abdul, a 12-year-old Gazan rapper who recently went viral, as well as rising Palestinian-Chilean singer Elyanna.

Slaiby has enlisted Lebanese-Canadian singer, songwriter, and producer Massari to head A&R. “It has always been a dream of mine to showcase and highlight the beauty of both cultures through music and entertainment,” says Massari. “I believe this is an evolutionary step towards creating a new genre of music that the world has been waiting for.”

Overall, Universal Arabic Music brings together a powerful label and an industry insider with a personal stake in seeing Arab musicians succeed globally. It’s also just the

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PHOTO CREDIT: MILLER MOBLEY; IMAGE FROM SALXCO

Wassim “Sal” Slaiby, CEO of Universal Music Group Sir Lucian Grainge, and CEO of Republic Records Monte Lipman.

latest example of Slaiby using his platform to boost Arab artists.

Since 2017, he’s served as head of international partnerships with Anghami, the Middle East’s homegrown music streaming player. In his role, Slaiby has helped arrange collaborations with Marshmello, Amr Diab, French Montana, Maya Diab, and Massari, while also bringing global stars to perform in MENA, including The Weeknd, Shakira, and Kygo.

Outside of the day job, Slaiby credits his wife Rima Fakih Slaiby, a former Miss USA winner whose family also hails from Lebanon, for keeping him in tune with his roots. “She’s so connected with the culture and what’s going on in Lebanon on a daily basis,” says Slaiby. “She keeps Arabic music blasting in our home.” They both remain committed to Lebanon, even stepping up to rally support for the country in times of need.

Following the tragic Beirut port explosion in August 2020, they sprang into action, organizing an international fundraising campaign called Global Aid For Lebanon alongside Global Citizen. The effort raised over $1.3 million from donors worldwide in less than 10 days. Funds went to organizations on the ground, including the Lebanese Red Cross, the UN World Food Program, and the Children Cancer Center, which was damaged by the explosion.

Those funds helped provide basic assistance to 10,000 of the most vulnerable families, including supplying $300 monthly payments for families, says Nabih Jabr, under-secretary general for the Lebanese Red Cross. And there’s an ongoing need for support.

“There are 50,000 families affected, of which at least F O R B E S M I D D L E E A S T.C O M

Wassim “Sal” Slaiby and his wife Rima Fakih Slaiby set up a fund to help Lebanon after the Beirut port blast.

70% have some degree of vulnerability due to the combined effects of the financial collapse, the Beirut blast, and the COVID crisis,” says Jabr.

The blast hit home for Slaiby personally too. His sister works in Beirut’s financial district adjacent to the port. Fortunately, she hadn’t gone to work that day. Meanwhile, his friends and clients quickly backed the campaign. Massari, French Montana, and Ali Gatie all contributed, with a $300,000 donation coming from The Weeknd. Lebanese singers Nancy Ajram and Ragheb Alama also lent their support through campaigns on their substantial social media platforms. “The fight isn’t over, but all we can do is support the people in their quest for change,” says Slaiby. As a prominent member of the diaspora, he thinks it’s crucial to use his voice to support Lebanon, something he wants to see more peers do on an international level. “You got to be proud of where you come from,” he says. “If you don’t know where you come from, you never know who you are.”

Slaiby comes from Ghazir, a town just up the coast from Beirut, where he grew up amidst Lebanon’s civil war, which ran from the mid-1970s to the beginning of the 90s. He seems to have inherited his entrepreneurial streak from his father, who started out selling fruit and vegetables from the back of his truck before later forming a business in the construction industry and becoming a successful businessman, despite being unable to read or write in Arabic. He passed away when Slaiby was 10-years-old.

In the mid-1990s, as Lebanon struggled to recover from the aftermath of the 15-year conflict, Slaiby immigrated to Montreal, Canada, at age 16. He traveled

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Eddy Maroun, Therese Slaiby, Wassim "Sal" Slaiby, and Elie Habib at Anghami’s fifth anniversary party in Lebanon.

using a visa his father had secured for him before he died, first heading to Cyprus by boat. He eventually arrived in Montreal and later Ottawa, but the transition was tough.

He says he lived alone, knew no one, and initially couldn’t speak English. But he got into high school, and Canada also delivered a sense of security—even while fending for himself, he slept easy at night. “It was like, ‘oh, wow, there are no bombs here? Oh, I’m good,’” Slaiby remembers.

He wouldn’t return to Lebanon for about five years. He vividly remembers meeting his mother at Beirut airport on his first trip back. Both struggled to recognize one another. “We both said each other’s name, making sure that it was me and her,” he says. So much had changed.

Back in Canada, he had become friends with a Palestinian-Canadian kid named Ahmad Balshe, also known as rapper Belly, who helped push him into the music business. After finishing high school, Belly convinced Slaiby to start a record label.

They co-founded independent hip-hop and R&B label Capital Prophet Records in 2002, with Massari as its first artist. “We were just a couple of street kids with some big dreams,” remembers Belly. “The one thing I always counted on is that Sal would figure it out. I always knew he would make it happen somehow.”

Slaiby worked multiple jobs to fund the business. “I would work and put every penny I made into the music,” he

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says. To get the label going, they also brought in another friend with Arab roots, Iranian-Canadian Amir “Cash” Esmailian, and Manny Dion (SALXCO’s current president), to help with things like street promotions. “All we did at that time is sell mixtapes on the street and promote our songs in the clubs,” says Slaiby.

It wasn’t easy for the young music entrepreneurs. It was difficult to secure radio play, and Slaiby remembers stores only ordering five CDs at a time, while their Arab roots also made things harder.

Still, they were doing something right from the first CD they released. “We sold out all stores in the first like 24 hours,” recalls Slaiby.

Over the years, Capital Prophet Records (or CP Records) became a successful independent label in Canada. Massari’s 2005 self-titled album was certified Gold in Canada, while Belly’s 2007 album “The Revolution” won Rap Recording of the Year at the Junos, Canada’s equivalent of the Grammys. Slaiby would eventually sell the label to Live Nation, but a turning point in his burgeoning career would come in 2011, the year he founded SALXCO. By then, Tesfaye had gotten his start as an underground musician in Toronto, posting music to YouTube as The Weeknd.

It didn’t take long for his brooding yet suave R&B style to strike a chord and generate significant hype. In 2010, a friend sent Esmailian several of The Weeknd’s tracks, and he quickly met up with the rising artist. Not long after, Tesfaye met Slaiby for the first time while hanging out at Belly’s apartment.

They hit it off. Slaiby soon took over as The Weeknd’s manager, with Esmailian as co-manager, and Tesfaye, his friend La Mar Taylor, Slaiby, and Esmailian co-founded the XO record company. By then, The Weeknd was on the cusp of something big, dropping three mixtapes in 2011 and raising the buzz around him considerably.

Industry players caught on, with Republic Records and its parent company Universal Music Group inking a distribution and strategic partnership with XO in 2012. The Weeknd’s debut studio album dropped

IMAGES FROM SALXCO

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the following year. From there came hit records, sold-out global tours, and billions of streams. The team that set the ball rolling remains closer than ever. “The relationship I have with Sal transcends business—it’s family,” says Tesfaye (The Weeknd). “The trust and support we share is powerful, and we both cherish and respect it immensely.”

With his influence in the music business growing, in 2016 Slaiby partnered SALXCO with Live Nation.

