- Middle East Business News
Wednesday, 30 September 2020
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.

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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.



Disclaimer: The views expressed here by our readers are not necessarily shared by 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 ?

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