The combined wealth of the 50 richest Arabs came in at US
$255.86 billion. The average wealth of the top 50 now stands at US $5.11
billion.
Saudi Arabia's Prince Alwaleed Bin Talal Bin Abdulaziz Al
Saud has topped the 2014 Arabian Business Rich List with a personal fortune of
US $28.1 billion, in a new survey. The prince, who chairs Kingdom Holding, saw
his wealth slip from US $31.2 billion last year, following a 20% fall in the
company’s share price over the past year. However the magazine noted that his
privately held assets, notably his real estate and media interests, had
performed strongly, reducing the impact of the fall in Kingdom Holding shares.
It was the 11th year in succession that the prince has taken the number one
slot on the list. In addition to having significant stakes in Four Seasons,
FRHI and Mövenpick, Alwaleed owns or part-owns a number of well-known hotels
around the world, including Four Seasons Hotel George V in Paris, Plaza Hotel
in New York and Savoy Hotel in London.
The Saudi-based Olayan family placed second on US $12
billion, with Brazil based Joseph Safra third on US $11.9 billion. Egypt’s
Sawiris family was ranked fourth with US $11.3 billion, one place ahead of
Saudi Arabia’s Issam Al Zahid on US $11.2 billion. Damac chairman Hussain
Sajwani made his first ever appearance on the list, ranked 22nd with US $4
billion. The top 50 was propped up by Morocco’s Anas Sefrioui with US $1.5
billion.
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