That year also saw Slaiby get married to Fakih. They naturally held the ceremony in Lebanon, throwing a big bash in Ghazir. His XO partners came too, with The Weeknd serenading the couple’s friends and family.

Slaiby also continued to develop new talents. He says he’s always on the lookout, including getting tips from his wife. A recent find was Ali Gatie, a rising Iraqi-Canadian crooner. “I actually reached out to him myself,” says Slaiby.

“I found him online.”

That hard work continues paying off. SALXCO and XO loomed larger than ever in 2020. Although the global pandemic brought tours and public appearances to a grinding halt, The Weeknd pushed ahead, releasing the album “After Hours.” It was a good move: the record topped the charts, while lead single “Blinding Lights” was a sensation worldwide. Meanwhile, Doja Cat enjoyed a major breakthrough, fueled by the viral success of her track “Say So” on Tik Tok. This came as Slaiby was also preparing to launch Universal Arabic Music. Though the project has taken a while to emerge, the idea seems ready now to come to life. “Sal is a great character with boundless energy and a proven ability to execute,” reveals Sir Lucian Grainge, Chairman and CEO of Universal Music Group. “I’m excited about what we will accomplish together. I’m counting on him.”

Slaiby is ready to deliver. “We need to open doors for new Arab talent,” he says. “We need to pass the torch.”

Wassim “Sal” Slaiby, Rima Fakih Slaiby, and baby Rima W Slaiby, meet Pope Francis at The Vatican in Vatican City.

Wassim “Sal” Slaiby, French Montana, and Hugh Evans, co-founder of Global Citizen.

Jason Quenneville, Wassim “Sal” Slaiby, Belly, and Manny Dion at the 88th Academy Awards in Los Angeles in 2016.

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• THE PROFILE •

ANGHAMI

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PLAYLIST FOR SUCCESS After a historic listing on Nasdaq, music streaming platform Anghami is amplifying its technology to build a generation of Arab audio influencers, according to its CTO Elie Habib.

BY JAMILA GANDHI F O R B E S M I D D L E E A S T.C O M

APRIL 2021

IMAGE FROM SOURCE

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hile most businesses have faced a dismal 12 months, MENA’s leading music streaming platform Anghami was among the fortunate minority that benefited from the pandemic last year. “COVID-19 was a blessing in disguise because it highlighted the discipline, governance, structure, and vision that we had,” says Elie Habib, Co-founder, Chairman, and Chief Technology Officer (CTO) at Anghami.

Fast forward a year since the pandemic hit, and the household Arab name has become a global media success story. On March 3, 2021, the Lebanon-born music powerhouse became the first Arab technology company to announce that it was listing on Nasdaq

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via the Special Purpose Acquisition Company (SPAC), Vista Media Acquisition Company, at a valuation of $220 million.

The milestone also made nine-year-old Anghami only the second Middle Eastern firm to list on a U.S. bourse since logistics giant Aramex went public in 1997. “I did not want COVID, nobody wanted COVID, but it did delay our fundraising and led us to the SPAC route,” recalls Habib.

As investors look beyond merely buying shares of publicly-traded companies to reap gains, SPACs—or blank-check companies— have gained popularity.

The acquisition vehicle is essentially a company with no operating history whose sole purpose is to list on stock exchanges to raise money to acquire other companies.

A SPAC’s speed is what appealed to Habib and his business partner Eddy Maroun, Anghami’s co-founder and CEO. The typical initial public offering (IPO) process can take two to three years from start to finish, while a SPAC only takes three to four months. For private entities like Anghami looking to go public quickly, a SPAC is an attractive option. The listing has also boosted the company’s credibility as its stock is now accessible to the public beyond the region—a feat accomplished by very few businesses in the Middle East. “We can’t do a traditional IPO in the U.S. due to the heightened risks, but merging with a mediafocused SPAC will allow us to hit our growth targets,” explains the CTO. Combined, the two Lebanese co-founders now own approximately 32% of Anghami, with the rest controlled by shareholders, venture capital firms, media, and telecom groups.

The meteoric breakout rise of SPAC IPOs on U.S. bourses in the past year has aided Anghami’s market

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“We can’t do a traditional IPO in the U.S. due to the heightened risks, but merging with a mediafocused SPAC will allow us to hit our growth targets.” triumph. According to data by SpacInsider, blank-check firms raised $83.3 billion in gross proceeds from 248 counts in 2020, eclipsing the record $13.6 billion raised in 2019 from 59 SPAC IPOs. However, listings from the first three months of 2021 have already leapfrogged last year’s records. As of March 17, 2021, SPACs had generated $85 billion in gross proceeds from 263 counts.

From luxury tycoon Bernard Arnault to venture capitalist Chamath Palihapitiya, global sponsors with expertise are also backing this space, lending credibility to the SPAC enterprise. Regionally, Egyptian billionaire Nassef Sawiris—the world’s richest Arab—is hoping to raise $600 million by listing his SPAC, Avanti Acquisition Corp., on the New York Stock Exchange.

“SPACs open up access to global platforms like Nasdaq in a whole new way, and as companies here see what it does for Anghami, we will undoubtedly see more businesses choosing to go down this route,” forecasts Jassim Alseddiqi, Group CEO of SHUAA Capital. The U.A.E.-based asset management and investment banking platform invested an undisclosed sum in Anghami in January, raising investor confidence in MENA’s audio future. Anghami has raised $26 million over almost a decade from backers, including Middle East Venture Partners, Samena Capital, Emirates Integrated Telecommunications Co., MBC Group, Saudi Telecom Mobily, Megalodon, as well as U.S.-based Endeavor and Sal&Co. But even before its successful market F O R B E S M I D D L E E A S T.C O M

listing, Anghami was having a newsworthy year. In January 2021, the company relocated its global headquarters from Beirut to Abu Dhabi, backed by the Abu Dhabi Investment Office (ADIO), the capital’s government investment and development hub. ADIO partnered with the technology pioneer as part of its $545 million Innovation Programme to develop its technology, research, and development (R&D) center in Abu Dhabi. Anghami is targeting a headcount growth from the current 120 to 150 by year-end. It also reported that revenues had jumped 80% over the past three years and that it expects them to increase five-fold over the next three years.

With over 50 million local and international songs and 100,000 podcasts available for more than 70 million users, Anghami has one of the most extensive catalogs in MENA. In 2020, over 10 billion songs were played on Anghami.

“This data informs us what users want to listen to, what they want more of, what they play on repeat and where they are based,” emphasizes Habib, highlighting the significance of artificial intelligence and machine learning algorithms to predict user behavior, improve investing strategies and monetization. Anghami is deploying its resources strategically given that the Middle East and African music streaming market is expected to achieve a compound annual growth rate (CAGR) of over 21% from 2020 to 2027, compared with 17.8% in the global streaming market, as per projections by GrandView.

Currently, only 1% of Anghami’s 57 million tracks are in Arabic, yet it accounts for 50% of the platform’s streaming traffic.

On the one hand, while this indicates Anghami’s victory in filling a market gap, it also signals how scarce funding opportunities have been for Arabic audio content. With access to four times the capital than they have ever raised, alongside the U.S. capital and debt market, the IPO will now enable the co-founders to supercharge growth by doubling down on the platform’s R&D to execute more data-backed customer-oriented decisions.

