ALBAWABA - Forbes magazine has published its annual ranking of the world's billionaires for the year 2023, including 2,640 billionaires, compared to the previous year's list of 2,668 billionaires.
Overall, the billionaires' wealth now amounts to $12.2 trillion, which is approximately $500 billion less than March 2022.
According to Forbes, the ranking of the top 10 Arab billionaires is as follows:
Egyptian, Nassef Sawiris: $7.4 billion.
Despite a decrease of approximately $300 million in his wealth compared to 2022, Egyptian Nassef Sawiris maintained his position as the richest Arab billionaire.
His nearly 6% stake in Adidas, a leading sportswear company, is one of his most significant investments. Sawiris also manages Orascom Construction Industries (OCI), one of the world's largest producers of nitrogen fertilizers, with factories in Texas and Iowa, USA.
Algerian, Issad Rebrab and family: $4.6 billion.
Issad Rebrab is the founder and CEO of Cevital Group, the largest private Algerian company Cevital owns one of the world's largest sugar refineries with an annual production capacity of two million tons of refined sugar.
Emirati, Hussain Sajwani: $4.5 billion.
Hussain Sajwani is the founder of the property development company, DAMAC Properties
Egyptian, Mohamed Mansour: $3.6 billion.
Mohamed Mansour is the chairman of Mansour Group
Egyptian, Naguib Sawiris: $3.3 billion.
Nassef is the brother of the richest Man of the arab world , He built a fortune in telecom , selling orascom telecom in 2011 to russian telecom Vimpelcom in a multibillions-doller Transaction
Emirati, Abdullah bin Ahmad Al Ghurair and family: $3 billion.
Abdulla Al Ghurair Founded mashreqbank a leading UAE Bank in 1967
Lebanese, Najib Mikati: $2.8 billion.
The six Lebanese billionaires have a combined net worth of $2.8 billion, Najib mikati the cofounder of beirut based investment firm M1 Group
Lebanese, Taha Mikati: $2.8 billion.
Taha Mikati the Co-Founder of beirut based investment firm M1 Group with his brother Najib mikati
Omani, Suhail Bahwan: $2.7 billion.
Suhail Bahwan the Founder and chairman of Suhwan Group
Emirati, Abdullah Al Futtaim and family: $2.4 billion.
Abdulla Al Futtain Own the songlomerate Al Futtaim Group
The report highlighted that 9 out of 21 Arab billionaires have seen a decrease in their wealth compared to the previous year. However, their collective wealth increased from $52.9 billion in 2022 to $53.9 billion in 2023.
