While familiar business tycoons, philanthropists and entrepreneurial families continue to reside at the top of the wealth pyramid, the latest issue of Forbes Middle East breaks free from traditionwith its ranking of the ‘The World’s Richest Arabs,’ including not only affluent individuals, but also entire families where the fruits of their labors result from joint effort.In addition to showcasing eminent Arab billionaires across the world,this year, Forbes Middle East also highlights new Arab inspirations that are well on their way to becoming the billionairesof tomorrow recording a net worth of $100 million or more.
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.
Amongst the world’s richest Arabs,KSA took lead with 41 ranks, followed by Egypt, UAE, Kuwait, Lebanon, Morocco, Qatar, Jordan, Syria, Sudan and Oman. Proudly holding the first position once againthis year is Prince Alwaleed Bin Talal Alsaud, from KSA, with a fortune of $20 billion as per Forbes calculations. Brazil-based banker Joseph Safra from Lebanon follows in second with a net worth of $15.9 billion,with Mohammed Al Amoudi from KSA, in third place with a net worth of $13.5 billion. Mohammed Bin Issa Al Jaber, also from KSA, ranked 4th with a net worth of $7 billion whileNassefSawiris from Egypt came in 5th place with a net worth of $6.5 billion.
Globally, the 2013 FORBES Billionaires list now boasts 1426 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).
Applauding the billionaires and their prowess, Forbes Middle East’s Editor-in-Chief, Khuloud Al Omian remarks, “Ethical upbringing, resilient family traditions, and collective progress underpinned by a desire to build strong foundationsfor future generations,are strong messages emanating from the success stories of every inspirational personality ranked on the FORBES Billionaires lists. Thisissueis indeed a global celebration of the courage, dedication and hard work that go into making any dream a reality.”
The latest issue of Forbes Middle East also showcases the accomplishments of known industrialists and the social responsibility of the world’s richest Arabs, demonstrated through their conviction and generosity in giving back to society.The cover story for Forbes Middle East, English features the motivating tale of devoted philanthropist and businesswoman Camilla Al Fayed, daughter of Egyptian business tycoon, Mohammed Al Fayed, while Lebanon’s former prime minister and telecom magnate, NajibMikati, shares his hopes for the future of his country. But of course, the issue would not be complete without a glimpse of the top individuals from the Forbes global billionaires list, as well as some of the top Indian billionaires.
The Forbes Middle East team’s superlative effort in highlightingenterprising success and philanthropic dedication aims to inspirethe Arab world to reach itspotential.