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Anghami has used its regional first-mover advantage to expand in-house production of a new content vertical— podcasts. In February 2021, iconic Lebanese musician Elissar “Elissa” Khoury launched her exclusive podcast “Elissa: The Podcast” in partnership with Anghami in which she candidly shares her personal experiences. “I’m fond of ideas with transformative powers; ones that manage to transcend any boundaries whether geographically or socially to influence people by giving us artists a voice, and in short that is exactly what music and Anghami stand for,” says the Arab music star. “For rising and independent artists who wish to build their brands effectively, podcasts encapsulate influence, music, and expression, unmasked, traveling faster than the speed of light.”

Habib and Maroun are capitalizing on a burgeoning market. In a survey conducted by Amaeya Media, the U.A.E.’s largest podcast network, more than half (55%) of MENA respondents stated that they had listened to more podcasts since March 2020. “Very soon, the U.A.E. could lead the way in world podcasting,” explains Cheryl King, Managing Director at markettiers MENA. Data by the U.A.E.-based broadcast specialist consultancy shows that 16% of the local population is now tuning into podcasts at least weekly. In listenership terms, the U.A.E. is currently on par with the U.K. and creeping up behind the U.S.—for now, the world’s premier podcast market. In terms of the podcast trust factor, the U.A.E. and, in particular, Saudi Arabia are sprinting ahead of other world markets.

“Anghami has become the Spotify of the Middle East in some ways and represents a huge step forward for the podcast landscape in the region,” says King. “With a third of podcasts already in Arabic, this should create a wave of new podcasts that are catering towards the 450 million global Arabic speakers that will help drive funding and propel the podcast scene forward in the region, alongside resonating with the Arab musical heritage.”

From an investor perspective, Alseddiqi finds that the strength of Anghami’s private investment in public equity (PIPE), which SHUAA has secured, demonstrates the investor appetite in this region and beyond, whether it’s a demand for music, live radio, events, or podcasts. Following the success of Elissa’s show, a tight-lipped Habib admits there are already other podcast partnerships in the pipeline but declines to say with who.

In the international tech sphere, audio has been gaining traction with the additions of invite-only social app Clubhouse and Twitter’s voice-based Spaces in beta launch. Last year also witnessed some big-ticket acquisitions in the podcasting space. Notably, Amazon Music joined the bandwagon and bought podcast publisher Wondery to develop more exclusive content.

Whereas Spotify has signed podcast deals with media personalities like Michelle Obama, Kim Kardashian West, and former royals Prince Harry and Meghan Markle.

Nonetheless, Habib is bullish on Anghami’s prospects and prioritizes localization and retaining Arab culture despite going public. “This is the beginning of the company’s diaspora journey. I call it chapter two,” he teases. In a region where the digital music revolution is moving at warp speed, it appears that the surface is still unscratched for this chart-topper—we’ll keep our ears on Anghami.

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THE CELEBRITY LIST

THE LIST

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ARAB MUSIC STARS 2021

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one are the days of browsing record stores and complex stereo systems— this is the era of the streaming platform, and this last year especially has seen the online consumption of music skyrocket. Record sales have been replaced by follows, downloads, and views.

This has led to booming revenues for the streamers. As of March 17, 2021, Spotify had a market value of $54.4 billion. Meanwhile Deezer was valued at $1.4 billion as of July 2020. In the Middle East, leading home-grown streaming service Anghami is about to list on the U.S. stock exchange, Nasdaq, at a valuation of $220 million.

Our list of the Middle East’s top Arab music celebrities highlights 50 of MENA’s most streamed and followed active singers, bands, and rappers that dominated the Arabic music industry in 2020.

The list was dominated by Egyptian artists with 20 entries, followed by Lebanese with 12. Adham Nabulsi was Jordan’s sole entry, ranking among the 10 most-streamed Arab singers on Anghami last year. Meanwhile, rapper Balti was Tunisia’s only entry with more than 1.3 billion views on YouTube.

Unsurprisingly, Egyptian veteran superstar Amr Diab was last year’s most-streamed Arab singer in MENA on Anghami, Deezer, and Spotify. And Lebanese songbird Nancy Ajram was the most followed singer on social media, with more than 71 million followers on Facebook, Twitter, and Instagram. Moroccan singer Saad Lamjarred is the most followed on YouTube, with more than 12.4 million subscribers to his channel.

To help construct this list, Anghami and Deezer both shared some detailed data with us. We looked at the top 50 most-streamed active singers and artists on both platforms between January 1 and December 31, 2020, as well as numbers of YouTube views and subscribers, and social media followers.

We have presented this non-ranked list in alphabetical order according to the English alphabet and using either the individual’s first name or the stage name they are known by.

To nominate yourself or someone else for our lists, email: info@forbesmiddleeast.com

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THE CELEBRITY LIST

ARAB MUSIC STARS 2021 Abyusif

NATIONALITY: Egyptian

653,000 subscribers on YouTube Rapper Abyusif previously dabbled in metal and rock music, learning the drums when he was young, before switching to rap in 2011, aged 26. He also reportedly previously worked in advertising, claiming in interviews that the industry helped him become a better rapper. He released his latest album, “7abek Bors,” in February 2021. He has collaborated with brands including Vodafone, Pepsi, Cheetos, and Mandolin.

In 2020, Abyusif was among the top 50 most-streamed Arab singers on Anghami and the most-streamed artists in MENA on Deezer. He has over 653,000 subscribers on YouTube, with his videos viewed more than 30.7 million times as of March 19, 2021.

FACEBOOK/ABDUL MAJEED ABDULLAH; @ABYUSIFOFFICIAL/FACEBOOK

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Abdul Majeed Abdullah

NATIONALITY: Saudi

#10 most-streamed Arab singer in MENA on Deezer Born in 1962, Abdullah started singing at the age of 13 in Saudi Arabia, performing at events including the Ittihad Club’s annual festival, where he was first discovered. He began singing in Egypt at 17. He released his first album in 1984 and has released more than 31 albums and 80 singles since.

In 2020, he was the tenth most-streamed Arab singer in MENA and the most-streamed singer in Saudi Arabia on Deezer. His song “Hann El Ghareeb” was Deezer’s most-streamed song in MENA in 2020. Abdullah has over 894,000 subscribers on YouTube, with his videos viewed more than 737 million times as of March 25, 2021.

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Adham Nabulsi

NATIONALITY: Jordanian

#10 most-streamed Arab singer on Anghami Nabulsi appeared on the Middle Eastern version of The X Factor in 2013 when he was 19 years old. His 2018 song “Howeh El Hob” was viewed more than 100 million times in five months, and the following year he performed at the International Festival of Carthage in Tunisia.

In 2020, Nabulsi was the tenth most-streamed Arab singer on Anghami.

His song “Btaaref Shuur” was the fifth most-streamed Arabic song on the platform last year. He has over 3.2 million subscribers on YouTube, with his videos viewed more than 886 million times as of March 19, 2021.

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Ahlam Alshamsi

NATIONALITY: Emirati

557,000 subscribers on YouTube

@ADHAM.NABULSI/FACEBOOK; @AHLAMALSHAMSI/TWITTER

Ahlam has been a star of the Arab music industry for over 25 years, having released her first album in 1995 and her latest “Fedwat Oyounak” in February 2021. Among other ventures, Ahlam has recently created her own perfumes, collaborating with ROJA Parfums in 2018, Atyab al Khayal in 2020, and Stéphanie de Brujin in 2021.

Ahlam has over 557,000 subscribers on YouTube, with her videos viewed more than 232 million times as of March 19, 2021.

