ArabianBusiness.com - Middle East Business News
Monday, 26 August 2019
The World's 50 Richest Arabs
 
 
Prince Alwaleed sees $1bn rise in wealth, tops rich list
Sunday, 20 December 2009

Read the 2009 Rich List in full

Kingdom Holding chairman Prince Alwaleed has managed to increase his wealth by nearly one billion dollars – despite the worst global recession in living memory.


The 2009 Arabian Business Rich List shows Prince Alwaleed topping the list for the sixth consecutive year, with a fortune of exactly $18bn, almost a billion dollars more than a year ago.

Story continues below
advertisement

The magazine reports that although the value of shares in Kingdom Holding is slightly less than this time last year, an increase of his cash deposits and a rise in value of some assets means his wealth has actually increased.

Outside the publicly quoted Kingdom Holding, Prince Alwaleed’s wealth is broken into four other areas: major companies outside KHC, which last year were valued at $.56bn and an engineering consultancy worth close to $12m. Then the real estate owned by Prince Alwaleed, valued at $3.18bn. Fourth, other major assets valued at $1.7bn. A large chunk of this — $822m — is the value of his transportation assets, including the world’s first private A380 ‘superjumbo’, dubbed the ‘Flying Palace’.

The rest is made up by his jewellery collection, his investment in a French port and his stakes in Lebanese and Palestinian companies.

But it is understood that the final part of his holdings – in pure cash in banks – and an upgrade in the valuation of companies outside the Kingdom Holding umbrella by several hundred million dollars – puts him on $18bn. The figures, the magazine says, have been confirmed by HRH’s private office in Riyadh.


 

READERS' COMMENTS

Disclaimer: The views expressed here by our readers are not necessarily shared by ArabianBusiness.com or its employees.
???
Posted by pak on Sunday 20 December 2009 at 23:57 UAE time


wht does avg saudi or arab has to do with his wealth? wht does avg american or russian or any other citizen think or do abt the billionaires in there country?
eat cake
Posted by expense in check on Sunday 20 December 2009 at 15:13 UAE time


How does your average Saudi or other Arab feel about this and what will they do ?

Click here to post a comment


Add your Comment
All posts are sent to the administrator for review and are published only after approval. ArabianBusiness.com reserves the right to remove any comment at any time for any reason. Please keep your responses appropriate and on topic.
Arabian Business would like to point out that only comments relevant to the story will be published. Any containing personal insults or inappropriate language will not be approved.
Name *
Remember me on this computer
Email *
(Your email address will not be published)
City
Country
Subject *
Comment *
Notify me of further comments


Please click post only once - your comment will not be published immediately.

Meet The Boss