Prince Alwaleed tops Saudi Rich List with $20.4bn

Better than anyone could have expected, Saudi Arabia’s economy just keeps rising. Latest forecasts suggests that growth this year will be 6.9 percent, making it the second best in the region.

With the government increasing spending by 35 percent to $130bn, there is much to celebrate in the kingdom. And no more so than the vast wealth of several individuals and families, who once again contribute to a huge chunk of global Arab wealth.

Topping our Saudi Rich List is HRH Prince Alwaleed, the founder of Kingdom Holding, with a staggering $20.4bn. His figure is nearly double that of MBI boss Mohamed Al Jaber, on $12.5bn.

But what is most interesting about our list is that every entry is in the billions — the lowest rank entry, 30th placed Abdul Mohsen Al Hokair, still commands an impressive fortune of $2.7bn. Later this year, we will be publishing our global Arab Rich List.

If the Saudi entries were included based on last year’s figures, they would account for an incredible 38 places in the top 50 alone. And judging by the rising oil price and economic boom, all the indications are that the kingdom’s richest 30 will all perform one thing in the next year: get even richer.

Click here to view the Saudi's Richest 30 List 2011