Saudi Arabia, Japan strengthen cultural collaboration with new MoU    Slovak president meets Saudi delegation to bolster trade and investment ties    Civil Defense warns of thunderstorms across Saudi Arabia until Tuesday    Saudi defense minister meets with Swedish state secretary    Navigating healthcare's future: Solutions for a sustainable system    Sixth foreign tourist dies of suspected methanol poisoning in Laos    Hungary's Orbán vows to ignore war crimes arrest warrant for Netanyahu    Russia gives North Korea million barrels of oil, breaking sanctions: report    Al Khaleej qualifies for Asian Men's Club League Handball Championship final    Katy Perry v Katie Perry: Singer wins right to use name in Australia    Trump picks Pam Bondi as attorney general after Matt Gaetz withdraws    Al-Jasser: Saudi Arabia to expand rail network to over 8,000 km    OMODA&JAECOO: Unstoppable global cumulative sales over 360,000 units    Al Hilal doesn't need extra support to bring new players, CEO says    Saudi Arabia sees 73.7% rise in investment licenses in Q3 2024    Rafael Nadal: Farewell to the 'King of Clay'    Indonesia shocks Saudi Arabia with 2-0 victory in AFC Asian Qualifiers    Sitting too much linked to heart disease –– even if you work out    GASTAT report: 45.1% of Saudis are overweight    Denmark's Victoria Kjær Theilvig wins Miss Universe 2024    Order vs. Morality: Lessons from New York's 1977 Blackout    India puts blockbuster Pakistani film on hold    The Vikings and the Islamic world    Filipino pilgrim's incredible evolution from an enemy of Islam to its staunch advocate    Exotic Taif Roses Simulation Performed at Taif Rose Festival    Asian shares mixed Tuesday    Weather Forecast for Tuesday    Saudi Tourism Authority Participates in Arabian Travel Market Exhibition in Dubai    Minister of Industry Announces 50 Investment Opportunities Worth over SAR 96 Billion in Machinery, Equipment Sector    HRH Crown Prince Offers Condolences to Crown Prince of Kuwait on Death of Sheikh Fawaz Salman Abdullah Al-Ali Al-Malek Al-Sabah    HRH Crown Prince Congratulates Santiago Peña on Winning Presidential Election in Paraguay    SDAIA Launches 1st Phase of 'Elevate Program' to Train 1,000 Women on Data, AI    41 Saudi Citizens and 171 Others from Brotherly and Friendly Countries Arrive in Saudi Arabia from Sudan    Saudi Arabia Hosts 1st Meeting of Arab Authorities Controlling Medicines    General Directorate of Narcotics Control Foils Attempt to Smuggle over 5 Million Amphetamine Pills    NAVI Javelins Crowned as Champions of Women's Counter-Strike: Global Offensive (CS:GO) Competitions    Saudi Karate Team Wins Four Medals in World Youth League Championship    Third Edition of FIFA Forward Program Kicks off in Riyadh    Evacuated from Sudan, 187 Nationals from Several Countries Arrive in Jeddah    SPA Documents Thajjud Prayer at Prophet's Mosque in Madinah    SFDA Recommends to Test Blood Sugar at Home Two or Three Hours after Meals    SFDA Offers Various Recommendations for Safe Food Frying    SFDA Provides Five Tips for Using Home Blood Pressure Monitor    SFDA: Instant Soup Contains Large Amounts of Salt    Mawani: New shipping service to connect Jubail Commercial Port to 11 global ports    Custodian of the Two Holy Mosques Delivers Speech to Pilgrims, Citizens, Residents and Muslims around the World    Sheikh Al-Issa in Arafah's Sermon: Allaah Blessed You by Making It Easy for You to Carry out This Obligation. Thus, Ensure Following the Guidance of Your Prophet    Custodian of the Two Holy Mosques addresses citizens and all Muslims on the occasion of the Holy month of Ramadan    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



30 of world's 50 wealthiest Arabs are Saudis
Published in The Saudi Gazette on 19 - 12 - 2011

Saudi Arabia has once again topped the Middle East for its super-rich residents, cornering 60 percent on the Arabian Business Rich List 2011 published Sunday.
Thirty of the world's 50 wealthiest Arabs are Saudis.
Prince Alwaleed Bin Talal Al Saud for the eighth consecutive year topped the List with a fortune of $21.3 billion, as overall wealth of the world's 50 wealthiest Arabs rose nearly 5 percent to $257 billion, despite global economic gloom and a year of unprecedented popular unrest in parts of the Middle East.
At No.2 is the founder of MBI Group, Mohammed Al Jaber, with $12.6 billion in the bank.
The UAE got only four on the list and Qatar just three.
Kuwait managed to get three on the list while Egypt just one.
Saudi Arabia's Olayan family, who deals mainly in banking and finance, retained third position with an estimated net worth of $12.4 billion, up from $11.9 billion a year ago. Issam Alzahid, also from Saudi Arabia, jumped to fourth position this year, ranking 22nd in 2010, after he saw his wealth more than double to $10.7 billion from $4.3 billion. Alzahid is the chairman of Alzahid Group of Companies, which deals in construction and industries.
Saudi energy tycoon Mohammad Al Amoudi fell one place to fifth position but still added 4 percent to his net worth, which now stands at $10.4 billion.
Kuwait's Al Kharafi family, which trades mainly in real estate and retail, maintained sixth spot at $8.7 billion, up from $8.2 billion a year ago.
The Bukhamseen family, also from Kuwait, shot up to seventh place from rank 25, adding $3.25 billion to its net worth to a total $7.25 billion.
Saudi's Binladin family, active mainly in construction and industries, fell to eighth position after its wealth dropped about 26 percent to $7.25 in 2011, the biggest decline of any list entry.
Ranked ninth, Saudi Arabia's Jeddah-based Bugshan family, who deals in businesses including automobiles, real estate and electronics, saw its wealth unchanged at about $7 billion.
At tenth place is Said Khoury from Palistine at $6.52 billion, who is in the construction and industry business.
Just one Bahraini family, the Kanoo family, made it the Arabian Business Rich List 2011 at the 14th place with $6 billion in wealth.
Across the region, which sits on some of the world's largest oil reserves, there are 4,490 so-called ultra-high-net-worth individuals, compared with 62,960 in North America and 54,325 in Europe, Wealth-X said last November.
Private banks and wealth management firms have been quick to tap into the market, with a number of finance houses shifting their focus to wealth management following the credit crisis. .


Clic here to read the story from its source.