The most richest arabs
Yes it’s that time of the year again – the publication of the Arabian Business Rich List. As always, it has been a mammoth effort compiling the wealth of the world’s fifty richest Arabs – the risers, the fallers and the newcomers to this exclusive club.
What is most striking this year – for the first time ever – is the reduction in the wealth of some of the super-rich. To make it big in our list this year, the question was not how much money you made – but how much money you lost. Most of our top ten has suffered considerable losses, beginning at the very top and HRH Prince Alwaleed – down to US$17.08bn. Arabian Business was granted exclusive access to the private wealth of Prince Alwaleed, and so has been able to come up with the most accurate figure ever published regarding his wealth.
However, despite his overall total being down nearly $4bn on 2007, he still tops the chart by some distance – he is in fact worth nearly twice as much as second placed Nasser Al Kharafi, who comes in at $9.6bn. The Kuwaiti billionaire has suffered, like many others, with the falls on the stock market, bringing him down over $2bn during the past twelve months.
This year’s list also features some significant changes – we have for the first time split the wealth of the Al Rajhi and Hariri families. Last year we placed the Saudi Al Rajhi family at over $20bn. However, on closer analysis it is clear that individual’s shareholdings within the bank are separate, and so the entries should be separate. With the fall in the bank’s share price this year, it means no member of the family appears in the list until Number 11 and Sulaiman Al Rajhi with $5.4bn.
The same is true with the Hariri family. Our analysis has shown that Saad and Bahaa Hariri are the two wealthiest family members, and both make the top 50 in their own right – though again their valuations are lowered because of a fall in land values.
Propping up the list is Mohammed Al Rahji with $1.1bn – the minimum required for entry into the top 50 – compared to last year, where $700m would have secured you a place on the rich list.
This list has been put together over a period of three months by a dedicated team of researchers. We have used all major news and wire services, and stock market listings for valuations – stock market valuations were made on December 2 2008.
As always, we should stress that this list is purely our assessment of the wealthiest Arabs. It has been published to celebrate the financial success of Arabs around the world – however, we apologize in advance to those individuals whose wealth we may have underestimated, overestimated, or overlooked entirely.
Notes on the 2008 Rich List
We have deliberately not included royalty, with the exception of Prince Alwaleed given that his wealth has been achieved through his business dealings.
The figures in this year’s list are assessments made of individual and family wealth based on available public information.
View more random threads:
- Sarkozy’s problem with ‘burqa’
- LN:-21-05-2009:-Car bomb blast leaves 41...
- Shah Rukh Khan scared by Shiv Senas reaction
- A house for Zardari !!!!
- President gives Rs1m each to Sarah and Naseem
- LN:-21st MAY:-Hunter cleared in toilet seat...
- Beware of Expired Products at Doce Bakers...
- Neil Armstrong Moon Landing Was Faked!!!
- Suo motu of ZARCO Exchange fraud
- A/H1N1 flu infection toll rises to 35 in...