She is the most followed Emirati singer on social media, with more than 31 million followers across Facebook, Twitter, and Instagram as of the end of 2020.

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Amr Diab

NATIONALITY: Egyptian

#1 most-streamed Arab singer in MENA on Anghami and Deezer

@AMRDIAB/TWITTER

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Diab is one of the Middle East’s most successful and internationally-recognized Arab artists. He released his first album, “Ya Tareea,” in 1983, age 22, and has since released more than 36 albums. He has collaborated with many brands throughout his career, including Pepsi and Vodafone, and in February 2021 he released his own perfume. In 2016 he set a Guinness World Record for the most World Music Awards wins for Best Selling Middle Eastern Artist.

In 2020, Diab was the most-streamed Arab singer in MENA on Anghami and Deezer. His “Sahran” album was also the most-streamed new album released in 2020 on Anghami, with more than 68 million streams last year, surpassing international artists such as The Weeknd and Dua Lipa. He has over 4.9 million YouTube subscribers, with his videos viewed nearly 1.4 billion times as of March 25, 2021. Diab had more than 43 million followers across Facebook, Twitter, and Instagram as of the end of 2020.

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Angham

NATIONALITY: Egyptian

#9 most-streamed Arab artist in MENA on Deezer Angham released her first album in 1987 after Egyptian singer Mohammed Abdel Wahab, a friend of her father, gave her his song “Basbosa.” On New Year’s Eve 2020, she performed the first concert at the new Khorfakkan Amphitheatre in Sharjah, U.A.E., alongside Hussain Al Jassmi. In February 2021, she recorded a song as part of Egyptian President Abdel Fattah El Sisi’s “100 Million Healthy Lives” initiative.

In 2020, Angham was the ninth most-streamed Arab artist in MENA on Deezer. Her latest album, “Mazh,” became the sixteenth most-streamed album in MENA on the platform last year. She has over 375,000 subscribers on YouTube, with her videos viewed more than 78 million times as of March 25, 2021.

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Assala Nasri

NATIONALITY: Syrian

#5 most-streamed Arab singer in MENA on Deezer

@ANGHAM/TWITTER; @ASSALAOFFICIAL/FACEBOOK

Nasri’s father was a composer and singer, and she began singing aged four. She kicked off her musical career in 1991 with her debut album “Law Ta’rafou,” and she has since released at least 22 albums. She sang the theme song “Qessas Al Sho’oub” for the cartoon show, “Hekayat Alamiyah.”

In 2020, Nasri released her “La Testaslem” album, which became the most-streamed album in Saudi Arabia and the third most-streamed album in MENA on Deezer last year. Overall she was also the platform’s fifth most-streamed Arab singer in MENA in 2020, and she was among the top 50 most-streamed Arab artists on Anghami.

Nasri has over four million subscribers on YouTube, with her videos viewed more than 1.5 billion times as of March 25, 2021. She had over 30.6 million followers across Facebook, Twitter, and Instagram as of the end of 2020.

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Balti

NATIONALITY: Tunisian

5.1 million subscribers on YouTube

Cairokee

NATIONALITY: Egyptian

2.3 million subscribers on YouTube The five members of Cairokee were childhood friends before they decided to form one of Egypt’s first rock bands in 2003.

Cairokee’s frontman Amir Eid has appeared in ads for Coca-Cola, Uber, Vodafone, and Samsung. The band released a live studio session in 2020.

In 2020, Cairokee was among the top 50 most-streamed Arab singers on Anghami and the 50 most-streamed artists in MENA on Deezer. The band has over 2.3 million subscribers on YouTube, with their videos viewed more than 487 million times as of March 25, 2021.

BALTI - BALTIROSHIMA/FACEBOOK; @CAIROKEE/TWITTER

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Rapper Mohamed Saleh Balti started composing and singing on social media platforms before his first TV appearance in 2009—an interview on “Hatha Ana.” In the same year, he released his first album, “L’Album Avant L’Albombe,” followed by “Le Journal” in 2010. He has released more than 40 singles.

Balti has over 5.1 million subscribers on YouTube, with his videos viewed more than 1.3 billion times as of March 25, 2021. His song “Ya Hasra,” released in February 2021, surpassed 18 million views within a month. Balti had over 3.7 million followers across Facebook and Instagram as of the end of 2020.

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Carole Samaha

NATIONALITY: Lebanese

909,000 subscribers on YouTube

Singer, actor, and show dancer, Samaha released her first album in 2003. She became a representative of Pepsi in the Middle East in 2007 and a United Nations Ambassador for Peace in the Middle East in 2008. In 2020, Samaha released a nine-song Christmas album titled “Christmas Carole.”

Samaha was among the top 50 most-streamed Arab singers on Anghami in 2020. She has over 909,000 subscribers on YouTube, with her videos viewed more than 310 million times as of March 19, 2021. She had 17.5 million followers across Facebook, Twitter, and Instagram as of the end of 2020.

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Cheb Bilal

NATIONALITY: Algerian

CAROLE SAMAHA/FACEBOOK; CHEB BILAL/FACEBOOK; @EL_SAWAREEKH/TWITTER

3.5 million subscribers on YouTube Bilal is a Raï singer, which is a style of Algerian folk music. He started his career singing at weddings and festivals with his group “El Ahouar” in the 80s. He moved to Marseille in 1989, where he gained fame with his album “Sidi Sidi.” In 2002, he signed a deal with Universal.

In 2020, Bilal was among the top 50 most-streamed artists in MENA on Deezer. He has nearly 3.5 million subscribers on YouTube, with his videos viewed more than 885 million times as of March 19, 2021.

El Swareekh

NATIONALITY: Egyptians

1.2 million subscribers on YouTube Formed in 2014 by Egyptian duo Dokdok and Fanky, El Swareekh released their first album in 2014 but rose to fame when they released their hit “Laa’’ in 2017.

The Shaabi singers appeared in an ad for Telecom Egypt in 2021.

In 2020, El Swareekh were among the 50 most-streamed Arab singers on Anghami. They have over 1.2 million subscribers on YouTube, with their videos viewed more than 380 million times as of March 19, 2021.

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ElGrandeToto

NATIONALITY: Moroccan

#8 most-streamed Arab artist in MENA on Deezer Rapper Taha Fahssi, who goes by the stage name ElGrandeToto, uses a mixture of Arabic, French, and English in his songs. He began his career in 2017 with his debut song “Pablo.”

He released his debut album “Illicit” in 2018, followed by “Cameleon” in 2021. He has released more than 20 singles.

In 2020, Fahssi was the eighth most-streamed Arab artist in MENA on Deezer, and his song “Hors Série” was the seventh most-streamed song on the platform. He has over 1.8 million subscribers on YouTube, with his videos viewed more than 195 million times as of March 19, 2021.

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Elissa

NATIONALITY: Lebanese

#3 most-streamed Arab singer in MENA on Deezer

F O R B E S M I D D L E E A S T.C O M

ELGRANDETOTO/INSTAGRAM; @ELISSAKH/TWITTER

Elissa, known among her fans as the “Queen of Romance,” first appeared on the famous Lebanese music competition “Studio Alfan” in 1992. She has collaborated with many brands throughout her career, including Christian Dior and jeweler L’azurde. In 2017, Elissa became the brand ambassador for contact lens company AirOptix Colors and FreshLook. She was also a brand ambassador for Pepsi in the Middle East and appeared in ads with Christina Aguilera.

