Saudi's Prince Alwaleed tops the 2014 richest Arabs list
Leading with $28.1 billion
Today, in a new survey published by Arabian Business, the Saudi prince came in first place in the magazine's yearly rich list. Prince Alwaleed who chairs Kingdom Holding, saw his wealth slip from $31.2bn last year, following a 20 percent decrease in the company's share price over the past year, however he has still earned the top spot once again.
Arabian Business noted that his privately held assets, mostly his real estate and media interests, had performed strongly, decreasing the impact of the fall in the Kingdom Holding shares. It is also the 11th year in succession that the prince has taken the number one slot on the prestigious list.
The annual listing of the word's 50 richest Arabs saw the Saudi-based Olayan family coming in second with $12 billion, with Brazil based Joseph Safra third on $11.9 billion.