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THE world's 50 richest Arabs are worth a total of just over $245 billion (BD92.39bn), an 18 per cent increase on the same figure just over a year ago, the Arabian Business Rich List 2010 revealed this week.
Saudi Arabia has more entries than any other Arab state, with a giant $169.68bn spread across 32 players.
Coming in second is Kuwait, whose four entries represent $22.1bn.
In third place is the UAE, the Gulf's second largest economy, with $20.21bn across four entries.
Saudi also accounted for more new entries than any other country, with 20 of the 24 new faces calling the kingdom home.
Topping the list for the seventh year running is Kingdom Holding chairman Prince Alwaleed, whose wealth rose 13.3pc to $20.4bn.
In the No 2 slot is fellow Saudi Mohamed bin Issa Al Jaber, who increased his wealth from $9.7bn to $12bn.
The average wealth of those on the business list is $5.3bn.
Saudi's Olayan family is the biggest gainers in this year's Rich List released by arabianbusiness.com, adding a massive $5bn to their fortune over the past 12 months.
It's enough to push the family up five places to the No 3 spot in the 2010 rankings.
The wealth of the Top 10 in 2010 amounts to just shy of $100bn, a 16pc rise on last year.
The level for entry has also got higher - this year's No 50, Mohammed Alesayi, boasts a $1.7bn fortune.
Mr Alesayi has $200 million more than his predecessors, the Alghanim family, in 2009.
The title of highest new entry goes to Saudi Arabia's Bugshan family, in at No 8 with $7bn.
Just outside the Top 10 at number 12 is Bahrain's representative, The Kanoo Group, with $6.1bn.
One of the largest independent family-owned holding companies in the Gulf, the group was established in Bahrain in 1890 by Haji Yusuf bin Ahmed Kanoo.
The group has grown from its early trading and shipping business to become one of the most diversified and highly-regarded business houses in the region and beyond.
The company's joint venture division was established more than 25 years ago.
The company has been linked to high-profile names such as Axa Insurance, Norwich Union Insurance, Maersk, BASF, Johnson Arabia, Freightworks, British Standards Institution, Infineum (Exxon/Shell), Halliburton, Akzo Nobel, Thales, and Amec Plc.