In February 2021, she released the first episode of her new weekly podcast on Anghami.

In 2020, Elissa was the third most-streamed Arab singer in MENA on Deezer, and her album “Sahbit Raey” was the most-streamed album in MENA on the platform.

She was also among the top 50 most-streamed Arab singers on Anghami. She has over 3.3 million subscribers on YouTube, with her videos viewed more than 955 million times as of March 25, 2021.

Elissa had over 56 million followers across Facebook, Twitter, and Instagram as of the end of 2020, making her the second most followed Arab singer on social media.

APRIL 2021

Hussain Al Jassmi

NATIONALITY: Emirati

#7 most-streamed Arab singer on Anghami

Haifa Wehbe

NATIONALITY: Lebanese

700,000 subscribers on YouTube Singer and actress Wehbe has released seven studio albums since launching her career in 2002. In 2020, she starred in a TV show named “Eswed Fateh” and announced that she had become the first brand ambassador for Celena contact lenses.

Wehbe has over 700,000 subscribers on YouTube, with her videos viewed more than 175 million times as of March 19, 2021.

She had nearly 27 million followers across Facebook, Twitter, and Instagram as of the end of 2020.

Hassan Shakosh

@HAIFAWEHBE/TWITTER; HASSAN SHAKOSH/FACEBOOK; @7SAINALJASSMI/TWITTER

NATIONALITY: Egyptian

#3 most-streamed Arab singer on Anghami Shakosh is a Shaabi singer, which is a type of Egyptian street music. Before taking up singing, he was a football player for the Egyptian club, Ismaily SC. In October 2020, Shakosh collaborated with Egyptian rapper Wegz on a song advertising Egyptian ridehailing app Halan.

In 2020, Shakosh was the third most-streamed Arab singer on Anghami, and he was among the top 50 most-streamed artists in MENA on Deezer. His song “Bent Elgeran” was the most-streamed Arabic song on Anghami and the second most-streamed song in MENA on Deezer last year.

His videos had been viewed on YouTube nearly 1.5 billion times as of March 19, 2021.

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Al Jassmi released his first album, “Gased,” in 2002 and has released more than 15 albums and 50 singles since. He is a regular singer at Arab music festivals, including the Dubai Shopping Festival and Hala Festival. Last year he sang the official 2020 Ramadan ad song for Orange Egypt. He has also collaborated with Pepsi Arabia and is a brand ambassador for Dubai’s Expo 2020.

In 2020, Al Jassmi was the seventh most-streamed Arab singer on Anghami and among the top 50 moststreamed artists in MENA on Deezer. He has over 6.9 million subscribers on YouTube, with his videos viewed more than 2.6 billion times as of March 25, 2021. He had more than 21.1 million followers across Facebook, Twitter, and Instagram as of the end of 2020, with more than 10 million of those on Facebook alone.

Kadim Al Sahir

NATIONALITY: Iraqi

581,000 subscribers on YouTube

Mahmoud El Esseily

NATIONALITY: Egyptian

#18 most-streamed Arab singer on Anghami El Esseily started singing when he was a student at the American University in Cairo, performing in studentorganized concerts before his graduation in 2006. He has previously recorded songs for Coca-Cola and Orange Egypt, and he recorded a song with Egyptian singer Bahaa Sultan for Banque Misr’s Ramadan 2020 ad.

In 2020, El Esseily was the eighteenth most-streamed Arab singer on Anghami, and he was among the top 50 most-streamed artists in MENA on Deezer. He has over 1.2 million subscribers on YouTube, with his videos viewed more than 312 million times as of March 19, 2021. El Esseily had 5.1 million followers across Facebook, Twitter, and Instagram as of the end of 2020.

KADIMALSAHIRORG/TWITTER; @CHEBKHALEDOFFICIAL/INSTAGRAM; @ESSEILY/TWITTER

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Singer, composer, and songwriter Al Sahir has sold over 30 million albums in his more than 35-year career. He was appointed a UNICEF Regional Ambassador for MENA in 2015, and in 2016 he was selected as a coach for MBC’s The Voice Kids. In 2020 he performed a virtual concert in collaboration with the Abu Dhabi Cultural Foundation.

Al Sahir released a song for the U.A.E.’s “Hope” probe to Mars mission in 2021.

Al Sahir has over 581,000 subscribers on YouTube, with his videos viewed more than 8.8 million times as of March 25, 2021. He had 25 million followers across Facebook, Twitter, and Instagram as of the end of 2020.

Khaled

NATIONALITY: Algerian

1.5 million subscribers on YouTube Singer Khaled has been dubbed the “King of Raï” in a career spanning nearly five decades. He was appointed a Goodwill Ambassador for the Food and Agriculture Organization in 2003. In 2014, he sang the World Cup Coca-Cola anthem with Lebanese singer Nancy Ajram, and in 2020 he released a song for blast-stricken Beirut called “Elle S’appelle Beyrouth.” He has collaborated with several international artists, including French Montana and Pitbull.

In 2020, Khaled was among the top 50 most-streamed artists in MENA on Deezer. He has over 1.5 million subscribers on YouTube, with his videos viewed more than 408 million times as of March 19, 2021.

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Marwan Khoury

NATIONALITY: Lebanese

786,000 subscribers on YouTube

Majid Almohandis

NATIONALITY: Iraqi / Saudi

747,000 subscribers on YouTube

@IMARWANKHOURY/INSTAGRAM;​MAJID ALMOHANDIS/FACEBOOK

Before becoming a professional musician, singer, and composer, Almohandis studied engineering in Baghdad and worked as a tailor for several years. He released his first album, “Mo Bas Ahebak,” in 2000 and has released more than 10 albums since.

In 2020, Almohandis was among the top 50 most-streamed artists in MENA on Deezer and the third most-streamed singer in Saudi Arabia. His song “Yhizak Al Shooq” was the second most-streamed song in the kingdom. His album “Shahd El Horouf” was also the eighteenth most-streamed album in MENA on the platform last year. He has over 747,000 subscribers on YouTube, with his videos viewed more than 245 million times as of March 25, 2021.

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Singer, songwriter, music arranger and composer, Khoury released his first album “Kasak Habibi” in 1987 and has released six albums since. He has also written songs for other famous artists, including Elissa, Carole Samaha, and Myriam Fares.

In 2020, Khoury was among the top 50 most-streamed Arab singers on Anghami. He has over 786,000 subscribers on YouTube, with his videos viewed more than 279 million times as of March 25, 2021. Khoury had over 4.2 million followers across Facebook, Twitter, and Instagram as of the end of 2020.

Marwan Moussa

NATIONALITY: Egyptian

NATIONALITY: Egyptian

468,000 subscribers on YouTube

#2 most-streamed Arab singer on Anghami

Rapper and producer Moussa began his career in 2017 and rose to fame in 2019 with his hit song “Nhayt El 3alam.” He has appeared in TV ads for We, Etisalat, and Freska and performed on the official song for the 27th Men’s Handball World Championship Cup 2021 alongside Tamer Hosny and Hoda Sherbeeny.

In 2020, Moussa was among the 50 most-streamed Arab singers on Anghami and the most-streamed artists in MENA on Deezer. He has over 468,000 subscribers on YouTube, with his videos viewed more than 39 million times as of March 19, 2021.

