Uproar in Ghana after president unveils his own statue    Putin hails 'courageous' Trump after election win    Israel passes law to deport relatives of attackers, including citizens    Monkey mayhem in South Carolina after 43 primates escape research facility    Russian anti-war teenager faces five years in jail after failed appeal    SR 3.95 million fines for 3 employees of a company and 6-month jail for one for violating Capital Market Law    Qassim emir launches 52 health projects costing a total of SR456 million    BD and INS partner to elevate standards of infusion care in MENAT    Dubai Design Week launches its 10th edition, celebrating creativity and innovation    GASTAT: Passengers of public transport bus and train soar 176% and 33% respectively in 2023    Fakeeh Care Group reports 9M-2024 net profit of SR195.3 million, up 49% y-o-y driven by solid revenue growth and robust profitability    HRT does not impact life expectancy — UK health body    Liam Payne's body to be flown back to the UK    Suspect arrested for banking fraud totaling SR493 million as Nazaha pursues corruption charges    Arab leaders and heads of state congratulate US President-elect Donald Trump    Neymar suffers muscle tear, out for 4-6 weeks    Crown Prince hails Saudi medical team that performed world's first fully robotic heart transplant    Al Nassr secures 5-1 victory over Al Ain to edge closer to knockout stage    Al Ahli extends perfect start with 5-1 victory over Al Shorta    Mitrovic's hat-trick leads Al Hilal to 3-0 victory over Esteghlal    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    Muted Eid celebrations for millions of Nigerian Muslims    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.



Saudis lead Mideast super rich club
Published in The Saudi Gazette on 20 - 09 - 2012

JEDDAH – The Middle East's super rich community grew by 100 in the last year to 4,595 individuals with a combined wealth of $710 billion, according to a new global report published this week.
While the number of ultra high net worth (UHNW) individuals with a fortune over $30m increased, their total wealth decreased 1.3 percent to $710 billion, according to the “World Ultra Wealth Report 2012-2013” compiled by Singapore-based Wealth X consultancy firm.
Leading the pack was Saudi Arabian with 1,265 UHNW individuals, whose wealth totaled $230 billion. This was followed by the UAE, with 810 individuals with a combined value of $120 billion.
“Iraq recorded the fastest rate of UHNW population growth at 6.7 percent, followed by the UAE at 4.5 percent and Qatar at 3.4 percent. Syria saw the largest percentage reductions in UHNW population for the region,” the report said.
Within the UAE, the report showed there are 35 billionaires in the country each worth an average of $1.1 billion. The lowest tier of the UHNW group, represented by those worth $30 million to $49 million is the largest group, making up 45.7 percent of the total UHNW population in the Emirates.
As it prepares to host the FIFA World Cup in 2012, Qatar is home to 12 billionaires, each worth an average of $1.4 billion. While the number of UHNW individuals grew in Qatar by 3.4 percent, their total balance sheet decreased by 2.2 percent to $45 billion.
“The gloom in Europe may prove to be the drag on economic expansion in Africa and the Middle East through the reduced demand for oil and an increase in risk aversion amongst investors,” the report warned.
Globally, there are 2,160 billionaires, each worth an average of $2.9 billion each and controlling. This means the top 1.2 percent of the super rich club control 24 percent of the total fortune attributable to the ultra wealthy.
The highest number of super rich was still in North America, with 65,295 UHNW individuals worth $8,880 billion, followed by Europe with 53,440 UHNW individuals worth $6,950 billion and Asia with 42,895 UHNW individuals worth $6,250 billion. – SG


Clic here to read the story from its source.