Businessman Albert H. Nahmad is estimated to have amassed a fortune of $1.3 billion, according to the magazine’s most recent ranking. Albert H. Nahmad is a Panamanian-American billionaire businessman, known as the CEO and chairman of Watsco. He is recognized by Forbes among prominent foreign-born business leaders and wealthy immigrants in the United States. Background and CareerBorn in Panama, he grew up in Colón and the Canal Zone before moving to the United States for higher education. It features Albert H. Nahmad, an 85-year-old businessman from Colón, whose net worth the magazine estimates at $1.3 billion.