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Yes it’s that time of the year again – the publication of the Arabian Business Rich List. As always, it has been a mammoth effort compiling the wealth of the world’s fifty richest Arabs – the risers, the fallers and the newcomers to this exclusive club.
What is most striking this year – for the first time ever – is the reduction in the wealth of some of the super-rich. To make it big in our list this year, the question was not how much money you made – but how much money you lost. Most of our top ten has suffered considerable losses, beginning at the very top and HRH Prince Alwaleed – down to US$17.08bn. Arabian Business was granted exclusive access to the private wealth of Prince Alwaleed, and so has been able to come up with the most accurate figure ever published regarding his wealth.
However, despite his overall total being down nearly $4bn on 2007, he still tops the chart by some distance – he is in fact worth nearly twice as much as second placed Nasser Al Kharafi, who comes in at $9.6bn. The Kuwaiti billionaire has suffered, like many others, with the falls on the stock market, bringing him down over $2bn during the past twelve months.
This year’s list also features some significant changes – we have for the first time split the wealth of the Al Rajhi and Hariri families. Last year we placed the Saudi Al Rajhi family at over $20bn. However, on closer analysis it is clear that individual’s shareholdings within the bank are separate, and so the entries should be separate. With the fall in the bank’s share price this year, it means no member of the family appears in the list until Number 11 and Sulaiman Al Rajhi with $5.4bn.
The same is true with the Hariri family. Our analysis has shown that Saad and Bahaa Hariri are the two wealthiest family members, and both make the top 50 in their own right – though again their valuations are lowered because of a fall in land values.
Propping up the list is Mohammed Al Rahji with $1.1bn – the minimum required for entry into the top 50 – compared to last year, where $700m would have secured you a place on the rich list.
This list has been put together over a period of three months by a dedicated team of researchers. We have used all major news and wire services, and stock market listings for valuations – stock market valuations were made on December 2 2008.
As always, we should stress that this list is purely our assessment of the wealthiest Arabs. It has been published to celebrate the financial success of Arabs around the world – however, we apologize in advance to those individuals whose wealth we may have underestimated, overestimated, or overlooked entirely.
Notes on the 2008 Rich List
We have deliberately not included royalty, with the exception of Prince Alwaleed given that his wealth has been achieved through his business dealings.
The figures in this year’s list are assessments made of individual and family wealth based on available public information.
Researchers: Anil Bhoyrul, Andrew White, Soren Billing, Alex Delmar-Morgan, Claire Ferris-Lay, Tom Arnold, Edward Liamzon
READERS' COMMENTS
Posted by Hajar, Dubai, UAE on Thursday 12 November 2009 at 10:50 UAE time
Dear Jonathan,
It is indeed impressive to to know top gainers in financials. One doesn't earn riches/wealth to eat it all up. And we all will be gone and soil, doesn't mean we should stop breathing and make a nicer future for the coming generation. Those Achievers, I believe are winners in their lives, to get ahead use what Allah has given (Knowledge) and make best of it. I admire them not just for the wealth, but also for the chance they have taken in life to be in Top list. Can you do it?
Have a nice day
Posted by Faisal A. Mubaideen, Amman, Jordan on Friday 28 August 2009 at 15:01 UAE time
Salam Alikum, I am a Jordanian American, I am interested in setting up International none profit organization that will support Arab Students studying in Europe and USA. Many students drop out of college because of the high cost of living and studying. I need the support of good men and women to help me start this project. Please contact me at my email or my tel: +962 7760 96367 Thank you.
Posted by william b.starnes, cottage grove, U.S.A. on Saturday 25 July 2009 at 21:30 UAE time
I was wanting to know if any of these billionaires would be willing to donate money to help me and my family to better our lives,and help me start a business.
Thank you
William B.Starnes
Posted by steve Halliwell on Friday 24 July 2009 at 11:30 UAE time
i only came across this site after reading that a rich arab was about to buy in Portsmouth FC, listen if any of the top 100 want to buy a uk football club then i suggest Bradford City afc, they are in league 2 now but have a premiership stadium... they should not be were they are. another arab has bought into Notts county why? just contact the club its a bargain and an ex premier league club.
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