Forbes billionaires list: Top 10 richest people in the GCC

Saudi billionaire Prince Alwaleed once again tops regional rich list.



Billionaires across the world have seen a drop in their personal fortunes with their aggregate net worth down $570bn from last year, Forbes 2016 World’s Billionaires list found.

According to the annual ranking of the world’s richest, the number of billionaires was also down to 1,810 from a record 1,826 a year ago.

Their aggregate net worth stood at $6.48 trillion.

It was also the first time since 2010 that the average net worth of a billionaire dropped, the report said. It currently stands at $3.6bn, $300m less than last year.

The list saw a lot of reshuffling with only two people in the top 20 holding the same rank as 2015. One of them is Bill Gates, who remains the world’s wealthiest individual with a fortune of $75bn.

Forbes also said that Facebook’s Mark Zuckerberg had the best year among the billionaires, with the 31-year-old adding $11.2bn to his fortune and moving to six from 16.
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Geographically, the United States has the most number of billionaires at 540, followed by mainland China with 251, Germany with 120, Russia with 77 and Brazil with 23.

TOP 10 RICHEST IN THE GCC

1. Prince Alwaleed Bin Talal Alsaud

Country of citizenship: Saudi Arabia

Rank: 41

Net worth: $18.3bn

Sector: Investments

Age: 60

2. Mohammed Al Amoudi

Country of citizenship: Saudi Arabia

Rank: 138

Net worth: $8.4bn

Sector: Oil, diversified

Age: 69

3. Majid Al Futtaim and family

Country of citizenship: United Arab Emirates

Rank: 270

Net worth: $5.1bn

Sector: Real estate, retail

4. Abdulla bin Ahmad Al Ghurair and family

Country of citizenship: United Arab Emirates

Rank: 286

Net worth: $4.9bn

Sector: Diversified

5. Prince Sultan bin Mohammed bin Saud Al Kabeer

Country of citizenship: Saudi Arabia

Rank: 477

Net worth: $3.5bn

Sector: Dairy farms

Age: 62

6. Hussain Sajwani

Country of citizenship: United Arab Emirates

Rank: 527

Net worth: $3.2bn

Sector: Real estate

Age: 63

7. Abdulla Al Futtaim

Country of citizenship: United Arab Emirates

Rank: 549

Net worth: $3.1bn

Sector: Auto dealers, investments

8. Mohammed Al Issa and family

Country of citizenship: Saudi Arabia

Rank: 771

Net worth: $2.4bn

Sector: Investments

9. Saif Al Ghurair and family

Country of citizenship: United Arab Emirates

Rank: 810

Net worth: $2.2bn

Sector: Diversified

10. Sheikh Faisal Bin Qassim Al Thani

Country of citizenship: Qatar

Rank: 906

Net worth: $2bn

Sector: Hotels, diversified

Age: 68

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