Reports
Saudi and Emirates Dominate Arab Rich List
On a recent list of the world’s 50 richest Arabs compiled by Arabian Business, Saudi Prince Alwaleed bin Talal Al Saud, worth an estimated $...
On a recent list of the world’s 50 richest Arabs compiled by Arabian Business, Saudi Prince Alwaleed bin Talal Al Saud, worth an estimated $26 billion, was number one.
The list is dominated by 16 Saudis, with UAE nationals being the second largest group, closely followed by Kuwaitis with six people on the list. In total the top 50 have a combined wealth of $139.4 billion.
Eight UAE nationals appear on the list and account for $21.26 billion.
Abdulaziz Al Ghurair, founder of Mashreqbank, was the sixth wealthiest Arab on the list with $5.2 billion, up $1.2 billion from last year, as Mashreqbank has seen profits up about 25 per cent since last year.
At number nine was Mahdi Al-Tajir, with $4.3 billion up half a billion dollars from last year, whose business interests include Highland Spring water and the Park Tower Hotel.
The Futtaim brothers, Abdullah and Majed, rank 10 and 11, respectively. Abdullah, worth an estimated $3.8 billion has amassed his wealth from selling cars and Majed, with a wealth of about $3.6 billion is famous for his mega-malls and shopping centres, most notably the City Centre chain of malls.
Khalaf Al Habtoor, with $1.35 billion, is ranked 31 on the list. His conglomerate of businesses includes engineering, real estate, cars, hotels, leasing and publishing.
