It is not too late to share the list of the Forbes World's Richest Arabs and subsequently the Richest Egyptians. Inshallah, I am planning to make it an annual tradition for Egyptian Chronicles.
The Arabic edition of the famous magazine published this list in April, and I'd like to share it with you now.
I must mention that Forbes Middle East has not included Saudi billionaires on its list since 2018. The list is based on published information and assets.
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Egypt's richest men from left to right: Nassef Sawiris, Mohamed Mansour, Naguib Sawiris, Mohamed El-Fayed, Youssef Mansour and Yasseen Mansour |
As Arabs, we are aware that there is another unofficial list of the Richest Arabs whose fortunes remain secret and unknown. This secret list includes Arab rulers, except for the Lebanese ruling class because we have figures like Mikatis and Hariris who have their own business empires.
Now, let's turn our attention to this year's list. According to Forbes' World's Billionaires 2023 ranking, there are 2,640 people featured, down from 2,668 in 2022. Collectively, billionaires are now worth US $12.2 trillion—US $500 billion less than in March last year—and believe it or not, nearly half of them are poorer than they were in 2022.
In an interesting twist, for the second year in a row, Egypt and Lebanon have the highest number of billionaires in the region, with six entries each. It's worth noting that we have the same individuals as last year, but their rankings have changed.
According to Forbes, Nassef Sawiris of Egypt retains his position as the richest Arab and Egyptian in the world, with a net worth of US $7.4 billion. He also ranks as the fifth richest African. This year, his global rank is 305th, slightly lower than his position in 2022 when he was ranked 304th.
The drop in Nassef Sawiris' global ranking is due to a decrease of US $300 million in his wealth compared to 2022.