Cairo – Mubasher: The total wealth of Arab billionaires fell by $11.4 billion to $47.3 billion in 2020 from $58.7 billion a year earlier due to the economic downturn caused by the novel coronavirus (COVID-19) pandemic, Forbes said.
The number of Arab billionaires dropped to 21 in 2020 from 24 a year earlier, according to data as of 18 March.
The Egyptian mogul Nassef Sawiris topped Forbes’ list of the wealthiest Arabs in 2020 with a net wealth of $5 billion from $6.4 billion in 2019.
The Algerian Issad Rebrab and family came in the second place with a net worth of $4.2 billion, followed by the Emirati tycoon Abdullah bin Amed Al Ghurari and his family with $3.7 billion.
The Egyptian businessman Mohammed Mansour gained $1 billion to $3.3 billion in 2020 to be the fourth richest Arab, compared to $2.3 billion last year.
The net worth of Majid Al Futtaim and family shrank by $1.8 billion to $3.3 billion, making him the fifth wealthiest Arab in 2020.
Naguib Sawiris came in the sixth place with a net worth of $3 billion, followed by Yasseen Mansour with $2.2 billion, the Lebanese Taha Mikati and Najib Makati with $2.2 billion and $2.1 billion, respectively, and the Omani Suhail Bahwan with $2.1 billion.
The list doesn’t include Saudi Arabian billionaires for the third consecutive year, while Egypt and Lebanon dominated the list.
