Revealed: Top 10 Billionaires In The GCC

A total of 18 billionaires from four GCC countries including Saudi Arabia, Oman, Kuwait and the UAE featured on the 2014 Forbes Billionaires List, with a combined wealth of $72.3 billion.

Saudi billionaire Prince Alwaleed Bin Talal Alsaud again ranked as the wealthiest individual in the GCC and across the Middle East on the list, with a net worth of $20.4 billion. However, that is much lower than the $30.5 billion valuation estimated by Bloomberg’s billionaires index on February 25.

Prince Alwaleed, chairman of Kingdom Holding Company, announced last year that he was severing ties with the Forbes Billionaires list, after he claimed his wealth was undervalued by around $9.6 billion.

In a statement, he said he “took this step as he felt he could no longer participate in the process that resulted in the use of incorrect data and seemed designed to disparage Middle Eastern financial institutions such as the Saudi stock exchange.”

However, Forbes justified its estimate last year, stating the prince “systematically exaggerates” his wealth.

In its list this year, Forbes features a total of 1,645 billionaires with an aggregate net worth of $6.4 trillion, up from $5.4 trillion a year ago.

US billionaire Bill Gates reclaimed his top spot on the list after a four-year hiatus with a net worth of $76 billion, adding $9 billion to his wealth last year.

TOP 10 BILLIONAIRES IN THE GCC

1. Prince Alwaleed Bin Talal Alsaud

Ranking on the list: 30
Net worth: $20.4 billion
Country: Saudi Arabia

2. Mohammed Al Amoudi

Ranking on the list: 61
Net worth: $15.3 billion
Country: Saudi Arabia

3. Abdulla bin Ahmad Al Ghurair & family

Ranking on the list: 305
Net worth: $4.8 billion
Country: UAE

4. Majid Al Futtaim

Ranking on the list: 328
Net worth: $4.5 billion
Country: UAE

5. Prince Sultan bin Mohammed bin Saud Al Kabeer

Ranking on the list: 446
Net worth: $3.5 billion
Country: Saudi Arabia

6. Mohammed Al Issa

Ranking on the list: 520
Net worth: $3.1 billion
Country: Saudi Arabia

7. Saif Al Ghurair & family

Ranking on the list: 609
Net worth: $2.8 billion
Country: UAE

8. Abdulla Al Futtaim

Ranking on the list: 687
Net worth: $2.5 billion
Country: UAE

9. Abdullah Al Rajhi

Ranking on the list: 731
Net worth: $2.4 billion
Country: Saudi Arabia

10. Saleh Kamel

Ranking on the list: 731
Net worth: $2.4 billion
Country: Saudi Arabia

The other billionaires from the GCC region include three representatives from Kuwait’s Al Kharafi family and two from the Alghanim family, Mohammed Al Barwani and PNC Menon from Oman and Sulaiman Al Rajhi and family from Saudi Arabia.