Planet’s richest 20 people: Why aren’t Saudi billionaires on it??

March 11, 2018 12:34 pm

The Saudi corruption probe is over and Saudi Crown Prince Mohammed Bin Salman is on a shuttle mission to partly convince western leaders of the same.

But what’s not over is who is left detained and what litigation awaits them, and what are the facts and numbers behind major settlement cases.

And until that happens, the international community remains unsure and it showed in a recent listing by Forbes.

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Saudi billionaires unaccounted for

Zero Hedge, a renowned financial blog, said that Saudi’s silence about how much money was taken from each individual detainee, made external evaluations of their post-crackdown wealth nearly impossible.

“So perhaps it’s unsurprising that Forbes Magazine has decided to exclude all Saudi Arabian businessmen from this year’s list of the world’s 100 richest people,” said the blog.

“Out of the 10 Saudi billionaires who made the Forbes list last year, at least four were detained – the most recognizable being Prince Alwaleed bin Talal, whose net worth last year was close to $20 billion.”

Zero Hedge reported Forbes explaining, “There are a thousand and one stories about what precisely happened, making it impossible to know definitively who gave how much to whom, when. We’ve chosen to leave all ten Saudis off our billionaires list this year…With greater clarity regarding their wealth, some might eventually return to the ranking.”

Read: Could Saudi be leading the drive to employ women in the Middle East?

Not in this year’s list

Zero Hedge reported who was excluded from Forbe’s this year, along with their last confirmed net worth.

These include:

Prince Alwaleed bin Talal: $18.7 bn- Chairs publicly traded Kingdom Holding.

Mohammed Al Amoudi:  $8.1 bn- Assets include a Swedish refinery, Saudi gas stations and an Ethiopian conglomerate.

Prince Sultan bin Mohammed bin Saud Al Kabeer: $3.8 bn- Chairman of Almarai dairy company

Mohammed Al Issa: $2.6 bn- Owner of Assila Investments has stakes in a bank, a food processor and hotels.

Saleh Kamel: $2.3 bn- Founded Dallah Albaraka conglomerate.

Abdullah Al Rajhi: $1.9 bn- Owner Al Rajhi Bank.

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 Forbes 20 richest people (rank, name, wealth, age, position, country)

#1 Jeff Bezos, $112 bn, 54, Founder of Amazon, US

#2 Bill Gates, $90bn, 62, Founder of Microsoft, US

#3, Warren Buffett, $84bn, 87, Berkshire Hathaway, US

#4  Bernard Arnault, $72bn, 69, LVMH, France

#5 Mark Zuckerberg, $71bn, 33, Facebook, US

#6 Amancio Ortega, $70bn, 81, Zara, Spain

#7 Carlos Slim Helu, $67.1bn, 78, telecom, Mexico

#8 Charles Koch, $60bn, 82, Koch Industries, US

#8 David Koch, $60bn, 77, Koch Industries, US

#10 Larry Ellison, $58.5bn, 73, Software US

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#11 Michael Bloomberg, $50bn, 76, Bloomberg LP, US

#12 Larry Page, $48.8bn, 44, Google, US

#13 Sergey Brin, $47.5bn, 44, Google, US

#14 Jim Walton, $46.4bn, 69, Walmart, US

#15 S. Robson Walton, $46.2bn, 73, Walmart, US

#16 Alice Walton, $46bn, 68, Walmart, US

#17 Ma Huateng, $45.3bn, 46, internet media, China

#18 Francoise Bettencourt Meyers, $42.2bn, 64, L’Oreal, France

#19 Mukesh Ambani, $40.1bn, 60, petrochemicals, oil & gas, India

#20 Jack Ma, $39bn, 53, e-commerce, AliBaba, China

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UAE billionaires that made the Forbes list

#296 Abdulla bin Ahmad Al Ghurair, $5.9bn, diversified

#456 Majid Al Futtaim, $4.6bn, real estate, retail

#527 Hussain Sajwani, $4.1bn, 65, real estate

#703 Abdulla Al Futtaim, $3.3bn, auto dealers, investments

#887 Saeed Bin Butti Al Qebaisi, $2.7bn hospitals, investments

#1284 Saif Al Ghurair $1.9bn, 94, diversified

#1561 Khalifa Bin Butti Al Muhairi, $1.5bn, 39, hospitals, investments




Hadi Khatib
By Hadi Khatib
Hadi Khatib is a business editor with more than 15 years' experience delivering news and copy of relevance to a wide range of audiences. If newsworthy and actionable, you will find this editor interested in hearing about your sector developments and writing about it.