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Business
Prince Alwaleed Tops Saudi Rich List
Saturday, November 26, 2011
Dubai- (PanOrient News) Prince Alwaleed, the founder of Kingdom Holding, topped the 2011 Saudi Rich List, with assets worth $20.4bn, Arabian Business reported.
MBI boss Mohamed Al Jaber, with $12.5bn. ranked second on a list of 30 billionaires who increased their wealth with the benefit of rising oil prices and the economic boom in Saudi Arabia, it said.
Prince Alwaleed’s wealth was calculated from five separate areas. First, the publicly traded stocks, which all fall under the Kingdom Holding Company. Second, major media companies (Rotana and LBC). Third is the prince's real estate holdings. Fourth, other major assets - in transportation, his jewelry collection, his investment in a French port and his stakes in Lebanese and Palestinian companies. The fifth part of his wealth is held entirely in cash in banks.
On what keeps him motivated, Prince Alwaleed told Arabian Business that "there's no limit for success. Success is achievement, grow your business and plough back some of your benefits to improve the lives of people, it's a cycle. There is no top. The moment you reach the top you go downhill. If you reach the top of the hill what happens next? You have to go down. I'm not planning to go down. As far as I am concerned, you can never reach the top of the hill."
The Saudi Rich List included The Bin Ladin Family ranking 5th with $9.8bn, and Mohamed Abdul Latif Jameel who owns the world's largest Toyota dealership which ranks him at 10. Former Lebanese Prime Minister Saad Hariri, who has Saudi citizenship, ranked 16 with $3.7bn.
Saudi Arabia has more super-rich households worth more than $100m than anywhere else in the world, according to Boston Consulting Group. Overall wealth in the Middle East and North Africa grew 8.6 percent to $4.5 trillion in 2010, aided by high oil prices, and is expected to reach $6.7 trillion by 2015, BCG said.
The following is the Saudi Rich List 2011 according to Arabian Business:
Rank Name Wealth ($)
1 Prince Alwaleed Bin Talal Al Saud 20.4bn
2 Mohamed Bin Issa Al Jaber 12.5bn
3 The Olayan Family 11.9bn
4 Mohammad Al Amoudi 10bn
5 The Bin Ladin Family 9.8bn
6 The Bugshan Family 7bn
7 The Al Juffali Family 6.2bn
8 Tarek Abdulla Al Qahtani 6bn
9 Mubarak Al Suwaiket 5.2bn
10 Mohamed Abdul Latif Jameel 5.1bn
11 The Naghi Family 5bn
12 Sulaiman Abdul Aziz Al Rajhi 4.57bn
13 Abdullah Al Rushaid 4.55bn
14 Mohammed Sharbatly 4.1bn
15 Mohammad Kamal Jamjoom 4.02bn
16 Saad Hariri 3.7bn
17 Ahmed Saleh Baeshen 3.5bn
18 Abdullah Bin Saleh Al Othaim 3.28bn
19 Abdullatif Al Fozan 3.26bn
20 Saedan Family 3.22bn
21 Abdulaziz Al Sulaiman 3.2bn
22 Hussein Bakry Gazzaz 3.17bn
23 Osama Ismail Ali Abudawood 3.1bn
24 Mohammed Elkhereiji 3bn
25 Bahaa Hariri 3bn
26 Adel Aujan 2.9bn
27 The Al Zamil Family 2.8bn
28 Mansour Ojjey 2.7bn
29 Ayman Hariri 2.7bn
30 Abdul Mohsen Bin Abdul Aziz Al Hokair 2.7bn
Photo: Prince Alwaleed
PanOrient News
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