Saudi Arabia has highest number of Arab billionaires: Forbes

04/04/2025 09:22 AST

Saudi Arabia has solidified its position as the leading hub for billionaires in the Arab world with 15 making it onto the Forbes global 2025 list - the highest in the region.

According to the Forbes World's Billionaires ranking, the wealth of the Saudis featured totaled $55.8 billion, representing 43.4 percent of the combined net worth of all Arab billionaires.

Leading the Saudi - and Arab - billionaire rankings is Prince Alwaleed bin Talal, with a net worth of $16.5 billion.

In the Middle East and North Africa region, the number of Arab billionaires has risen to 38, spread across nine countries, with a combined fortune of $128.4 billion- more than double last year's total of $53.7 billion.

Globally, the billionaire population has surpassed 3,000 for the first time, reaching 3,028 individuals- an increase of 247 from 2024. Their total net worth has also climbed to $16.1 trillion, up nearly $2 trillion from the previous year. The US remains the leader with 902 billionaires, followed by China and India.

"It's another record-breaking year for the world's richest people, despite financial uncertainty for many and geopolitical tensions on the rise," said Chase Peterson-Withorn, Forbes senior editor, wealth, adding: "And, from Elon Musk to Howard Lutnick and the other billionaires taking over the U.S. government, they're growing more and more powerful."

Saudi resurgence driven by new wealth
The Kingdom's strong showing comes after a surge in initial public offerings on the Saudi Exchange post-COVID-19, propelling 14 new billionaires onto the list.

Other prominent Saudi figures include healthcare magnate Sulaiman Al-Habib, with a fortune of $10.9 billion, and diversified business leaders Emad and Essam Al-Muhaidib, whose wealth stands at $3.8 billion and $3.6 billion, respectively.

The UAE followed with five billionaires holding a combined $24.3 billion, including real estate tycoon Hussain Sajwani at $10.2 billion and newcomers Hussain Binghatti Aljbori and Hussain Mohamed Alabbar.

Egypt also has five billionaires, led by construction and investment mogul Nassef Sawiris, with a net worth of $9.6 billion.

Top Arab billionaires reflect diverse industries
The wealthiest Arabs span industries from real estate and healthcare to telecom and investments.

Among the top names are the UAE's Abdulla Al-Futtaim, with $4.7 billion in the automotive industry, and Qatar's Sheikh Hamad bin Jassim Al-Thani, with $3.9 billion in the investment sector.

This year's rankings underscore the Kingdom's growing economic influence, with its billionaire count outpacing other Arab nations. The rise in regional wealth highlights the expanding opportunities in Gulf markets, particularly in real estate, healthcare, and finance.

Elon Musk retained his position as the world's richest person with a net worth of $342 billion, fueled by his ventures in electric vehicles, space exploration, and artificial intelligence.

Close behind is Meta CEO Mark Zuckerberg at $216 billion, followed by Amazon founder Jeff Bezos at $215 billion, as technology giants continue to dominate the upper echelons of wealth.

Oracle co-founder Larry Ellison ranks fourth with $192 billion, while Bernard Arnault, the French luxury magnate behind LVMH, rounds out the top five with $178 billion.

These five individuals represent a combined net worth of over $1.1 trillion, underscoring the influence of tech innovation and global consumer markets in shaping modern fortunes.