Prince Alwaleed is wealthiest Arab according to Forbes’ annual list of billionaires
Saudi royal Prince Alwaleed bin Talal has been ranked as the Arab world’s wealthiest billionaire, according to a report published in US-based Forbes magazine.
According to figures verified by his private office Alwaleed’s fortune is estimated at US$21.3bn, making him the richest individual in the Middle East.
Alwaleed, chairman of Riyadh-based Kingdom Holdings, holds assets including stakes in Apple, Citigroup and the Four Seasons Hotels chain.
Other notable entries in the Forbes list hailing from the Middle East included oil and construction tycoon Mohammed Al Amoudi, valued at US$12.5bn and Mohamed Bin Issa Al Jaber, at US$7bn who a line of luxury and budget hotels in Europe and Egypt via JJW Hotels & Resorts.
The global list was topped by Mexican telecoms giant Carlos Slim and his family, whose wealth was valued by the magazine at US$69bn. Second and third place were taken by Microsoft chairman Bill Gates and Berkshire Hathaway boss Warren Buffet, whose assets were valued at US$61bn and US$44bn, respectively.
* Forbes magazine had originally published a different figure for Prince Alwaleed's estimated wealth, but Arabian Business has chosen to run the valuation provided by Prince Alwaleed's private office.