The world’s 50 richest Arabs have increased their personal wealth by nearly five per cent to a combined value of $256.67 billion, according to the Arabian Business Rich List 2011.
The Saudi prince Alwaleed bin Talal topped the richest Arabian Business Rich List with $21.3 billion for the 4th consecutive year .
The Sawiris family was the only Egyptian family to figure on the list. They family’s ranking progressed to the 23rd place in 2011 from the 28th last year with wealth estimated at $4.2 billion up from $3.55 billion last year according to Arabian Business.
The Egyptian businessman, Shafiq Gabr was out of the list this year after occupying the 47th position in 2010 with a wealth estimated at $ 2.1 billion wealth. The two brothers Ahmed and Hassam Mohamed Hassanein Heikal also dropped out of the list as they came in the 49th position with $1.7 billion.
By far the biggest winner this year is Kuwait’s Bukhamseen family, who have nearly doubled their wealth from $4 billion to $7.25 billion following a reevaluation of their assets. The family owns and runs the Bukhamseen Group, which has stakes in three regional banks: First Gulf Bank, Kuwait International Bank and Egyptian Gulf Bank.
Rich men from Saudi Arabia took over the 5 first places in the list.
As a whole, 19 new names figured in the list while 18 saw a regression in their rankings.