Arabian Business Rich List 2012: Money talks


  • Share via facebook
  • Tweet this
  • Bookmark and Share

You may have heard the saying “the rich get richer” and in every other year that we have published the list — bar one — that has certainly been the case. However, it was a close call in 2012. The combined largesse of the planet’s wealthiest Arabs amounts to $257.21bn this year, a sliver above 2011’s $256.67bn. The only other time we have seen a year-on-year decline was in 2008, the first year of the global economic recession.

See the full list of the world's 50 richest Arabs here.

The rise would undoubtedly have become a drop if it weren’t for the efforts of the top player on the list. For the ninth year running, Prince Alwaleed Bin Talal Al Saud is the Arab world’s richest man. This year, canny investments have seen his Kingdom Holding Company’s share price sent sky-high, and the prince has seen his wealth rise by a whopping 22 percent.

Elsewhere, Saudi Arabia’s Olayan family rises to second place, from third last year, and Mohammed Al Amoudi rises to third, from fifth place in 2012. Once again, Saudi Arabia plays host to the largest number of entries on the list, helped not only by its obvious oil wealth but also by virtue of the fact that the kingdom is by far the biggest economy in the Arab world. Even so, only 23 entries on the list hailed from Saudi Arabia, compared to 30 last year.

Some previous entries have been dropped from this year's Rich List, for various reasons, including freezing of assets, stepping down from executive positions or the relinquishing of key roles from organisations, which has made it increasingly difficult to accurately ascertain their wealth.

Others not included previously have been added either because their net worth has obviously increased, or by virtue of enlarging the group to include prominent figures of Arab descent that reside abroad. We’ve also decided to group certain individual family members who are part of the same business. This is particularly relevant where we look at merchant and family businesses and scions of trading houses, and it also explains why our highest new entry — the Sawiris family — are placed so highly in fourth. Previously, the Sawiris clan were considered separately.

And if you’re thinking that you can make the grade next year, then you’re going to need to work hard. The lowest entry on our list, Iraq’s Namir Al Akabi, is sitting on a cool $2bn. So who made the cut?

Related:
Topics
Join the Discussion

Disclaimer:The view expressed here by our readers are not necessarily shared by Arabian Business, its employees, sponsors or its advertisers.

Please post responsibly. Commenter Rules

Posted by: Jeff

Good to see a arab rich list and better yet to see a Indian rich list in the gulf countries
Its definitely inspiring to many Indians who have started business there
cheers
Jeff

Posted by: Amina

WOW she is one the richest? I take pretty any day, thank GOD!

Enter the words above: Enter the numbers you hear:

All comments are subject to approval before appearing

Further reading

Features & Analysis
Building a BIZness: Q&A with Hazel Jackson

Building a BIZness: Q&A with Hazel Jackson

Since landing in Dubai in the 1990s, Hazel Jackson has built...

Smoke-free Dubai - the big debate

Smoke-free Dubai - the big debate

Will the emirate ever be smoke free? We spark up the conversation...

5
Mentoring matters: Mowgli Q&A

Mentoring matters: Mowgli Q&A

Kathleen Bury, CEO of mentoring foundation Mowgli, on why mentoring...

Most Popular
Most Discussed