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Mikati, Safra in top Forbes Arab-rich list

A file photo of Saudi Prince AlWaleed Bin Talal. (The Daily Star/Mohammed Azakir)

BEIRUT: Caretaker Prime Minister Najib Mikati, his brother Taha and Lebanese-Brazilian banker Joseph Safra are among the 10 richest Arabs, according to Forbes - Middle East.

Saudi Prince AlWaleed Bin Talal topped the 100-person richest Arabs list with a net wealth of $20 billion while Safra, who heavily invested in the Brazilian banking sector, came second with $15.9 billion.

Najib and Taha Mikati occupied the 8th positions with $3.5 billion each while Bahaa Hariri, the eldest son of the late Prime Minister Rafik Hariri, was ranked in the 15th position, with a wealth of $2.4 billion.

Former Prime Minister Saad Hariri’s wealth was estimated at $1.9 billion, ranking him in the 26th position. His brothers Ayman and Fahed ranked 31st, with a wealth of $1.35 billion each.

Saudi Arabia took the lion’s share of the list, with 41 businessmen in the list.

Lebanon came second in terms of wealth, with eight names including Safra’s brother Moise, whose wealth was estimated at $2.4 billion.

Egypt was represented by 13 businesspersons including the Sawiris family with a total wealth of $9 billion and Mohammad Fayed with $1.4 billion.

As in its international version, the list by Forbes Middle East, a licensed publication of the renowned Forbes magazine, is calculated on public stock market information and does not include personal wealth.

Najib Mikati was ranked the 384th richest man in the world and the wealthiest in Lebanon, followed by his brother, Forbes said in March.

In 1982 the Mikati brothers founded Investcom, a telecommunications company, which was in 2006 sold to South Africa's MTN Group for $5.5 billion.

 

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