Saudi Arabia and Lebanon lead in number of Arab billionaires
Saudi Arabia and Lebanon lead in number of Arab billionaires
Forbes Arabia on Sunday revealed that Saudi Arabia and Lebanon have the highest number of wealthy people in the Arab world, each with 8 billionaires.
Prince Alwaleed Bin Talal Al-Saud, a global investor, tops the Arab fortune list with a wealth of US$18-B, while a billionaire from Morocco joins the Club for the first time.
Prince Alwaleed Bin Talal Al-Saud, who has investments in Citigroup, Moevenpick hotels and News Corp, is followed in 2nd place by Lebanese-Brazilian billionaire Joseph Safra with US$13.8-B.
Mr. Safra belongs to the wealthy Jewish family who runs the Global banking and investment empire Safra Group headquartered in Brazil.
Standing out from the crowd is Miloud Chaabi from Morocco ranks 10th with a fortune of US$2.9-B. “Following a religious education, this inspirational man started working at 15 anni as a shepherd, then as a farmer, before moving into the construction industry,” Forbes Arabia said.
Chaabi leads the Moroccan billionaires as head of Ynna Holding, a company specializing in real estate development, hotels, and retail industry.
Egypt has 7 billionaires on the list, and the United Arab Emirates has a total of 4.
Paul A. Ebeling, Jnr.
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Paul A. Ebeling, Jnr.www.livetradingnews.com
Paul A. Ebeling, Jnr. writes and publishes The Red Roadmaster’s Technical Report on the US Major Market Indices, a weekly, highly-regarded financial market letter, read by opinion makers, business leaders and organizations around the world.
Paul A. Ebeling, Jnr has studied the global financial and stock markets since 1984, following a successful business career that included investment banking, and market and business analysis. He is a specialist in equities/commodities, and an accomplished chart reader who advises technicians with regard to Major Indices Resistance/Support Levels. Read the Terms of Service
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