WHO IS MOHAMMAD SAFADI?
BEIRUT: Mohammad Safadi is a business tycoon and mainstay of Lebanese politics. He was elected to Parliament three times, representing his native Tripoli from 2000 till 2018. He was a Cabinet minister continuously from 2005 until 2014, holding the Finance, Economy and Trade, and Public Works and Transport portfolios. Safadi is a director of Stow Capital Partners Limited. He and the company are mentioned in the 2017 Paradise Papers, a set of 13.4 million leaked confidential documents relating to offshore investments. Solidere’s website states that Zaitunay Bay is owned and managed by Beirut Waterfront Development, a 50-50 joint venture between Stow Development Company, of which Safadi is the largest shareholder, and Solidere. The Guardian in 2006 named Safadi as “a key Saudi middleman.” It reported he was involved in the controversial Al-Yamamah arms deal through an anonymous offshore company, Poseidon. In its 2006 report, The Guardian said around 1 billion pounds (then around $1.8 billion) was ostensibly said to have gone through Poseidon. Safadi’s wife, Violette, is minister of state for the economic empowerment of women and youth in the current caretaker Cabinet.