Prince Alwaleed 'richest in Mideast'
Singapore, October 3, 2013
Saudi billionaire investor Prince Alwaleed bin Talal is the wealthiest man in the Middle East with an estimated personal fortune of $24.5 billion, according to a new report.
He heads Wealth-X’s list of the top 20 ultra-wealthy individuals from the Middle East, which is dominated by other Saudi nationals and billionaires from the UAE, a statement said.
With a combined fortune of $152.8 billion, these 20 individuals account for 0.4 percent of the ultra high net worth (UHNW) population in the Middle East and 17 percent of the wealth in the region.
Wealth-X, the world’s leading UHNW intelligence firm, released this ranking as part of the Wealth-X and UBS World Ultra Wealth Report, a comprehensive study of the global UHNW population.
The report showed that Middle East’s UHNW population increased 15.3 percent to 5,300 individuals with a combined wealth of $880 billion – a 23.9 percent rise from last year.
Saudi Arabia has the largest UHNW population and wealth in the region with 1,360 individuals with a combined fortune of $285 billion. Seven Saudi billionaires made the Wealth-X list, one short of the UAE, which has the highest number of UHNW individuals from one jurisdiction in the region. - TradeArabia News Service