CAIRO - Famous Arab and Kuwaiti billionaire Nasser Al-Kharafi, also head of the richest family in Kuwait, died on Sunday in Cairo from a heart attack, pan-Arab Al-Arabiya TV reported.

Al-Kharafi, 67, was the founder and head of the Kuwaiti family-owned The Kharafi Group. Established in 1976, the group has stakes in several companies in the Gulf nation and has business operations in more than 10 foreign countries.

According to Forbes magazine, the late businessman was ranked 77th in the magazine's 2011 list for the world's richest people with an estimated wealth of $10 billion.

Al-Kharafi is the brother of Kuwait's parliament speaker Jassim Al-Kharafi.