Alwaleed the richest Arab: Forbes

Alwaleed the richest Arab: Forbes

April 17, 2013

DUBAI – Prince Alwaleed Bin Talal, Chairman of Kingdom Holding Company, once again topped the list of the World’s Richest Arabs announced by Forbes Middle East.

Amongst the world’s richest Arabs, the Kingdom took lead with 41 ranks, followed by Egypt, UAE, Kuwait, Lebanon, Morocco, Qatar, Jordan, Syria, Sudan and Oman.

Brazil-based banker Joseph Safra from Lebanon follows in second, with Mohammed Al-Amoudi from Saudi Arabia in third place. Mohammed Bin Issa Al-Jaber, also from Saudi Arabia, ranked fourth while Nassef Sawiris from Egypt came in 5th place.

While familiar business tycoons, philanthropists and entrepreneurial families continue to reside at the top of the wealth pyramid, the latest issue of Forbes Middle East breaks free from tradition with its ranking of the ‘The World’s Richest Arabs,’ including not only affluent individuals, but also entire families where the fruits of their labors result from joint effort.

In addition to showcasing eminent Arab billionaires across the world, this year, Forbes Middle East also highlights new Arab inspirations that are well on their way to becoming the billionaires of tomorrow recording a net worth of $100 million or more.

In fact, many of the newcomers have most likely already hit the billion dollar mark, when privately held assets are factored into the equation. However, in the interest of accuracy and given that personal wealth across the Arab world remains closely guarded, net worth for the purpose of this ranking was calculated based only on shares held in companies listed on stock markets across the Arab world. Nevertheless, Forbes Middle East acknowledges and celebrates the huge contributions that individuals and families with privately held assets make to society and economies across the globe.

Globally, the 2013 Forbes Billionaires list now boasts 1426 names, with an aggregate net worth of $5.4 trillion, up from $4.6 trillion in 2012. This year’s ranking flashes 210 new 10-figure fortunes. The number of women soared to 138 from 104 a year ago. Once again the US leads the list with 442 billionaires, followed by Asia pacific, (386), Europe (366), the Americas (129) and the Middle East & Africa (103).

Applauding the billionaires and their prowess, Forbes Middle East’s Editor-in-Chief, Khuloud Al Omian remarked, “Ethical upbringing, resilient family traditions, and collective progress underpinned by a desire to build strong foundations for future generations, are strong messages emanating from the success stories of every inspirational personality ranked on the Forbes Billionaires lists. This issue is indeed a global celebration of the courage, dedication and hard work that go into making any dream a reality.”

The latest issue of Forbes Middle East also showcases the accomplishments of known industrialists and the social responsibility of the world’s richest Arabs, demonstrated through their conviction and generosity in giving back to society. The cover story for Forbes Middle East, English features the motivating tale of devoted philanthropist and businesswoman Camilla Al-Fayed, daughter of Egyptian business tycoon, Mohammed Al-Fayed, while Lebanon’s former prime minister and telecom magnate, Najib Mikati, shares his hopes for the future of his country.

But of course, the issue would not be complete without a glimpse of the top individuals from the Forbes global billionaires list, as well as some of the top Indian billionaires. Forbes Middle East is the licensed Middle Eastern version to the world renowned Forbes magazine and extends the Forbes brand of journalism across the Arab world. Forbes Middle East’s distinctive editorial style attracts a readership community of billionaires, powerful Arab men and women, entrepreneurs, C-level executives, government officials and investors united by a belief in the spirit of free enterprise and entrepreneurial values.


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