Bin Talal remains richest Arab in 2011: report

Saudi and Egypt top Forbes Middle East list

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Saudi billionaire al-Waleed bin Talal kept his place as the world’s richest Arab in the Forbes Middle East list for 2011 even though his place receded a little among the richest of the world.

Despite the effect the global financial crisis had on his business, bin Talal’s wealth in 2011 is estimated at $19.6 billion compared to $19.4 billion in 2010. This makes him the world’s 26th richest.

The list of the Arab World’s richest is still basically occupied by businessmen from Saudi Arabia, Egypt, Lebanon, UAE and Kuwait. Saudi and Egypt, however, got the biggest share with eight people from each country in the list.

New Egyptian names joined the 2011 list such as Mansour brothers: Yassin, Mohammed and Youssef, the second being the richest of the three with a fortune estimated at $2 billion which ranked him number 595 in the world and number 17 in the Arab world.

Egyptian business tycoon Nassif Sawiris came on top of the Egyptian rich with $5.6 billion, which made him the seventh in the Arab world and number 182 in the world. Mohammed al-Fayed and his family joined the list for the first time as they ranked number 993 in the world and number 32 in the Arab world with $1.2 billion.

Lebanon, UAE, Kuwait

Lebanon came second in the list of Arab richest with the wealth mainly owned by two families: al-Mikati family, represented by Prime Minister Najuib Mikati who ranked 10th in the Arab world and 408th in the world with a wealth of $2.8 billion, and Hariri family, represented by the four brothers, the richest of whom is Bahaa al-Hariri who got number 459 in the world and 13 in the Arab world with $2.5 billion.

UAE came third with four billionaires topped by Abdul Aziz al-Ghurair and his family, who ranked 420 in the world and the 12th in the Arab world with $2.7 billion.

Kuwait came fourth with three billionaires, the first of them is Nasser al-Kharafi and his family who got number 77 in the world and the fourth in the Arab world with a wealth estimated at $10.4 billion.

According to Forbes Middle East editor-in-chief Kholoud al-Emian, the list does not include Arabs living abroad or holding dual citizenships like Brazilian-Lebanese Joseph Safra, $12.3 billion, Russian-Jordanian Ziad al-Manasir with $2.1 billion and British-Iraqi Nazmi Ojeeh with $1.8 billion.

(Translated from Arabic by Sonia Farid)