World’s Richest Arabs Revealed

King Abdullah of Saudi Arabia and Prince Alwaleed Bin Talal Al Saud, founder of Kingdom Holding Company, were the only two Arabs to make it onto the Sunday Times Global Top 50 Rich List released today.

The Saudi Ruler entered the list at number 27, with a fortune of $19.5 billion, up from $17.9 billion in 2011, according to the UK newspaper.

Prince Alwaleed also entered the list jointly at number 27 with a fortune of $19.5 billion, which has remained unchanged since 2011.

The list was topped by the Waltons, the US family who run Walmart, with a fortune of $83 billion in 2012 down from $91 billion last year.

Mexican telecoms entrepreneur Carlos Slim took second place in the list with an estimated fortune of $72 billion, down from $75 billion in 2011.

Bill Gates ranked number three in the list with a personal fortune of $63.4 billion in 2012, followed by oil tycoons Charles and David Koch ($52 billion) and investor Warren Buffett ($46 billion).

The Sunday Times British Rich List was by topped steel magnate Lakshmi Mittal and family with a personal fortune of $20.6 billion.