ARAB NEWS: DUBAI: Forbes Middle East has just revealed the Arab billionaires ranking, composed of 36 distinctive billionaires from across the Arab world with a combined total net worth of $121.3 billion, improving on last year's figure of $117.6 billion.
Topping the ranking for the second year running is Prince Alwaleed bin Talal with a fortune of $18 billion, followed in second place by Lebanese-Brazilian billionaire Joseph Safra with $13.8 billion to his name. Through this prestigious ranking, Forbes Middle East aims to highlight the inspirational stories of the region's Arab billionaires, as well as the challenges and obstacles overcome on the road to success.
Both Saudi Arabia and Lebanon led the way on this ranking with eight billionaires each. Despite recent political turmoil, Egypt was runner up with seven billionaires, followed by the stable UAE with a total of four. However, this year's major headline was newcomer to the billionaires club, Morocco, which entered the ranking with three billionaires - Miloud Chaabi, Othman Benjelloun and Anas Sefrioui.
Kuwait ranked sixth with two billionaires, Bassam and Kutayba Alghanim. Kuwait's wealthy Al-Kharafi family were removed from the ranking following a formal request from the Kharafi Group. Jordan, Syria, Iraq and Sudan also featured in the ranking with one billionaire each. » | ARAB NEWS | Tuesday, April 10, 2012
