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Sawiris family dominates Forbes’ ‘World’s Richest Arabs 2018’ list - Daily News Egypt

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Sawiris family dominates Forbes’ ‘World’s Richest Arabs 2018’ list

Nassef Sawiris tops the list, while Naguib Sawiris came in the sixth spot

Forbes announced their “Billionaires 2018” and “The World’s Richest Arabs 2018” lists, which for the first time did not include any Saudis. In this year’s Arab list, 31 individuals were chosen, with a total wealth of $76.7bn. Egyptian construction and chemicals industry tycoon Nassef Sawiris topped the Egyptian and Emirati-dominated list with a net worth of $6.6bn, coming in the 251st place globally.

Nassef’s brother Naguib Sawiris came in the sixth place with a net worth of $4bn, and came in second among the top six Egyptian billionaires included in the list.

To put things in perspective, both Sawiris brothers’ net worth exceeded billionaire US president’s net worth, which recorded $3.1bn.

The Sawiris brothers were not the only Egyptian family included; Egyptian billionaire Mohamed Mansour came in the 10th place among the wealthiest Arabs, and the third Egyptian, with a net worth of $2.7bn, while Yasseen Mansour came in the 15th spot with a net worth of $1.9bn, and Youssef Mansour ranked 24th on the richest Arab list and sixth on the Egyptian wealthiest list with $1.4bn, following Mohamed Al-Fayed, who came in the 17 place on the Arab list and the fifth among wealthiest Egyptians.

On the other hand, the UAE had seven entries and the highest number of billionaires from one country, with Abdulla Bin Ahmad Al Ghurair leading the Emirati billionaire list and ranking second in the Arab countries, with a net worth of $5.9bn.

He was followed by real estate tycoon Majid Al Futtaim, who came in the third place with $4.6bn, and Hussain Sajwani with $4.1bn.

Other remarkable list entrees included the owner of Algeria’s biggest privately held company, Issad Rebrab, who came in fifth place on the Arab list, with $4bn worth of investment. Lebanon’s Prime Minister Saad Hariri was also listed with a net worth of $1.5bn.

Furthermore, on the “The World’s Billionaires” list, Amazon founder and CEO Jeff Bezos came in the first place as the world wealthiest person, with a net worth of $127.3bn, increasing by $1.1bn from the 2017 list.

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