Saudi royal retains top spot as world\'s richest Arab
Saudi prince Al-Waleed Bin Talal al-Saud has retained his position as the richest Arab in the world, followed by the Ethiopian-Saudi Investor Mohammad Al Amoudi, according to the Forbes list of
Saudi Arabia and Lebanon contributed the highest number of billionaires, closely followed by Egypt, despite the recent political and economic turmoil.
Forbes Middle East\'s Editor-in-Chief Khuloud Al-Omian said: \"The motivation behind publishing this list is to deliver the powerful message, that behind these billions lay wealthy individuals who have fought long and hard, and given generously ... These success stories present lessons to be learned that money cannot buy, and serve as an inspiration to us all.\"
1. Saudi Prince Al-Waleed Bin Talal al-Saud - Net Worth $18 B
Saudi Arabian Prince Al-Waleed Bin Talal al-Saud retained his top position with a fortune of $18 billion despite a recent drop in wealth. A significant portion of his net earnings - about $10.7 billion is from a 95 percent stake in his Saudi-listed diversified investment company, Kingdom Holding Co, whose assets include shares in Apple, Citigroup and part of the Four Seasons Hotels.
2. Saudi Arabian Investor Mohammad Al Amoudi – Net Worth $12.5 B
An investor of Arabian-Ethiopian descent, Mohammad Al Amoudi started investing in Sweden in 1970s. He made his first fortune investing in construction business in Saudi Arabia. He recently expanded into agriculture in Ethiopia.
3. Saudi Banker Sulaiman al Rajhi and Family – Net Worth $5.9 B
Saudi Arabian businessman Sulaiman Al Rajhi became prosperous by cofounding one of the world’s largest Islamic banks, Al Rajhi Bank. Rajhi, who recently announced his plans to donate a portion of his wealth to charity, has 23 children.
4. Egyptian businessman Nassef Sawiris – Net Worth $5.1 B
Nassef Sawiris, who runs Orascom Construction Industries in Egypt, recently announced his decision to split its construction and fertilizer business.
5. Egyptian Businessman Naguib Sawiris – Net Worth $3.1 B
The eldest son of Egyptian billionaire Onsi Sawiris is the executive chairman of the telecommunications companies Wind Telecom and Orascom Telecom Holding.