Arab billionaires' fortunes jump $11bln despite the pandemic - Forbes

The list was headed by Algerian billionaire Issad Rebrab & family, the world's richest Arab Nassef Sawiris, and Moroccan Aziz Akhannouch & family

  
File image. Nassef Sawiris, director and chief executive of Orascom Construction Industries (OCI) resigns.

File image. Nassef Sawiris, director and chief executive of Orascom Construction Industries (OCI) resigns.

REUTERS/ Benoit Tessier

Riyadh –   Arab billionaires have witnessed a surge in their fortunes despite the coronavirus pandemic, with a cohort of 21 individuals gaining $10.8 billion during the last seven months, Forbes said.

The list was headed by Algerian billionaire Issad Rebrab & family, the world's richest Arab Nassef Sawiris, and Moroccan Aziz Akhannouch & family.

Surprisingly, no Arab billionaires have seen declines in wealth since April.

The total wealth of the 21 Arab billionaires increased by $10.8 billion since the Forbes Billionaires’ list was launched in April 2020 and till 25 November 2020. It now stands at $58.1 billion, compared to $47.3 billion in April.

Issad Rebrab & family came in the first place, adding $3.3 billion to his fortune to hit $7.5 billion. Only $200 million separates him from Nassef Sawiris who tops the list.

The Egyptian billionaire Nassef Sawiris has added $2.7 billion to his net worth since April to hit $7.7 billion, whilst Morocco's Aziz Akhannouch & family saw a 250% rise in the fortune, which jumped to $3.5 billion as of 25 November.

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© Mubasher 2020

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