FILE - Egyptian businessman Nassef Sawiris FILE - Egyptian businessman Nassef Sawiris

Nassef Sawiris listed as richest among 31 Arab billionaires: Forbes

Sun, Apr. 22, 2018
CAIRO – 22 April 2018: Forbes magazine estimated that there are a total of 31 Arab billionaires with a total wealth of $76.7 billion.

Egyptian businessman Nassef Sawiris ranked first in Arab’s billionaires list in 2018 with an estimated wealth of about $6.6 billion (LE 116.17 billion), and an increase of $1 billion, compared to his wealth in 2017, according to Forbes Magazine.

Forbes’ Arab Billionaire List also included two other Egyptian businessmen which are Naguib Sawiris at the fifth place with a wealth of $4 billion and Mohamed Mansour, who came at the tenth place with $2.7 billion.

UAE businessmen Abdullah bin Ahmed el-Gareer and Majid al-Futtaim came second and third in the list with $5.9 billion and $4.6 billion, respectively.

Comparing with their wealth in 2017, Abdullah bin Ahmed el-Gareer and Majid al-Futtaim’s wealth decreased by $900 million and $6 million, respectively.

In the fourth place, businessman Hussein Suwani is recorded to have a wealth of $4.11 billion, with an increase of $400 million compared to his wealth in 2017.

Algerian businessman Assad Rabrab also came in the fifth place with Naguib Sawiris with a wealth of $4 billion.

In the seventh place, Omani businessman Suhail Bahwan ranked the seventh with an estimated wealth of 3.9 billion dollars, and was followed by UAE businessmen Abdullah el-Futtaim with $3.3 billion.

Lebanese Taha Mikati came in the ninth place with a wealth of 2.8 billion dollars, and an increase of $200 million from 2017.

Besides Mohamed Mansour, Saad bin Batti al-Qubaisi and Najeeb Mikati were ranked tenth with $2.7 billion.

Forbes monitors wealth by enumerating the total assets owned by businessmen or investors through direct ownership in companies traded on global financial markets.

 
There are no comments on this article.

Leave a comment