The world’s 50 richest Arabs saw their combined wealth rise just 0.2 percent over the past 12 months, according the latest Arabian Business Rich List.
The marginal increase takes their total wealth to US$257.2bn, compared to US$256.67bn, reflecting the tough global economic climate.
Arabian Business editor Ed Attwood said: “Looking at this year’s figures, were it not for the huge rise in Prince Alwaleed’s fortune, the world’s richest Arabs would have seen their combined wealth sharply decline.”
HRH Prince Alwaleed bin Talal topped the 2012 Rich List for the ninth successive year, with his wealth placed at US$25.9bn - a huge jump from last year’s figure of $21.3bn. Kingdom Holding, which he has a 95 percent stake in, saw its shares climb by 147 percent in the 12 months to December 1 this year.
Second place on the list went to the Olayan family, with US$12.9bn, while Mohammed Al Amoudi took third slot with US$11.5bn.
The list features 15 new entries, while the entry level was $2bn - the list being propped up by Iraq’s Namir Al Akabi.