Saudi Arabia, Egypt and UAE nationals dominate the list of the Arab world’s 100 richest people for 2013 released by Forbes Middle East today.
Amongst the world’s richest Arabs, Saudi took lead with 41 ranks, followed by Egypt, UAE, Kuwait, Lebanon, Morocco, Qatar, Jordan, Syria, Sudan and Oman.
Saudi Arabia’s Prince Alwaleed Bin Talal tops with a fortune of $20 billion as per Forbes calculations. But Alwaleed claims that his fortune is worth $29.6 billion.
Brazil-based banker Joseph Safra from Lebanon follows in second with a net worth of $15.9 billion, with Mohammed Al Amoudi from Saudi Arabia, in third place with a net worth of $13.5 billion. Mohammed Bin Issa Al Jaber, also from Saudi Arabia, ranked 4th with a net worth of $7 billion while Nassef Sawiris from Egypt came in 5th place with a net worth of $6.5 billion.
In fact, many of the newcomers have most likely already hit the billion dollar mark, when privately held assets are factored into the equation. However, in the interest of accuracy and given that personal wealth across the Arab world remains closely guarded, net worth for the purpose of this ranking was calculated based only on shares held in companies listed on stock markets across the Arab world. Nevertheless, Forbes Middle East acknowledges and celebrates the huge contributions that individuals and families with privately held assets make to society and economies across the globe.
Globally, the 2013 Forbes Billionaires list now boasts 1,426 names, with an aggregate net worth of $5.4 trillion, up from $4.6 trillion in 2012. This year’s ranking flashes 210 new ten-figure fortunes. The number of women soared to 138 from 104 a year ago. Once again the U.S. leads the list with 442 billionaires, followed by Asia pacific, (386), Europe (366), the Americas (129) and the Middle East & Africa (103).
Forbes Middle East’s Editor-in-Chief, Khuloud Al Omian, said: “Ethical upbringing, resilient family traditions, and collective progress underpinned by a desire to build strong foundations for future generations, are strong messages emanating from the success stories of every inspirational personality ranked on the FORBES Billionaires lists. This issue is indeed a global celebration of the courage, dedication and hard work that go into making any dream a reality.”