Prince Alwaleed Ranked Among Top 20 in 2010 Forbes Billionaires List
Prince Alwaleed Richest Muslim & Arab by An Increase of 46%
Prince Alwaleed’s Net Worth Increased to $19.4billion
HRH Prince Alwaleed bin Talal bin Abdulaziz Alsaud, Chairman of Kingdom Holding Company, has been featured in Forbes magazine’s annual list of richest people for 11 consecutive years. The Prince was ranked 19 in the 2010 Forbes Billionaires list and still remains the wealthiest Muslim and Arab. Forbes listed the richest people who created their wealth through the fruit of their hard work. Prince Alwaleed continues to be the richest Muslim and Arab by an increase of 46% with a net worth of $19.4billion from $13.3billion last year.
Forbes magazine started its annual list of the richest people in the world 24 years ago to monitor the wealth of the richest each year. This year’s ratings of the world’s super-rich come after a period of global economic uncertainty. Yet, despite the economic slumps the world economy witnessed, which effects still persists until today, Prince Alwaleed managed to maintain the relative stability of Kingdom Holding Company’s portfolio. Economic experts predict that the reason for this is that the Prince’s investments are not focused in one field and instead cover all aspects of life. His successful strategy in long term investment has also paid off handsomely, which has earned him a global name in the world of business.
HRH is known for his precision for exploring new and potential business opportunities and ventures in synchronization with the direction and fluctuations of the economic climate. Consequently, KHC was listed on Tadawul in 2007 and Prince Alwaleed who owns 95% of the Company has been involved in the creation of a diversified long term investments portfolio of strategic stakes in well-known companies locally and around the world, in multiple sectors.
KHC is pursuing the development of its two real estate projects in Jeddah and Riyadh, with the inauguration of the two colossal projects of Kingdom City in Jeddah and Kingdom Tower in Jeddah at the “Towards the First World” architectural exhibition that was held in Jeddah, under the auspices of the Custodian of the Two Holy Mosques, King Abdullah in October 2008.
Furthermore, Prince Alwaleed’s unique progressive thinking and active social network with global leaders, decision makers and business people has firmly placed His Highness and Kingdom Holding on the world business map. Moreover, the Prince is active in social responsibility projects through significant local and international donations made by Alwaleed Bin Talal’s philanthropic and humanitarian foundations span all the continents. HRH was acknowledged for his active philanthropy and was awarded the Special Award for Philanthropy by Arabian Business during the Arabian Business Saudi Achievement Awards event in 2007. In addition, the Prince is an advocate for the promotion of East-West cultural and religious dialogue for tolerance and understanding in line with the initiative of the Custodian of the Two Holy Mosques King Abdullah. In recognition of this, Time magazine listed Prince Alwaleed on the Time 100 issue and among the 12 Power Givers around the world for raising the profile of Islamic history and culture around the world in 2007.
Prince Alwaleed’s recognitions span over a decade and the most recent include: HRH being featured in Elan magazine’s 2009 list of Top Entrepreneurs of the Year, the Prince topped Institutional Investor magazine’s 2009 list of the 12 of the Middle East’s Most Prominent and Influential Financiers, His Highness topped Arabian Business Magazine’s 2009 50 Richest Arabs List, also the Prince was number one in Arabian Business Magazine’s 50 Richest Saudi List, 2009, His Highness was included in the 2009 Forbes World’s Powerful Billionaires list, in the 25 People Who will Affect Your Finances 2009 list in U.S News magazine, named the top single investor in Saudi Arabia according to Al Jazeerah newspaper that named investors who hold the most stakes in local companies as the Prince’s 95% share in Kingdom Holding Company makes him the largest individual investor. Also, the Prince was ranked one of the top 25 billionaires in the 2009 Forbes Billionaires list, in 2008, His Highness was ranked the largest private investor on the Saudi stock exchange, Arabian Business ranked HRH number one in their list of 100 Most Powerful Arabs for the fourth year running. Also in 2008, Institutional Investor magazine listed Prince Alwaleed on its first-ever ranking of the most-powerful figures in finance, European Business magazine selected Prince Alwaleed as the number one Richest Arab in the World on the list of The World's Richest Arabs, Zahrat Al-Khaleej magazine chose Prince Alwaleed Entertainment Personality of the Year according to its annual poll, The Times newspaper ranked Prince Alwaleed number five on the “25 Shaping Tomorrow’s World of Middle East Business” list, Forbes magazine ranked Prince Alwaleed number 1 on the Middle East’s 20 Richest People List, Institutional Investor magazine listed Prince Alwaleed on their 40th anniversary issue on the list of the World's Most Powerful & Influential people in the last 40 years and Arabian Business magazine chose Prince Alwaleed on the Top of the 50 Richest Arabs List, Almaal wal Aalam magazine’s poll voted Prince Alwaleed Economic Personality of the Year in the Arab World and in 2005 Prince Alwaleed's ranking in Fortune Magazine's 2005 list of Asia's 25 Most Powerful.