Saudis top Forbes list of ‘Richest Arabs’

Saudi Arabians have topped Forbes list of Richest Arab Billionaires in 2015, with an aggregate wealth of more than $65.88 billion.

According to the magazine, the wealth of Arab billionaires increased 5 percent this year to reach $174.4 billion, compared to $166.2 billion in 2014.

A total of 41 Saudi families made it to the list, including 11 billionaires and 30 millionaires. Prince Waleed Bin Talal ranked as the wealthiest Arab and Saudi with $22.6 billion; while Mohamed Al-Amoudi ranked as the third richest man in the Arab world with $10.08 billion.

The Lebanese ranked second with a combined wealth of $33.8 billion and 11 billionaires, followed by the Egyptians with $27.1 billion. The United Arab Emirates came fourth with 11 billionaires and a total wealth of $22.7 billion.

Among the 100 magnates that appeared on the list, 18 gathered their wealth from the retail sector, 16 from bank and services sector, while only 7 people became rich from investing in oil sector.