Hamaki released his first song in 1998 as part of a compilation album featuring various artists “Lekaa El Nogoum.” He went on to release his first album, “Khaleena Ne’eesh,” in 2003. In December 2019, he partnered with Chinese electronics company Oppo for his song “Tearaf Bahebak Leh” for an ad for the Reno2 F smartphone.

In 2020, Hamaki was the second most-streamed Arab singer on Anghami and the sixth most-streamed artist in MENA on Deezer. He has over 2.3 million subscribers on YouTube, with his videos viewed more than 661 million times as of March 19, 2021. He had over 28.9 million followers across Facebook, Twitter, and Instagram by the end of 2020.

Mohamed Assaf

NATIONALITY: Palestinian

155,000 subscribers on YouTube Assaf won Arab Idol in 2013. He was appointed as an United Nations Relief and Works Agency (UNRWA) Regional Youth Ambassador in the same year but stepped down from the role in 2017. A movie inspired by his life, called “The Idol,” was released in 2015.

Assaf has 155,000 subscribers on YouTube, with his videos viewed more than 23 million times as of March 19, 2021. He had over 20 million followers across Facebook, Twitter, and Instagram as of the end of 2020.

MARWAN MOUSSA/FACEBOOK; MOHAMMED ASSAF/FACEBOOK; @HAMAKI/FACEBOOK

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Mohamed Hamaki

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Mohamed Mounir

NATIONALITY: Egyptian

612,000 subscribers on YouTube Mounir began his career in the late 70s and rose to fame with his Nubian style of music and socially-conscious lyrics.

He released his first album, “Alemony Eneiky,” in 1977 and has released at least 30 albums since, with his latest “Bab El Gamal” out in January 2021.

He headlined the Liverpool Arabic Arts Festival in 2010, performing at the Liverpool Philharmonic Hall.

In 2020, he was among the 50 most-streamed Arab singers on Anghami and the most-streamed artists in MENA on Deezer. He had over 612,000 subscribers on YouTube, with his videos viewed more than 56 million times as of March 19, 2021.

He had more than eight million followers across Facebook, Twitter, and Instagram as of the end of 2020.

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Mohamed Ramadan

NATIONALITY: Egyptian

12.3 million subscribers on YouTube

@MOHAMEDMOUNIR/FACEBOOK; @RAMADAN/FACEBOOK

Singer and actor Ramadan started his career with roles in TV series like “The Cinderella” in 2006 until he got his big break in “Ehky Ya Sharazad” in 2009. He released his first single in 2018. His 2020 single with Maître Gims “Ya Habibi” was promoted on a Spotify billboard in New York’s Times Square, making him only the second Arab artist to achieve this after Amr Diab. He has appeared in ads for the Etisalat Group in Egypt and is preparing to release his upcoming TV series “Moussa’’ in 2021. He is a U.A.E. Golden Visa holder.

In 2020, Ramadan was among the top 50 most-streamed Arab artists on Anghami and the 50 most-streamed artists in MENA on Deezer. His song “Ensay” with Moroccan singer Saad Lamjarred was the thirteenth most-streamed Arabic song on Anghami, and “Rayheen Nesshar” was the most-streamed song in Egypt on Deezer. He has 12.3 million subscribers on YouTube, with his videos viewed more than 3.8 billion times as of March 25, 2021. He had over 33 million followers across Facebook, Twitter, and Instagram as of the end of 2020.

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Moustafa Hagag

NATIONALITY: Egyptian

#38 most-streamed Arab singer on Anghami

Myriam Fares

Najwa Karam

NATIONALITY: Lebanese

NATIONALITY: Lebanese

1.1 million subscribers on YouTube

583,000 subscribers on YouTube

Fares appeared on the famous Lebanese talent show Studio Alfan program in 2001. She released her first album, “Ana Wel Shou,” in 2003 and has since released four more studio albums. Fares has been a brand ambassador for Saudi Arabian jewelry brand L’azurde since 2018. She also endorses the clothing brand REDTAG. Fares starred in her own Ramadan show, “Fawazeer Myriam,” in 2010 and played Tinkerbell in the musical “Peter Pan: The Never Ending Story” in Dubai.

Fares has over 1.1 million subscribers on YouTube, with her videos viewed more than 388 million times on YouTube as of March 19, 2021. She had more than 27.6 million followers on Facebook, Twitter, and Instagram as of the end of 2020.

Karam has sold over 60 million records worldwide and is a regular judge on the TV show “Arabs Got Talent.” In 2020, she was also among the four judges on MBC’s The Voice Senior, which features singers above the age of 60. Karam has appeared in ads for L’Oréal as a brand ambassador.

Karam has over 583,000 subscribers on YouTube, with her videos viewed more than 207 million times as of March 25, 2021. She had nearly 34.5 million followers across Facebook, Twitter, and Instagram as of the end of 2020.

@MOSTAFAHAGAGNJ/INSTAGRAM; @MYRIAMFARES/TWITTER; @NAJWAKARAM/INSTAGRAM

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Hagag rose to fame after releasing his debut song “Ana Bat’ataa Men Gowaya” in 2014. He released his most famous song, “Ya Mna3n3,” the following year. In 2020, he sang the theme song for the Ramadan series “Kheyanet 3ahd,” starring Egyptian actress Yousra.

In 2020, Hagag was among the top 50 most-streamed Arab singers on Anghami. His latest album, “Hatzahzah,” was the thirteenth moststreamed album on Deezer in MENA last year.

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Nassif Zeytoun

NATIONALITY: Lebanese

NATIONALITY: Syrian

5.5 million subscribers on YouTube

#6 most-streamed Arab singer on Anghami

Ajram is one of the Middle East’s biggest stars, having first hit the scene in 1995 aged 12. She has worked with many brands throughout her career, including Persil, Coca-Cola, and Orange Egypt. She won World Music Awards in 2008, 2011, and 2014 and was appointed a UNICEF MENA Regional Goodwill Ambassador in 2009.

In 2020, Ajram was the eleventh most-streamed Arab singer on Anghami. She has over 5.5 million subscribers on YouTube, with her videos viewed more than 2.1 billion times as of March 19, 2021. She had more than 71 million followers across Facebook, Twitter, and Instagram as of the end of 2020.

Zeytoun won Star Academy Arabia in 2010. His debut album “Ya Samt,” released in 2013, was one of the first Arabic albums to exceed 100 million views on YouTube.

He released his second album, “Toul Al Yom,” in 2016.

In 2020, Zeytoun was the sixth most-streamed Arab singer on Anghami. He had four million subscribers on YouTube, with his videos viewed more than 1.5 billion times as of March 19, 2021. He had over 10.5 million followers across Facebook, Twitter, and Instagram as of the end of 2020.

Omar Kamal

@NANCYAJRAM/FACEBOOK; @NASSIF.ZEYTOUN/FACEBOOK; @OMARKAMALOK/FACEBOOK

NATIONALITY: Egyptian

1.8 million subscribers on YouTube Kamal rose to fame after releasing “Bent El Geran” with Shaabi singer Hassan Shakosh in 2019.

He has since appeared in various ads for local Egyptian brands as well as telecom company Etisalat Misr.

In 2020, Kamal was among the top 50 most-streamed artists in MENA on Deezer and among the 50 most-streamed Arab singers on Anghami. “Bent El Geran” was the most-streamed Arabic song on Anghami in 2020 and the second most-streamed song in MENA on Deezer.

Kamal has nearly 1.8 million subscribers on YouTube, with his videos viewed more than 402 million times as of March 19, 2021. He had 9.3 million followers across Facebook and Instagram as of the end of 2020.

