The Top 20 Billionaires of Middle East And Africa
Prince Alwaleed bin Talal Alsaud
GLOBAL RANK: 29
SAUDI ARABIA, Investments
The Middle East’s richest capitalist garners most of his net worth—some $10.7 billion—from a 95% stake in his Saudi-listed investment vehicle, Kingdom Holding Co, whose assets include shares in Apple, Citigroup and part of the Four Seasons Hotels. The drop in the Prince’s net worth since last year is due to lower estimates by Forbes of the value of some of his private real estate holdings, his airplanes and his yacht.
Mohammed Al Amoudi
GLOBAL RANK: 61
SAUDI ARABIA, Diversified
The son of a Saudi father and an Ethiopian mother, Al Amoudi made his initial fortune in construction in Saudi Arabia and recently expanded into agriculture in Ethiopia, where he is growing rice, corn and other staples. His most valuable asset is Preem, his Swedish oil refinery. He also owns oilfields off West Africa. In July his Midroc Gold discovered over 33,000 kilograms of gold deposits.
GLOBAL RANK: 76
NIGERIA, Sugar, Flour, Cement
Commodities titan Dangote is now expanding his cement empire. In February he opened a new $1 billion cement plant in Nigeria. He also plans to invest $4 billion for a cement facility in Ivory Coast. Other assets include sugar, flour firms.
Mohamed Bin Issa Al Jaber
GLOBAL RANK: 133
SAUDI ARABIA, Real Estate, Hotels
He owns a string of luxury and budget hotels in Europe and Egypt through JJW Hotels & Resorts and operates compounds for expats in Saudi Arabia. In December, he settled a heated dispute with Standard Bank in London.
Nicky Oppenheimer & family
GLOBAL RANK: 139
SOUTH AFRICA, Diamonds
Oppenheimer made the momentous decision in November to sell his family’s 40% stake in De Beers to Anglo American for $5.1 billion. This will mark the end of a relationship that began when Nicky’s grandfather took over the firm in 1927.
GLOBAL RANK: 161
ISRAEL, Shipping, Oil
Idan and his brother Eyal inherited an equal share of their late father Sammy’s fortune last summer. Idan got the Quantum Pacific Group, which holds the Ofer stake in Israel Corp, and Pacific Drilling, which went public in the US and has since risen in value.
GLOBAL RANK: 169
ISRAEL, Mining, Diamonds
Last year he poured $100 million into his real estate company, Scorpio, in exchange for rescheduling debt payments until 2018. That followed a $130 million loan from Steinmetz to fuel operations. However, his fortune was buoyed by selling 51% of his iron ore company in Guinea to Brazil’s Vale for $2.5 billion. His group recently announced that spinoff diamond mine company Octea plans to list on the Hong Kong Stock Exchange.
Sulaiman Al Rajhi
GLOBAL RANK: 169
SAUDI ARABIA BANKING
Al Rajhi announced plans in May 2011 to donate the bulk of his fortune to charity. “How can you satisfy your hunger while your neighbour is spending the night hungry?” he asked. His drop in net worth from $7.7 billion in 2011 reflects a partial gifting of his fortune. With his brothers, Al Rajhi founded one of the world’s largest Islamic banks, Al Rajhi Bank.
GLOBAL RANK: 173
ISRAEL, Shipping, Real Estate
Inherited his father’s fortune with brother Idan. Eyal has extensive real estate holdings, including 15 Central Park West in Manhattan. The brothers share a shipping fortune and a vast art collection.
GLOBAL RANK: 199
SOUTH AFRICA, Luxury Goods
Chairs Richemont, a Swiss company whose brands include Cartier, Alfred Dunhill, Montblanc and Chloé. In 2010 it acquired online fashion portal Net-a-Porter for $343 million. Sales at the Richemont group have been on the rise, driven by increased demand for luxury goods in Asia.
Rupert has made headlines of late by opposing Royal Dutch Shell’s planned hydraulic fracturing operations in the Karoo region of South Africa, where he owns extensive conservation land.
Images: Amoudi: Hans Berggren; Alsaud: Getty Images; Dangote : Mike Hutchings / Reuters; Jaber: Benkoe / PPS Vienna; Oppenheimer: Stefan Wermuth / Reuters; Ofer : Simon Dawson / Bloomberg; Rajhi: Fahad Shadeed / Reuters; Rupert: Dave M. Benett