UAE’s Richest Climb Up World’s Billionaires List

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The 2014 World’s Top Billionaires list was released yesterday by the American magazine Forbes. Not surprisingly, Bill Gates tops the ranking again. Microsoft’s founder and shareholder continues to lead with a wealth of $76 billion. A curious fact about Gates is that he has been dubbed the world’s wealthiest person 15 times over the last 20 years. No wonder that Forbes also ranks him among the world’s most powerful people.

The rest of the top ten is made up of the usual suspects. Among them are last year’s leader Carlos Slim Helu, who continues to be Mexico’s richest. With a wealth of $64 billion, Amancio Ortega maintains his third spot. Similar is the case with Warren Buffett who continues to the fourth wealthiest person in the world with a net worth of $58.2 billion.
The new entries among the world’s ten richest are Sheldon Adelson (8), Christy Walton (9) and Jim Walton (10). Although all three of them were in the top 20 last year, they managed to climb the list by increasing their wealth further.

  • Bill Gates – $76 billion
  • Carlos Slim Helu & family – $72 billion
  • Amancio Ortega – $64 billion
  • Warren Buffett – $58.2 billion
  • Larry Ellison – $48 billion
  • Charles Koch – $40 billion
  • David Koch – $40 billion
  • Sheldon Adelson – $38 billion
  • Christy Walton & family – $36.7 billion
  • Jim Walton – $34.7 billion

As for the United Arab Emirates, the country has four billionaires in the list this year. Each of them has successfully increased their wealth over the last one year. The highest ranked of them is Abdulla bin Ahmad Al Ghurair and family. He occupies the 305th spot with a wealth of $4.8 billion. In that way, he makes a giant leap forward by rising with over 100 positions. Forbes shares that Abdulla’s source of wealth is diversified. However, it reminds that he is the founder of one of UAE’s main banks today – Mashreqbank.

A few spots down the list is UAE’s Majid Al Futtaim. His net worth of $4.5 billion places him on the 328th position this year. In comparison, in 2013 he was ranked at the 376th spot. His company operates various hypermarkets and malls not only in the Middle East region, but also in Africa and even in Central Asia.

The next two UAE’s billionaires, who found a place on Forbes’ 2014 ranking, are both listed outside the top 600. Saif Al Gharair & family takes the 609th spot, while Abdulla Al Futtam is ranked under 687th place. Saif’s wealth is estimated at $2.8 billion. Although he is best known as the formal chairman of Al Ghurair Group, his source of wealth is diversified. What it impressive about him, is that for just one year he managed to improve his ranking with over 400 positions. Abdulla Al Futtam, on the other hand, climbed with more than 230 spots by increasing his net worth to $2.5 billion.

Youngest on the list this year is Perenna Kei who has $1.3 billion. This is her debut on the Forbes’ ranking in which she takes the 1248 place. Kei has an 85% stake in Logan Property Holdings although she is barely 24 years old. The oldest billionaire, on the other hand, is David Rockefeller, Sr. His wealth amounts to $2.9 billion and oil and banking industries are its main sources.

The highest ranked woman on Forbes’ 2014 Billionaire’s list is Christy Walton. She shares $36.7 billion with her family. That ranks her at the 9th position this year and makes her the richest woman in the world. In that way, she steals the titles L’Oreal Heiress Liliane Bettencourt who was the wealthiest lady in the world over the last few years.

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