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Nancy Ajram

Ramy Ayach

NATIONALITY: Lebanese

342,000 subscribers on YouTube Singer, composer, and music producer Ayach first appeared on the famous Lebanese talent show “Studio Alfan” in 1996. In 2020, he performed a live concert from his house. He is also the founder of the Ayach Al Tofoula Foundation, which aims to educate and empower children.

In 2020, Ayach was among the top 50 moststreamed Arab singers on Anghami. He has 342,000 subscribers on YouTube, with his videos viewed more than 102 million times as of March 19, 2021.

He had 6.5 million followers across Facebook, Twitter, and Instagram as of the end of 2020

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@RAGHEBALAMA/FACEBOOK; @RAMYAYACH.RAF/FACEBOOK

Ragheb Alama

NATIONALITY: Lebanese

786,000 subscribers on YouTube Alama began singing professionally in 1982 and won the Arabian World Gold Lion award for Best Arabic Singer in 1998. He has served as a judge on Arab Idol and as a coach on The Voice: Ahla Sawt, and he was a UN Environment Programme Goodwill Ambassador from 2013 to 2015. He has previously collaborated with watchmaker Hublot.

In 2020, Alama was among the top 50 most-streamed Arab singers on Anghami. He has over 786,000 subscribers on YouTube, with his videos viewed more than 384 million times as of March 19, 2021. He had nearly 13 million followers across Facebook, Twitter, and Instagram as of the end of 2020.

F O R B E S M I D D L E E A S T.C O M

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Ramy Sabry

NATIONALITY: Egyptian

NATIONALITY: Egyptian

818,000 subscribers on YouTube

#12 most-streamed Arab singer on Anghami

@RAMYGAMALOFFICIALPAGE/FACEBOOK; @RAMYSABRRY/FACEBOOK; @RASHEDTV/TWITTER

Singer and writer Gamal composed 160 songs for other artists, including Elissa, before starting his career in 2011 with his first album “Maleesh Daawa Behad.” He has since released four more albums, with his most recent being “Ana Lewahdy” in 2020. He has a new album due out in 2021.

In 2020, Gamal was among the top 50 most-streamed Arab singers on Anghami. “Ana Lewahdy” was also the second moststreamed album on Deezer in Egypt last year. He has 818,000 subscribers on YouTube, with his videos viewed more than 220 million times as of March 19, 2021. He had more than nine million followers across Facebook, Twitter, and Instagram as of the end of 2020.

Sabry started his musical career by composing songs for Amer Mounib, Sherine Abdel-Wahab, and Fadl Shaker. He released his first album “Habibi El Awalani” in 2006 and has released at least five more albums since. He has also appeared in TV shows “Taratata,” “Nagham,” and “Sekout Hanghny.”

In 2020, Sabry was the twelfth most-streamed Arab singer on Anghami, and he was among the top 50 moststreamed artists in MENA on Deezer. His song “Hayati Mesh Tamam,” released in February 2020, was the ninth most-streamed Arabic song on Anghami and the fourteenth most-streamed song on Deezer in MENA last year. Sabry has 461,000 subscribers on YouTube, with his videos viewed more than 108 million times as of March 19, 2021.

Rashed AlMajid

NATIONALITY: Saudi

2.1 million subscribers on YouTube Singer, musician, and record producer AlMajid released his first official album in late 1984 when he was only 14 years old. He has since released more than 20 albums.

In 2020, AlMajid was among the top 50 moststreamed artists in MENA on Deezer. He has over 2.1 million subscribers on YouTube, with his videos viewed more than 1.7 billion times as of March 19, 2021. He had more than 3.3 million followers across Facebook, Twitter, and Instagram as of the end of 2020.

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Ramy Gamal

Saad Lamjarred

NATIONALITY: Moroccan

12.4 million subscribers on YouTube

Saif Nabeel

NATIONALITY: Iraqi

#20 most-streamed Arab singer on Anghami Nabeel released his debut single “Hai Al Sanna” in 2011. He currently serves as a judge on Iraq Idol and advertises Samsung. In 2021, Nabeel appeared in an ad for Zain Iraq with Mohamed Ramadan.

In 2020, Nabeel was among the top 50 most-streamed Arab singers on Anghami.

His videos had been viewed more than 297 million times on YouTube as of March 19, 2021.

F O R B E S M I D D L E E A S T.C O M

Sharmoofers

NATIONALITY: Egyptians

806,000 subscribers on YouTube Sharmoofers was formed in 2012 by Ahmed “Bob” Bahaa and Mohamed “Moe” El-Arkan. The band produces and writes its own music and appeared in several ads in 2020, including for food delivery service Talabat and Chinese electronics company Xiaomi.

In 2020, Sharmoofers were among the 50 most-streamed Arab artists on Anghami. They have over 806,000 subscribers on YouTube, with their videos viewed more than 103 million times as of March 19, 2021. @SAADLAMJARRED.OFFICIAL/FACEBOOK; @SAIFNABEELL/TWITTER; @SHARMOOFERS/FACEBOOK

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Saad Lamjarred first appeared in the talent show “Superstar” in 2007 and released his first album, “Wala 3alik,” in 2013. He released his most famous song,” LM3ALLEM,” in 2015 and his first song in the Egyptian dialect, “Adda El Kalam,” in July 2020.

In 2020, Lamjarred was among the top 50 most-streamed Arab singers on Anghami and the 50 most-streamed artists in MENA on Deezer. His song, “Adda El Kalam,” was the fourth most-streamed Arabic song on Anghami last year. He has over 12.4 million subscribers on YouTube, with his videos viewed more than 3.1 billion times as of March 31, 2021. He had 15.5 million followers across Facebook, Twitter, and Instagram as of the end of 2020.

APRIL 2021

Sherine Abdel-Wahab

NATIONALITY: Egyptian

#9 most-streamed Arab singer on Anghami Singer, actress, and former judge on MBC’s “The Voice: Ahla Sawt,” Abdel-Wahab first rose to fame in the early 2000s with the song “Ah Ya Lail.” She has since collaborated with Najwa Karam for a song for Zain, and she has appeared in ads for Vodafone and 500 500 Hospitals. She released her song “Ya Betfaker Ya Bet7es” in the Lebanese dialect in August 2019.

In 2020, Abdel-Wahab was the ninth most-streamed Arab singer on Anghami and among the top 50 most-streamed artists in MENA on Deezer. She has 3.6 million subscribers on YouTube, with her videos viewed more than 882 million times as of March 19, 2021.

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Soolking

NATIONALITY: Algerian

SHERINE ABDEL-WAHAB/TWITTER; @SOOLKINGOFFICIEL/FACEBOOK; @TAMERASHOUR/TWITTER

#7 most-streamed Arab artist on Deezer in MENA Rapper Soolking, whose real name is Abderraouf Derradji, previously worked as an acrobat and dancer before founding his own rap group. By 2017, he was releasing songs online when rapper “Sofiane” gave him a recording contract. He released his first album, “Fruit du demon,” in 2018, followed by “Vintage” in 2020.

In 2020, Soolking was the seventh moststreamed Arab artist on Deezer in MENA. His song, “Meleğim,” was the seventeenth most-streamed song on Deezer last year, and “Vintage” was the seventeenth moststreamed album on Anghami. He has over 7.8 million subscribers on YouTube, with his videos viewed more than 1.5 billion times as of March 19, 2021. He had 8.3 million followers across Facebook, Twitter, and Instagram as of the end of 2020.

