Dubai at night. Source of the photo: atalayar.com

Arab billionaires have been affected by the economic crisis triggered by the pandemic and have lost some of their wealth like the other world billionaires.

They lost about 19.4 % of their wealth in the period from 2019 to 2020.

Arab billionaires were also not insulated from the downturn, with the number of billionaires reduced to 21, down from 24 last year, with three billionaires dropping off the list, one passing away and one making a comeback.

Nassef SAWIRIS is again the world’s richest Arab world, with $5 billion.

Mohammed MANSOUR was the year’s biggest gainer, gaining $1 billion. His net worth grew 43.4% to $3.3 billion from $2.3 billion last year, making him the fourth richest Arab.

The net worth of Majid Al FUTTAIM dropped by $1.8 billion, or 35%, as his Eponymous Company made a loss in 2019.

Hussain SAJWANI lost the most this year, with his fortune down 41% due to a weak real estate market.

 

The list of the 10 richest Arabs in the world

  1. Nassef SAWIRIS

Country: the Arab Republic of Egypt.

Activity: Construction and chemicals.

Company: Orascom Construction Industries SAE.

Orascom Construction, an engineering and building firm, trades on the Cairo exchange and Nasdaq Dubai. His holdings include stakes in cement giant Lafarge Holcim and Adidas; he sits on the supervisory board of Adidas.

The net worth in 2020 is $5 billion.

  1. Issad REBRAB & family

Country: the People’s Democratic Republic of Algeria.

Activity: Food- Self Made.

He is the founder and CEO of Cevital, Algeria’s biggest private company that owns one of the largest sugar refineries in the world. Cevital owns European companies, including French home appliances maker Groupe Brandt, an Italian steel mill and a German water purification company.

The net worth 2020 is $4.2 billion.

  1. Abdulla bin Ahmed Al GHURAIR

Country: the United Arab Emirates.

Founded Mashreqbank, a leading UAE bank, in 1967.

His eponymous holding company has interests in food, construction, and real estate; non-family members are part of the leadership team.

Al Ghurair Foods claims to have the biggest pasta factory in the Middle East (Jenan is the selling brand of pasta).

His construction company did the exterior cladding of Burj Khalifa, the world’s tallest building, and participated to the building of the Dubai Metro.

The net worth in 2020 is $3.7 billion.

  1. Mohamed MANSOUR

Country: the Arab Republic of Egypt.

Activity: Diversified- Self Made.

He oversees the family Mansour Group, which was founded by his father Loutfy in 1952 and has 60.000 employees.

Mansour established General Motors dealerships in Egypt in 1975 and became one of the biggest distributors of GM worldwide.

Mansour Group also has exclusive distribution rights for Caterpillar equipment in Egypt and seven other African countries.

From 2006 to 2009 he was Egypt’s Minister of Transportation under the Hosni MUBARAK regime.

The net worth in 2020 is $3.3 billion.

  1. Majid Al FUTTAIM

Country: the United Arab Emirates.

Activity: Real estate- retail.

He founded retailing and entertainment giant Majid Al Futtaim Holding (MAF), in 1992.

MAF owns and operates 13 hotels and 24 malls, including Mall of the Emirates in Dubai and the Mall of Egypt in Cairo. It also has the exclusive license to operate hypermarkets Carrefour across the Middle East, North Africa and Central Asia.

The net worth in 2020 is $3.3 billion.

  1. Naguib SAWIRIS

Country: the Arab Republic of Egypt.

Activity: Telecom.

He is a scion of Egypt’s wealthiest family. He built a fortune, selling in 2011 Orascom Telecom to Russian telecom firm VimpelCom (now Veon) in a multibillion-dollar transaction.

He’s chairman of Orascom TMT Investments, which has stakes in a major asset manager in Egypt and an Italian internet company, among others.

Family holding La Mancha has stakes in Evolution Mining, Endeavour Mining and Golden Star Resources, which operate gold mines in Africa and Australia. SAWIRIS is the majority owner in Euronews.

He’s also developed a luxury resort called Silversands in Grenada.

The net worth in 2020 is $3 billion.

