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The news wasn’t much better back here in the Middle East. Global stock markets have already posted record poor performances for the first week of the year, and the oil price just keeps on sliding.The Saudi bourse — by far the Arab world’s largest — was down 17 percent in 2015. But at least the names on our list can count themselves lucky they aren’t the Mexican billionaire, Carlos Slim, who saw bn wiped off his net worth in 2015.There are, of course, plenty of reasons for the drop, and there have been precious few safe havens over the course of the last year.If you had parked your cash into the relatively safe zone of US equities, you would have been disappointed — both the Dow and the S&P closed the year in negative territory, marking the worst year since 2008.The value of land owned by individuals has been estimated based on average market values between January 1, 2015 and December 31, 2015.As always we should stress that the figures are purely our assessment of wealth.Where not, we have judged a company’s value in comparison to that of a similar but listed company in the same country, based on an equivalent price/earnings ratio.Where no comparison is available, we have estimated the total value of all assets in a company, including those of subsidiary operations that could in theory be separately sold.
Our first list raised many eyebrows, and a number of individuals have since approached us to clarify what they thought was a more accurate reflection of their wealth, while others we had not included came forward to provide detailed figures of their wealth.As the article explained, "With 60 percent of the UAE economy made up of SMEs and with a rapidly expanding pool of entrepreneurs, tech and start-up companies in region, a growing number of businesses in the UAE will benefit immensely from the access to global talent." Behind these SMEs and global companies are powerful Arab business men with vision, passion, and determination, not to mention significant capital.Let's meet 51 of the seasoned business executives and up-in-comers, listed in no particular order of power or wealth, which you should know about that would be crucial to your business expanding to the Arab countries: This list captures the old guard, including the pioneers and seasoned veterans that have built the Arab's world infrastructure, business models, and economies.It hasn’t been the best of years for the world’s wealthiest people, and that has certainly had its effect on the Arabian Business Rich List, which is being published for the twelfth time.The total wealth of the 50 individuals and families we have ranked as the Arab world’s richest has fallen by 9 percent over the course of the last year — and virtually no-one remains unscathed.
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