Nassef Sawiris listed as richest among 31 Arab billionaires: Forbes

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.