Mouawad inherited the family's eponymous high-end jewelry business that his grandfather founded in Beirut in 1890. He turned over management of the business to his sons Fred, Alain, and Pascal in 2010. The company boasts one of the world's most dazzling gem collections, including Dynasty, a 51.12 carat Russian diamond estimated at nearly $10 million. Mouawad also owns real estate, including hotels in Beirut. He developed luxury residences on Reef Island, a man-made island in Bahrain.