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Four Emiratis have made it to this Forbes’ 35th Annual World Billionaires list for 2021, which features a total of 22 Arab billionaires.
The combined fortunes of the 22 Arab billionaires climbed to $53.4 billion in 2021, compared to $47.3 billion a year earlier, notwithstanding the global pandemic.
According to Forbes, Egypt's Nassef Sawiris is the wealthiest Arab. His net worth is $8.3 billion, which is $3.3 billion more than last year. He has a nearly 6 percent stake in sportswear maker Adidas and runs OCI, one of the world's largest nitrogen fertilizer producers.
Algeria's only billionaires, Issad Rebrab & family, are the world's second-richest Arabs, worth $4.8 billion. Rebrab is the founder and CEO of Cevital, Algeria's largest privately-held company.
The net worth UAE’s Majid Al Futtaim & family was in the third spot, with $3.6 billion net worth.
Abdulla bin Ahmad Al Ghurair & family was in the fifth spot with a net worth of $2.8 billion.
Emirati developer Hussain Sajwani was in the ninth spot with $2.4 billion and Abdulla Al Futtaim & family, which owns the Al Futtaim Group, was 11th in the list with a fortune of $2.2 billion.
Egyptian and Lebanese billionaires make up more than 50 percent of the ranking with six entries each.
Globally, Jeff Bezos is the world's richest person for the fourth consecutive year with a net worth of $177 billion, while Elon Musk bagged the number two spot with $151 billion, Forbes said.
(Writing by Brinda Darasha; editing by Seban Scaria)
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© ZAWYA 2021
