DOHA: Qatar is the richest Arab country but, ironical as it may seem, none of its citizens has made it to a list of the world’s 50 wealthiest Arabs released recently by Arabianbusiness.com.
The coveted list is dominated by business magnates from the neighbouring Saudi Arabia, the Arab world’s largest economy. Some 23 of the 50 Arab dollar-billionaires are from that country alone.
The UAE is represented on what is the Arab Billionaires’ Club by three members, and so is Kuwait. Surprisingly, even Bahrain finds a place on the list with the famed Kanoo business family grabbing the 14th spot with $6.25bn worth of assets.
On top of the list is Prince Alwaleed bin Talal Al Saud of Saudi Arabia, whose assets have been put at close to $26bn, followed by the Olayan family, also from Saudi Arabia. It is interesting to note that the assets of the Olayan family ($12.90bn) are worth a little less than half of Alwaleed bin Talal’s. The third spot also goes to a Saudi — Mohamed Al Amoudi, with assets of $11.50bn. On the fifth spot is another Saudi business baron, Issam Al Zahid, with wealth of $11bn, whereas Kuwait’s Kharafi family gets the sixth spot with assets running into $8.60bn.
Saudi-born Mohamed Al Jaber, based in France and engaged in the travel and hospitality businesses, finds the 10th place on the list with assets of $7bn.
UAE’s Abdulaziz Al Ghurair, a banking and finance tycoon, has made it to the Arab Dollar Billionaires’ Club on the 12th spot with assets of $6.40bn.
There are at least two Palestinians in the elite club, with Toufic Aboukhater, with assets of $6bn, ranking 16th. Egypt, Lebanon and Jordan are the other countries represented. Lebanese politician-cum-business baron Saad Hariri’s fortunes have been estimated at $3.70bn and he ranks 22nd on the list, a spot above his Geneva-based banking and finance magnate brother, Bahaa.
The Peninsula
