4/6/2023 – | Last updated: 4/6/2023 09:23 PM (Makkah Al-Mukarramah)
The American Forbes magazine published its annual ranking of the world's richest people in 2023, which included 2,640 billionaires, compared to last year's list of 2,668 billionaires.
In all, the billionaires' wealth is now $12.2 trillion, about $500 billion less than in March of last year.
According to "Forbes" magazine, the ranking of the 10 richest Arabs came as follows:
1- Egyptian Nassef Sawiris: $7.4 billion.
2- Algerian Issad Rebrab and his family: $4.6 billion.
3- Emirati Hussain Sajwani: $4.5 billion.
4- Egyptian Mohamed Mansour: $3.6 billion.
5- Egyptian Naguib Sawiris: $3.3 billion.
6- Emirati Abdullah bin Ahmed Al Ghurair and his family: $3 billion.
7- Lebanese Najib Mikati: $2.8 billion.
8- Lebanese Taha Mikati: $2.8 billion.
9- Omani Suhail Bahwan: $2.7 billion.
10- Emirati Abdullah Al-Futtaim and his family: $2.4 billion.
The report indicated that 9 out of 21 Arab billionaires have less wealth now than it was a year ago. However, their combined wealth increased from $52.9 billion in 2022 to $53.9 billion in 2023.
The Egyptian Nassef Sawiris maintained the top spot among the wealthy Arabs, despite the decrease in his wealth by about $ 300 million compared to 2022.
His nearly 6% stake in sportswear maker Adidas is one of his most important investments. Sawiris also runs OCI, one of the largest producers of nitrogen fertilizers in the world, with factories in Texas and Iowa.
While the Algerian billionaire, Issad Rabrab and his family came in second place, and his wealth decreased by $ 500 million compared to 2022. Rabrab is the founder and CEO of the “Cevital” group, the largest private Algerian company. Cevital owns one of the largest sugar refineries in the world, with a production capacity of two million tons of refined sugar annually.
As for the increase in wealth, the wealth of the Emirati billionaire Hussain Sajwani witnessed an increase of 66.7%, which is the most compared to 2022. Muhammad Mansour also witnessed an increase in his wealth by 44% this year.
The combined net worth of Egyptian billionaires amounts to $19.1 billion, and they are the brothers Muhammad, Youssef and Yassin Mansour, as well as the two brothers Nassef and Naguib Sawiris, in addition to Muhammad Al-Fayed, the former owner of Harrods, 94 years old.
The net worth of the six Lebanese billionaires is $11.8 billion, and they are the two Mikati brothers, the well-known jewelry dealer Robert Moawad, and Bahaa, Ayman and Fahd Hariri, the three brothers of the billionaire former Prime Minister of Lebanon Saad Hariri.
While the UAE included 3 billionaires in the 2023 list, they are: Hussain Sajwani, Abdullah bin Ahmed Al Ghurair and his family, and Abdullah Al Futtaim and his family, with a combined net worth of $9.9 billion.