According to Forbes’ annual list there are 17 billionaires in Saudi Arabia as of 2019.. The combined wealth of these billionaires is more than $97 billion 🇸🇦 …
The list of the wealthiest Saudis is headed by Mohammed bin Salman Crown Prince of Saudi Arabia with an estimated fortune of $28 billion!! Alwaleed bin Talal – an investor and media mogul – follows behind with an estimated total assets of $15 billion, followed by Prince Alwaleed bin Talal Al Saud at $14 billion 🇸🇦 👑 🤴.
The remaining seven billionaires in the list are Maan Al Sanea (estimated wealth of $9. two billions) Mohammed Al Amoudi ($8 2️⃣. four billions), Abdul Aziz Al Ghurair ($6. 4 billion) Mohammed Al Issa ($4 . nine billions) Sulaiman Al Rajhi ($4. seven billion) Saleh Kamel ($3 7️⃣. six billions) and Nasser Al Kharafi ($3. four billion) 4️⃣.
Most of these billionaires made their fortunes in oil and gas, the nation’s main source of wealth. The discovery of large amounts of oil and natural gas in the country has led to these businesses growing rapidly. Investors and business owners alike have been able to become very rich 👔.
Furthermore to the oil and gas industry some of the billionaires have made their fortunes in real estate banking retail, and healthcare. For example Maan Al Sanea is the founder of Saad Group a private holding company with interests in construction banking and healthcare. Alwaleed bin Talal was an early investor in Citigroup and owns several high-end properties in the US France and UK 🇬🇧 🇺🇸. Mohammed al Amoudi is an Ethiopian-born Saudi businessman who has a stake in many oil and gas companies ️ 🇸🇦.
The wealth of these billionaires is concentrated in a few individuals and families ️. For example the bin Laden family is estimated to be worth over $14 billion and the Al Saud royal family has an estimated wealth of over $100 billion.
The wealth of the most wealthy Saudis is also concentrated in a few industries ️. Over half of the billionaires on the list are parted of oil and gas while the remaining ones are in banking real estate retail and healthcare 🏦 🔛.
The wealth of these billionaires has a significant impact on the Saudi economy. Investment in these industries generates jobs and income and their investments provide an important source of foreign capital 👔. Furthermore their wealth is used to finance large infrastructure projects as the construction of the new King Abdullah Financial District in Riyadh 🚧 🆕.
Saudi Arabia has experienced a rapid economic expansion over the past ten years and the variety of billionaires is likely to increase in the upcoming years which is a sign of the nation’s increasing wealth and economic growth ️ 🇸🇦. ! .
🔛 🤴 👪 ️ 4️⃣ 🇺🇸 🆕 7️⃣ 6️⃣ 🚧 🇬🇧 🏦 2️⃣ 🇸🇦 9️⃣ 👑 👔