The 19 richest billionaires in the GCC

Saudi Arabia’s Prince Alwaleed leads the pack with a 17.3 billion fortune, but who else makes the cut?

Meryl D'Souza March 6, 2016

Last week, Forbes released their annual billionaires rich list that makes us regular folk look at our bank accounts and feel utterly worthless.

Don’t worry though, you’re not the only one suffering from the volatile markets. According to Forbes, the world became poorer by $70 million and the number of billionaires decreased from last year’s record 1,826 to 1,810 this year. 

We scavenged the list to find the richest people with 10-digit bank balances from the GCC. While Saudi Arabia leads the other member countries with six representatives, UAE comes in second with five.

However, the number of billionaires in the UAE (12) significantly surpasses the number in Saudi Arabia (5). That’s because of the six Indian-origin billionaires with their business empires in the UAE.

Here’s a complete list of the 19 billionaires in the Gulf:

1. Prince Alwaleed Bin Talal Alsaud

Age: 60
Country: Saudi Arabia
Net Worth: 17.3 billion
Occupation: Chairman & CEO of Kingdom Holding Company 


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2. Mohammed Al Amoudi 

Age: 69
Country: Saudi Arabia
Net Worth: $8.3 billion
Occupation: Owner Corral Petroleum Holdings and MIDROC


3. Majid Al Futtaim

Age: -
Country: United Arab Emirates
Net Worth: $5 billion 
Occupation: Investor


4. Abdulla bin Ahmad Al Ghurair

Age: -
Country: United Arab Emirates
Net Worth: $4.9 billion
Occupation: Diversified


5. Micky Jagtiani

Age: 64
Country of residence: United Arab Emirates
Net Worth: $4.4 billion
Occupation: Owner of Landmark retail stores group


6. M.A. Yusuff Ali

Age: 60
Country of residence: United Arab Emirates
Net Worth: $4.2 billion
Occupation: Managing Director EMKE LuLu Group


7. Prince Sultan bin Mohammed bin Saud Al Kabeer

Age: 62
Country: Saudi Arabia
Net Worth: 3.4 billion
Occupation: -


8. Hussain Sajwani

Age: 63
Country: United Arab Emirates
Net Worth: - $3.2 billion
Occupation: CEO and founder of the DAMAC Group


9. Abdulla Al Futtaim

Age: -
Country: United Arab Emirates
Net Worth: $3.1 billion
Occupation: Owner of Al-Futtaim Group


10. Ravi Pillai

Age: 62
Country of residence: United Arab Emirates
Net Worth: $2.9 billion
Occupation: Head of RP Group of companies


11. Mohammed Al Issa

Age: 91
Country: Saudi Arabia
Net Worth: $2.3 billion
Occupation:Investor


12. Saif Al Ghurair

Age: 92
Country: United Arab Emirates
Net Worth: $2.2 billion
Occupation: Diversified


13. Faisal Bin Qassim Al Thani

Age: 68
Country: Qatar
Net Worth: $2 billion
Occupation: Diversified


14. Saleh Kamel

Age: 74
Country: Saudi Arabia
Net Worth: $1.9 billion
Occupation: Chairman and founder of the Dallah al Baraka Group


15. Sunny Varkey

Age: 58
Country of residence: United Arab Emirates
Net Worth: $1.9 billion 
Occupation: Education entrepreneur 


16. B.R. Shetty

Age: 74
Country of residence: United Arab Emirates
Net Worth: $1.8 billion
Occupation: Chief Executive Officer & Managing Director of New Medical Centre Group of Companies and UAE Exchange


17. Azad Moopen

Age: 62
Country of residence: United Arab Emirates
Net Worth: $1.5 billion
Occupation: Chairman and Managing Director of Aster DM Healthcare


18. P.N.C. Menon

Age: 67
Country: Oman
Net Worth: $1.5 billion
Occupation: Founder of Sobha Ltd


19. Abdullah Al Rajhi

Age: -
Country: Saudi Arabia
Net Worth: $1.4 billion 
Occupation: Founder and owner of the second largest individual stake in the Al-Rajhi Bank