  1. Yasseen MANSOUR

Country: the Arab Republic of Egypt.

Activity: Diversified – Self Made.

He is a shareholder in the family conglomerate Mansour Group, which was founded by his father Loutfy in 1952.

He’s chairman of Palm Hills Developments, one of Egypt’s biggest real estate developers.

The net worth in 2020 is $2.2 billion.

  1. Taha MIKATI

Country: the Republic of Lebanon.

Activity: Telecom-Self-made.

He is the co-founder, with his billionaire brother Najib, of Beirut-based holding company M1 Group.

His investments include stakes in South African telecom MTN, fashion retailer Pepe Jeans, and prime real estate in New York, London and Monaco.

Mikati and his brother Najib founded Investcom in 1982, selling satellite phones at the height of Lebanon’s civil war.

They built cell-phone towers in Ghana, Liberia, and Benin, among other countries.

The net worth in 2020 is $2.2 billion.

  1. Najib MIKATI

Country: the Republic of Lebanon.

Activity: Telecom-Self-made.

He is the co-founder, with his billionaire brother Taha, of Beirut-based investment firm M1 Group.

His investments include stakes in South African telecom MTN, fashion retailer Pepe Jeans, and prime real estate in New York, London and Monaco.

Mikati and his brother Najib founded Investcom in 1982, selling satellite phones at the height of Lebano’’s civil war.

They built cell phone towers in Ghana, Liberia, and Benin, among other countries.

The net worth in 2020 is $2.1 billion.

  1. Suhail BAHWAN

Country: the Sultanate of Oman.

Activity: Diversified-Self Made.

He is the founder and chairman of Suhail Bahwan Group, one of the largest conglomerates in Oman, the major producer of fertilizers.

It also owns Nissan and BMW dealerships.

He started the business with his brother Saud in 1965, selling fishing nets and building materials, before scoring the Toyota dealership in 1975. In 2002, he split with his brother, who kept the Toyota dealership and passed it along after his death to his son.

The net worth in 2020 is $2.1 billion.

  1. Abdulla Al FUTTAIM

Country: the United Arab Emirates.

Activity: Auto dealer’s investments.

He owns Al Futtaim Group, run by his son Omar, who is vice-chairman. In 1955, the group became the exclusive distributor in the U.A.E. of Toyota.

Al FUTTAIM also has the license to operate Hertz, Ikea, Toys “R” US, and Zara in the U.A.E. The retailers anchor its malls, which include Dubai Festival City and Cairo Festival City.

The net worth in 2020 is $2.1 billion.

  1. Bahaa HARIRI

Country: the Republic of Lebanon.

Activity: Real Estate-Investments.

Is the eldest son of former Lebanese Prime Minister Rafik HARIRI, he inherited his fortune from his father, who was a billionaire.

He sold in 2008, his stake in Saudi Oger, the family construction business, to his brother Saad HARIRI.

He founded and chairs Horizon Group, a real estate holding company with investments in Amman, Jordan, and Beirut, Lebanon. He helped revitalize the Abdali area of Amman. The project, in partnership with the Jordanian government, is worth an estimated $5 billion. He’s the majority owner of Globe Express Services, a logistics company with a presence in more than 100 countries.

The net worth in 2020 is $2 billion.

  1. Youssef MANSOUR

Country: the Arab Republic of Egypt.

Activity: Diversified-Self Made.

He is chairman of the family-owned conglomerate Mansour Group.

Mansour Group is the exclusive distributor of GM vehicles and Caterpillar equipment in Egypt and several other countries. He oversees the consumer goods division, which includes supermarket chain Metro, and sole distribution rights for L’Oreal in Egypt.

The net worth in 2020 is $1.9 billion.

  1. Robert MOUWAD

Country: the Republic of Lebanon.

Activity: Fine jewelry.

He inherited the family’s eponymous high-end jewelry business that his grandfather founded in Beirut in 1890.

Robert MOUWAD also owns extensive real estate and has developed luxury residences on a man-made island in Bahrain.

The net worth in 2020 is $1.5 billion.

 

This article was edited using the data from the Atalayar.com, Stepfeed.com, and Forbesmiddleeast.com.

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