Tamer Ashour

NATIONALITY: Egyptian

#16 most-streamed Arab singer on Anghami Ashour started his career in 2004 and released his first album, “Sa’ab,” in 2006. He has released five albums since, with his latest being “Ayam” in 2019. In May 2020, Ashour partnered with Vodafone Egypt to release a song praising Egypt’s medical workers for their efforts against COVID-19.

In 2020, Ashour was the sixteenth most-streamed Arab singer on Anghami and was among the top 50 most-streamed artists in MENA on Deezer. He has over 1.2 million subscribers on YouTube, with his videos viewed more than 221 million times as of March 19, 2021. He had over 11 million followers across Facebook, Twitter, and Instagram as of the end of 2020.

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APRIL 2021

Tamer Hosny

NATIONALITY: Egyptian

#4 most-streamed Arab artist in MENA on Anghami and Deezer

Wael Kfoury

NATIONALITY: Lebanese

567,000 subscribers on YouTube Kfoury got his break on the famous Lebanese talent show “Studio El Fan” in 1992. Today he is known among his fans as “The King of Romance.” During his more than 25-year career, Kfoury has appeared in ads for Pepsi and LG. He served as a judge on the television show “Arab Idol” from 2014 to 2016.

In 2020, Kfoury was among the 50 most-streamed Arab singers on Anghami. He has over 567,000 subscribers on YouTube, with his videos viewed more than 157 million times as of March 19, 2021.

Kfoury had seven million followers across Facebook, Twitter, and Instagram as of the end of 2020.

Wegz

NATIONALITY: Egyptian

#2 most-streamed Arab artist in MENA on Deezer Rapper Ahmed Ali “Wegz” began his career in 2017.

His 2019 song “Bazeet” was sampled in an ad for Molto Egypt, and he has appeared in ads for Orange Egypt and ridehailing app Halan.

In 2020, Wegz was the second most-streamed Arab artist in MENA on Deezer and the eighth most-streamed Arab singer on Anghami. He has nearly 1.5 million subscribers on YouTube, with his videos viewed more than 202 million times as of March 25, 2021.

F O R B E S M I D D L E E A S T.C O M

APRIL 2021

TAMERHOSNY/FACEBOOK; @WAELKFOURY/TWITTER; @WEGZOFFICIAL/FACEBOOK

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Actor and singer Hosny rose to fame in 2002 when the album “Free Mix 3” featuring him and Sherine Abdel-Wahab went viral. He became a Middle East brand ambassador for Chinese electronic company Xiaomi in 2020 and appeared in an ad for Zed Park. In 2021 he released a new album, “Khaleek Folazy,” and plans to release an app.

He has collaborated with international artists such as Snoop Dogg and Shaggy and was the first Arab artist to make his hand and footprint at TCL Chinese Theatre in Hollywood.

In 2020, Hosny was the fourth most-streamed Arab singer on Anghami and the fourth moststreamed Arab artist in MENA on Deezer. He has over 6.6 million subscribers on YouTube, with his videos viewed more than 2.1 billion times as of March 19, 2020. He had more than 40 million followers across Facebook, Twitter, and Instagram as of the end of 2020.

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Yara

NATIONALITY: Lebanese

NATIONALITY: Moroccan

1.3 million subscribers on YouTube

5.7 million subscribers on YouTube

Yara began her career in 1998 when she won the Lebanese music competition “Kass el-Nojoum.” She has since won the Lebanese award Murex d’Or three times. She is a UNICEF Regional Ambassador For MENA and frequently collaborates with Huawei Music. She became the first Lebanese female artist to reach 200 million views for one song on YouTube for her song “Ma Baaref.”

In 2020, Yara was among the top 50 most-streamed Arab singers on Anghami. She has over 1.3 million subscribers on YouTube, with her videos viewed more than 455 million times as of March 19, 2021. She had over 22 million followers across Facebook, Twitter, and Instagram as of the end of 2020.

Singer and rapper Bahaoui started his singing career in 2014. He collaborated with Moroccan singer Saad Lamjarred in February 2021 for the song “Lewjah Tani,” which was viewed over 95 million times on YouTube in three months. He performed at the international Mawazine festival in Morocco in 2019.

In 2020, Bahaoui was among the top 50 moststreamed artists in MENA on Deezer. He has nearly 5.7 million subscribers on YouTube, with his videos viewed more than 987 million times as of March 25, 2021. He had more than 10.4 million followers across Facebook and Instagram as of the end of 2020.

Ziad Bourji

NATIONALITY: Lebanese YARA IMAGE FROM SOURCE; @ZIADBOURJIII/TWITTER; @BAHAOUIZOUHAIR/FACEBOOK

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Zouhair Bahaoui

1.1 million subscribers on YouTube Singer, actor, and composer Bourji began his career in 1996 when he won gold in the Tarab song category on the Lebanese talent competition “Studio El Fan.” Since then, he has released four albums and more than 40 singles. In 2020 he starred in a movie, “Yom Eh Yom La2.” He has also composed songs for other artists such as Georges Wassouf, Elissa, Nancy Ajram, and Ragheb Alama.

In 2020, Bourji was among the 50 most-streamed Arab singers on Anghami. He has over 1.1 million subscribers on YouTube, with his videos viewed more than 439 million times as of March 19, 2021.

F O R B E S M I D D L E E A S T.C O M

APRIL 2021

INNOVATING SINCE 2010 75

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• THOUGHTS ON •

Music “ I think music in itself is healing. It’s an explosive expression of humanity.

It’s something we are all touched by. No matter what culture we’re from, everyone loves music.”

“Music is forever; music should grow and mature with you, following you right on up until you die. ”

Stevie Wonder

—Paul Simon “Music, in performance, is a type of sculpture. The air in the performance is sculpted into something.”

—Billy Joel “ Music can change the world because it can change people.”

—Frank Zappa “Music, at its essence, is what gives us memories.

And the longer a song has existed in our lives, the more memories we have of it.”

—Bono “ Music is the strongest form of magic.”

—Marilyn Manson “Music is a moral law. It gives soul to the universe, wings to the mind, flight to the imagination, and charm and gaiety to life and to everything.”

—Stevie Wonder “If you are a chef, no matter how good a chef you are, it’s not good cooking for yourself; the joy is in cooking for others - it’s the same with music.”

—Plato “Music is a higher revelation than all wisdom and philosophy.”

—Will.i.am

“You are the music while the music lasts.”

“Next to the Word of God, the noble art of music is the greatest treasure in the world.”

“True music must repeat the thought and inspirations of the people and the time.”

“Music is probably the only real magic I have encountered in my life.

There’s not some trick involved with it. It’s pure and it’s real. It moves, it heals, it communicates and does all these incredible things. ”

—T. S. Eliot

—Martin Luther

—George Gershwin

—Tom Petty

—Ludwig van Beethoven “Where words fail, music speaks.”

—Hans Christian Andersen

F O R B E S M I D D L E E A S T.C O M

Billy Joel

Paul Simon

APRIL 2021

STEVIE WONDER PHOTO BY A.RICARDO/SHUTTERSTOCK.COM; BILLY JOEL, DEBBY WONG/SHUTTERSTOCK.COM; PAUL SIMON, LEONARD ZHUKOVSKY / SHUTTERSTOCK.COM

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