Apr 182016
 

Richest Arabs

Arab billionaires across the world saw their net worth drop by 31.3 per cent from a year ago, according to the latest rich list released by Forbes Middle East.
The annual ranking found that aggregate net worth was down $29.9bn from a year ago to $95.5bn. Out of a total of 32 billionaires, 12 dropped off the list, although five new ones were added.

Saudi billionaire Prince Alwaleed remains the wealthiest Arab in the world, even though his net worth fell by more than 20 per cent from a year ago.

The list also found that Lebanon has the maximum number of billionaires at seven while Saudi billionaires are the richest with a combined net worth of $34.6bn.

The United Arab Emirates’ six billionaires are worth $19.7bn while Egypt also has six billionaires whose net worth amounts to $14.2bn.

Along with the individual billionaires, Forbes Middle East also published a list of 15 billionaire families from the region.

Saudi Arabia topped the list, with 12 of the richest families.

Nine out of the 15 families made a fortune owning licensing rights to foreign brands, mostly American, the report said.

World’s top 10 richest Arabs in 2016

1. Prince Alwaleed Bin Talal Alsaud

Net worth in 2016: $17.3bn
Net worth in 2015: $22.6bn
Age: 61
Source of wealth: Investments
Country: Saudi Arabia

2. Mohammed Al Amoudi

Net worth in 2016: $8.3bn
Net worth in 2015: $10.8bn
Age: 69
Source of wealth: Oil, diversified
Country: Saudi Arabia

3. Majid Al Futtaim

Net worth in 2016: $5bn
Net worth in 2015: $6.2bn
Source of wealth: Real estate, retail
Country: United Arab Emirates

4. Abdulla bin Ahmad Al Ghurair & family

Net worth in 2016: $4.9bn
Net worth in 2015: $6.4bn
Source of wealth: Diversified
Country: United Arab Emirates

5. Nassef Sawiris

Net worth in 2016: $3.7bn
Net worth in 2015: $6.3bn
Age: 55
Source of wealth: Construction, chemicals
Country: Egypt

6. Prince Sultan bin Mohammed bin Saud Al Kabeer

Net worth in 2016: $3.4bn
Net worth in 2015: $4.1bn
Age: 62
Source of wealth: Dairy farms
Country: Saudi Arabia

6. Suhail Salim Bahwan

Net worth in 2016: $3.4bn
Net worth in 2015: Not ranked
Source of wealth: Diversified
Country: Oman

8. Hussain Sajwani

Net worth in 2016: $3.2bn
Net worth in 2015: Not ranked
Age: 63
Source of wealth: Real estate
Country: United Arab Emirates

9. Abdulla Al Futtaim

Net worth in 2016: $3.1bn
Net worth in 2015: $3.2bn
Source of wealth: Auto dealers, investments
Country: United Arab Emirates

10. Issad Rebrab

Net worth: $3.1bn
Net worth in 2015: $3.1bn
Age: 72
Source of wealth: Food
Country: Algeria

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