By Staff writer
Saudi prince takes pole position for 10th consecutive year
Saudi Arabia’s Prince Alwaleed has topped the Arabian Business Rich List for the 10 successive year, with a personal fortune of $31.2bn.
The Kingdom Holding Company chairman saw his wealth rise by over 20 percent in the past twelve months, from $25.9bn. The figure – verified by his private office, reflects a series of strong performances and investments in the last year, most notably his $300m stake in Twitter, which rose in value by 200 percent when the company floated this year.
Alwaleed’s personal wealth for 2013 is more than twice that of second placed hotels magnate Mohamed Al Jaber. Financial statements seen by Arabian Business - and also verified by Al Jaber’s private office – put his total wealth at $12.662bn – nearly double last year’s figure of $7bn.
The Olayan family ($12.5bn), Mohammed Al Amoudi ($12bn) and Issam Al Zahid ($11.6bn – a figure also verified by his private office) – top the remaining slots in the top five.
The 2013 list showed the top 50 richest Arabs in the world now have a combined wealth of $266.11bn, up from $257.21bn last year.
But only 11 of the names on last year’s list saw their figures rise.
Saudi Arabia accounted for nearly half the entries on this year’s list, with 23, followed by the UK and Kuwait, with four each. Seven of this year’s entries are based in Europe, with the UAE accounting for just three.
Arabian Business Editor Ed Attwood said: “The last 12 months have seen some solid performances by Arab business leaders across the globe, but what is significant is only 11 of the top 50 saw their wealth increase. The overall wealth has increased largely because of phenomenal performances by the top two in our list, Prince Alwaleed and Mohamed Al Jaber."
The list does not include any members of royal families, unless their wealth is specifically derived from business interests.finance news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
And its required is 9 to12 foot of land for everyone to earn in the whole life. Sigh on rich arabs.
Masha Allah. He has potential to be in top 5.
Shameful really shameful. And he loves his wealth sssoooooo much!
The only thing i need is â‚¬ 1 m to do busness and become like him. Go will surly provide. :)
Life has more than one goal. If someone makes so much money and you think, is that good or not good, the answer is.
It is good.
How comes? Yes, think of money as a tool. Like any other tools money has a potential working sfare. With out money how would you pay your bills? How would you pay for living, food, schools, education, clothes, cars, travel shops, hotels; and other living assets such as nice things?
Do not think of these things as "things" but think of these "things" as people, jobs, giving.
So, when a man makes so much money he really does good, not just for the sake of himself and his money, but for society and for so many other people who has jobs and so much benefit because of him.
He is a hero.
Let me tell you about this very expensive painting of Jackson Pollock worth 20 million $. It is for sale, but not for the money alone but for the joy of enjoying art. This particulars painting is more valuable than gold and platinum pr. gram.