Arabs will be among the wealthiest people on the planet in 2022. Men from Egypt, the United Arab Emirates, Algeria, Oman, and Lebanon are among the top ten wealthiest Arabs in 2022. These Arabs are worth a total of $53.4 billion. Regardless of how awful 2020 was, the world’s wealthiest people were unaffected. That year, rather than being a down year for millionaires, was a year of growth.
Here’s the list of top Arab millionaires:
Prince Alwaleed Bin Talal Alsaud
He’s the No. 1 on the list of top Arab millionaires. Even though his wealth has dropped $5.3 billion from $22.6 billion last year to $17.3 billion this year, Saudi Arabia’s Prince Alwaleed Bin Talal Alsaud remains the world’s wealthiest Arab.
With Kingdom Holdings Co, the Prince owns investments in commercial and private enterprises in the United States, Europe, and the Mideast, according to the newspaper.
Nassef Sawiris is a member of Egypt’s greatest benefit and an entrepreneur. His most significant asset is a roughly 6% ownership in Adidas, a sports company. In December 2020, he purchased a 5% share in Madison Square Garden Sports, the operator of the NBA Knicks & NHL Rangers franchises, which would be listed on the New York Stock Exchange.
He is the CEO of OCI, a global nitrogen fertilizer company with factories in Texas and Iowa that participates on the Euronext Amsterdam platform. Orascom Construction, a construction and engineering company, is listed on the Cairo Stock Exchange and the Nasdaq Dubai.
Majid Al Futtaim
In 1992, Majid Al Futtaim established the entertainment and shopping conglomerate Majid Al Futtaim Enterprises, or MAF. MAF owns and runs 13 hotels and 26 shopping malls, namely Dubai’s Mall of the Emirates and Cairo’s Plaza of Egypt. It also holds the unique rights to operate Carrefour hypermarkets in the Middle East, Central Asia, and North Africa.
Mohamed Mansour is the CEO of the Mansour Group, a family corporation formed by his dad Loutfy (D.1976) around 1952 and employing 60,000 people. In 1975, Mansour opened General Motors stores in Egypt, eventually and became one of the company’s largest distributors globally.
Bahaa Hariri is the oldest child of the assassinated Lebanese President Rafik Hariri, and he inherits his father’s millionaire wealth. He transferred his stake in Saudi Oger, the personal construction company, to his brother, former Lebanon President Mohamed saad Hariri, in 2008. Horizon Group, a property investment holding business with assets in Beirut, Amman, Jordan, and Lebanon, was formed and is chaired by Bahaa Hariri.
Al Jaber is the creator of London-based hotels, cuisine, and a major company with over 50 properties across the United Kingdom, France, Austria, Egypt, and Portugal.
Bugshan, Ahmed Salem & Family
Ahmed Salem Bugshan is the chairman of one of Abdullah Said Bugshan Co’s three subsidiaries. In Saudi Arabia, the company holds half of the Pepsi marketing and distribution business.
Al Rashed (Saudi Arabia)
Al-Rashed Group was created in 1950 by Rashed AlRashed, who sold construction materials throughout Saudi Arabia’s building boom. Later on, he expanded his business into property investment, car components, and food.
With 11 shopping complexes across the nation with rights to international brands such as Topshop, Zara, Nine West, and Gap Fawaz Alhokair Group is Saudi Arabia’s largest valued retail corporation.
In 1978, Ajlan Alajlan founded a tiny business in Riyadh. He with his brothers now operate five garment factories in China and sell their products in over 6,000 retailers across the Gulf.