Arab billionaires’ fortunes are rising despite Corona …
Arab billionaires‘ fortunes have increased by about $10.8 billion in the past seven months, despite the impact of Corona on economic activities around the world.
3 billionaires led the list, they are Algerian Issad Rebrab, the richest Arab Egyptian, Nassef Sawiris, and Moroccan billionaire Aziz Akhannouch. While the fortunes of the Arab billionaires have not decreased.
The fortunes of the Arab billionaires, who number 21, have increased by about $10.8 billion since the unveiling of the Forbes list of billionaires last April to 25 November.
Total wealth reached $58.1 billion, compared to $47.3 billion in April.
Issad Rebrab and the family are among the top gainers, after adding $3.3 billion to his fortune, reaching $7.5 billion, compared to $4.2 billion in April. Only $200 million separates him from Nassef Sawiris, who tops the list.
Nassef Sawiris added $2.7 billion to his fortune over the past seven months, to $7.7 billion, according to Forbes’ real-time data.
The fortunes of Moroccan billionaire Aziz Akhannouch and his family also jumped by 250%. They have risen from $1 billion in April to $3.5 billion today.
Meanwhile, the wealth of wealthy Emirati Hussain Sajwani, Chairman of DAMAC Properties, increased by about $900 million, to $2.3 billion, compared to $1.4 billion in April
Majid Al Futtaim and his family
Retail and entertainment giant Majid Al Futtaim and his family added $300 million to the $3.6 billion fortune.
The fortune of Faisal bin Qasim Al Thani, chairperson of Al-Faisal Holding, also increased by $300 million, to reach $1.5 billion.
Taha and Najeeb Mikati
The fortunes of the Lebanese Taha Mikati, Najeeb Mikati, and Omani billionaire Suhail Bahwan each increased by about $200 million each, to $2.4 billion, $2.3 billion, and $2.3 billion, respectively.
While the fortunes of Yassin Mansour and Muhammad Al-Fayed increased by about $100 million each, to reach $2.3 billion and $1.5 billion, respectively.
Abdullah bin Ahmed Al Ghurair
While the fortunes of 10 billionaires stabilized at the same levels, they are Abdullah bin Ahmed Al-Ghurair and the family, Mohammed Mansour, Naguib Sawiris, Abdullah Al-Futtaim and the family, Baha Al Hariri, Youssef Mansour, Robert Moawad and the family, Qutaiba Al-Ghanim, Ayman Al-Hariri and Fahd Al-Hariri.
Off the list
Although Moroccan billionaire Othman Benjelloun has been out of Forbes’ Billionaires 2020 list, his fortune has rebounded, now reaching $1.3 billion.