For the sixth year in succession, HRH Prince Alwaleed tops our Rich List. And not only that, but against an economic downturn HRH has actually managed to increase his wealth in the last twelve months by nearly a billion dollars to $18bn.
We may be in the middle of the worst recession in living memory, but our calculations suggest that HRH will top our rich list for several more years to come. It is the latest remarkable achievement of a remarkable career.
Last year, in co-operation with his office, we were able to make the most detailed assessment ever of his HRH’s wealth. This was broken down into five areas: first, the publicly traded stocks, which all fall under
Kingdom Holding Company
. Second, the major companies outside
KHC
(namely Rotana and LBC) which come to $1.6bn, and a smaller engineering concern valued at just $11m. Third is the Prince’s real estate, at exactly $3.196bn.
Fourth, other major assets valued at $1.679bn. A large chunk of this – $822m – is the value of his transportation assets (including planes and cars).
The rest is made up by his jewellery collection, his investment in a French port and his stakes in Lebanese and Palestinian companies. The fifth part of his wealth is held entirely in cash deposited at various banks.
On December 14 this year, the market value of
Kingdom Holding
was $7.9bn, slightly lower than last year’s figure of $7.98bn.
However with a revaluation of his cash held in banks and also of the major assets held by HRH, our new figure this year comes in at exactly $18bn.
As with last year, this figure has been verified by HRH’s private office as being accurate according to their own figures.
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