Photos: Arabian Business Rich List 2010

The world's top 50 richest Arabs
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#1. HRH Prince Alwaleed Bin Talal Al Saud, Saudi Arabia ($20.4 bn)\nFor the seventh successive year, HRH Prince Alwaleed tops our annual rich list. Taking into account the latest market values of Kingdom Holding, and an appreciation in the value of many of his key assets, we now place a figure of $20.4bn on his total wealth. This figure has been verified by his private office\n
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#2. Mohamed Bin Issa Al Jaber, Saudi Arabia ($12 bn)\nAl Jaber heads MBI International Group which holds an asset value of around $12bn and boasts operations in Europe, the Middle East and the US\n(ITP Images)
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#3 The Olayan family, Saudi Arabia (11.9 bn)\nSmart investments across a range of sectors saw the family’s coffers bulge by some $4bn. The conglomerate owns more than 50 companies, with hefty stakes in various multinationals and blue-chip names \n(In Picture: Lubna Olayan)\n
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#9 The Al Ghurair family, UAE ($6.52 bn)\nAbdul Aziz Al Ghurair (pictured) is perhaps the most high-profile member of the Al Ghurair clan. He is CEO of Mashreq bank, the country’s fourth largest bank by assets, and was one of the founders of construction giant Emaar. Al Ghurair Group owns and manages Burjuman Mall in Dubai, as well as Al Reef Mall in the same city. Abdul Aziz’s brother Essa operates the second-largest flour milling company in the Middle East
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#10 The Alshaya family, Kuwait \n($6.5 bn)\nChairman of one of the region's leading business entities, the Alshaya Group, Mohammed Alshaya (pictured) oversees a wide range of interests including real estate, construction, hospitality, advertising and IT
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#12 The Kanoo family, Bahrain ($12 6.1bn) The Kanoo Group is one of the largest independent family owned holding companies in the Gulf region. The company’s joint venture division was established over 25 years ago and has been linked to high profile names such as Axa Insurance, Norwich Union Insurance, Maersk, BASF, Johnson Arabia, Freightworks, British Standards Institution, Infineum (Exxon/Shell), Halliburton, Akzo Nobel, Thales, and Amec\n(In picture: Mishal Kanoo)
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#26 The Gargash family, UAE ($3.71 bn)\nThe Gargash family’s interests are widespread and impressive: in the automobile world, it is the sole agent for Mercedes Benz in Dubai, through Gargash Enterprises. The family is also involved in electronics, real estate, insurance, industrial development and construction
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#27 Saad Hariri, Saudi Arabia ($3.7 bn)\n Saudi-born businessman, Saad Hariri holds hefty stakes in a number of large firms. Raised in Saudi Arabia, Saad managed part of his father’s business until 2005. Saad had been general manager of Saudi Oger, the family’s $9bn construction company\n
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#28. The Sawiris family, Egypt ($3.55 bn)\nOrascom Telecom, the group’s telecommunications arm, has expanded into one of the largest mobile phone operators in the world, with a presence in twelve countries, including Algeria, Pakistan, Canada and North Korea. Orascom Construction saw its third quarter profits rise to $147.6m, while it is expected to be involved in Qatar’s preparations for the 2022 World Cup (In Picture: Naguib Sawiris)
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#30. Faisal Al Ayyar, Kuwait ($3.4 bn)\nFaisal Al Ayyar has been with Kuwait Projects Company (Holding) since 1990, and has led the investment bank's growth. With more than $1.5bn in assets under its control or management, the bank’s core activities include financial services, media and telecoms, with interests in real estate, manufacturing, medical services, aviation and education
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#36. Nadhmi Auchi, Iraq ($3.18 bn)\nNadhmi Auchi is the founder of General Mediterranean Holdings, an international powerhouse with activities in banking and finance, real estate, construction, hotel and leisure, industrial, trading and pharmaceuticals, communications, IT and aviation. The group’s consolidated assets now exceed $4.2bn\n
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#40. Adel Aujan, Saudi Arabia ($2.9 bn)\nThe chairman of Aujan Industries has been aggressively growing his offerings to different markets. This month, Aujan announced that it would commence work on a $100m flagship resort on Paradise Island in Mozambique, where the company is one of the biggest overseas investors\n
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#41. The Al Zamil family, Saudi Arabia, ($2.8 bn)\nZamil Group Holding's growth spans diversified industrial and commercial interests, making its mark on everything from air-conditioning manufacturing to food processing, steel fabrication and travel services (In Picture: Abdul Rahman Al Zamil)
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#44. Ayman Hariri, Saudi Arabia ($2.41 bn)\nAyman Hariri is the second of the five children of Lebanon’s former prime minister, Rafik Hariri, to feature in this list. Ayman has made his mark on the telecoms sector.\nBut it’s in the field of property and real estate where he is now making waves. Ayman is now the deputy general manager and a board member of Saudi Oger
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#45. Issam Fares, Lebanon ($2.4 bn)\nNow 73, Issam Fares is the former deputy prime minister of Lebanon, as well as a multibillionaire entrepreneur. He operates the Houston, Texas based WEDGE Group
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#46. Bahaa Hariri, Saudi Arabia ($2.3 bn)\nBahaa is the eldest son of the late Rafik Hariri and the third Hariri to make it into our list. In March 2008, Bahaa left family-owned Saudi Oger, a construction, utility and telecommunications company, to launch his own property business, which he runs from his base in Geneva.\nHariri’s firm, Horizon Development, is in a partnership with Jordan’s government owned real estate developer to build a $5bn mini-city in the port of Aqaba on the Red Sea
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#47. Mohammad Shafik Gabr, Egypt ($2.1 bn)\nThe chairman of ARTOC Group for Investment & Development, Egyptian businessman, philanthropist and art collector Mohammad Shafik Gabr is renowned in elevated circles as a consummate networker \n
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#48. Abdul Mohsen Bin Abdul Aziz Al Hokair, Saudi Arabia ($2 bn)\nA true pioneer in the Saudi entertainment market, Abdul Mohsen Al Hokair is chairman of the Al Hokair Group, a company that has become synonymous with leisure in the kingdom
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#49. Ahmed and Hassan Heikal, Egypt ($1.78 bn)\nA former Goldman Sachs financier, Hassan (pictured) joined EFG-Hermes fifteen years ago and was elevated to the rank of CEO in 2005. Stanford-educated Ahmed was also an EFG-Hermes banker but left to start a private equity boutique, Citadel Capital, in 2004. The firm manages $4bn in assets across the MEA
Sun 19 Dec 2010 07:50 AM