Monday, March 10, 2008

Forbes lists 10 Lebanese among world's billionaires

Forbes lists 10 Lebanese among world's billionaires
Daily Star staff

BEIRUT: Forbes magazine's annual survey of the world's billionaires for 2008 included on its list 10 persons of Lebanese descent, among them six members of the family of assassinated former Prime Minister Rafik Hariri, two members of the Mikati family, as well as cousins Said Khoury and Hassib Sabbagh, as reported by Lebanon This Week, the economic publication of the Byblos Bank Group. The survey ranked the leader of the parliamentary majority, MP Saad Hariri Saad-Hariri-Profile Sep-07, in 334th place with an estimated fortune of $3.3 billion, up from 407th place and $2.3 billion in 2007, followed by his brother Bahaa Hariri in 349th place with a fortune of $3.2 billion, up from 432nd place and $2.2 billion.

Forbes said the Hariri family's wealth is derived from investments in Saudi Arabia and many other countries in Europe, Africa and the Middle East in banking, real estate, tourism, telecommunications and media. Former Prime Minister Najib Mikati and his brother Taha Mikati ranked in 446th place with a net worth of $2.6 billion each, down from 407th place but up from $2.3 billion each in 2007. The magazine said the Mikati brothers made their fortune in telecommunications and have large holdings in the sector. Ayman Hariri and his brother Fahd Hariri, the late Rafik Hariri's youngest sons, came in 524th place with $2.3 billion each, up from 618th place and $1.6 billion each last year. The late premier's widow Nazek ranked in 843rd place with a fortune of $1.4 billion, up from 891st place and $1 billion in 2007, while her daughter Hind came in 1,014th place with a fortune of $1.1 billion. According to Forbes, that makes Hind Hariri the world's youngest billionaire.

This year's list included two newcomers from Lebanon who are the founders of the Consolidated Contractors Company (CCC), one of the largest construction firms in the Arab world. Saeed Khoury ranked in 962nd place with a net worth of $1.2 billion and his cousin Hasib Sabbagh came in 1062nd place with $1 billion.

The Forbes 2008 list of the world's richest people also included a list of billionaires of Lebanese decent, including Carlos Slim Helu, Joseph Safra, and Nicholas Hayek among others. The wealthiest man in the Middle East is Saudi Prince Al-waleed bin Talal, who ranked in 19th place worldwide with $21 billion, while the richest man in the world is American investor Warren Buffet with a fortune of $62 billion, replacing Microsoft founder Bill Gates, who lost the top spot for the first time in 13 years. - The Daily Star


BionicScribe said...

Quite an interesting blog. Lebanon is one country that has fascinated me since i read an autobiography long ago written by a Lebanese christian. However, other than discovering the wonderful cuisine my knowledge hasn't increased beyond what is presented in Western media. And as one article posted by you had mentioned there is no way we who are far removed can ever get the correct picture.
I think your blog might rectify that to some extent.

Mrsmumi said...

I love ur blog. It's really interesting=) keep on the good work!

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