Saudi Arabia’s HRH Prince Alwaleed bin Talal has topped the Arabian Business Rich List for the ninth year in succession, with his current wealth now standing at US$25.9bn.
The figure – verified by his private office – is a staggering US$4.6bn more than it was 12 months ago. A large part of the increase is put down to the remarkable rise in the share price of Kingdom Holding, the company in which he owns a 95 percent stake. By early December, Kingdom shares were trading 147 percent higher compared to a year ago.
Second place on this year’s list went to Saudi Arabia’s Olayan family, with a wealth of US$12.9bn, while another Saudi – Mohammed Al Amoudi – was ranked third, with US$11.5bn.
This year’s entry level was $2bn, with Iraq’s Namir Al Akabi taking 50 place.
The 2012 Arabian Business Rich List also contains a record 15 new entries, with Saudi Arabia dominating the list. Of the top 50, 23 of this year’s entries are based in the country. Five of the top ten are based in Saudi Arabia.