Nassef Sawiris
Nassef Sawiris tops Forbes Arab billionaires list
DUBAI, March 8, 2018
Construction and chemical tycoon Nassef Sawiris tops the 2018 Forbes Arab billionaires list with an estimated net worth of $6.6 billion.
He is followed by three Emirati business moguls -- Abdullah Al Ghurair, Majid Al Futtaim and Hussain Sajwani, with an estimated net worth of $5.9 billion, $4.6 billion and $4.1 billion, respectively.
The list has 31 Arab billionaires, seven of which are from the UAE and seven from Lebanon. The mega-wealthy Arab business tycoons have a combined estimated net worth of $76.7 billion.
This year Forbes chose to abstain Saudi Arabia billionaires from the list due to reports revolving around asset seizures in the kingdom. As a result, the total wealth of Arab billionaires has fallen from $123.4 billion to $76.7 billion, and 11 have dropped off the charts: last year there were 42.
However, this year the Saudi billionaires are expected to be worth more considering the rise in oil prices and capital markets globally, a statement said.
Among the top 10 are: Issad Rebrab (Algeria - $4 billion); Naguib Sawiris (Egypt - $4 billion); Suhail Bahwan (Oman - $3.9 billion); Abdulla Al Futtaim (UAE- $3.3 billion); Taha Mikati (Lebanon - $2.8 billion) and Mohamed Mansour (Egypt - 2.7 billion). - TradeArabia News Service
