Which Gulf country has the most billionaires? Take a wild guess
Saudi Arabia tops the list of Middle East’s billionaires, with 64 highly wealthy individuals possessing $204 billion in 2013, the Wealth-X and UBS World Ultra Wealth Report said.
“There are 1,360 rich people in the Kingdom with a total wealth of $285 billion,” the report pointed out.
The UAE came second with 1,050 billionaires with a total wealth of $190 billion, followed by Kuwait with 845 wealthy persons having $145 billion.
The report said that 37 highly rich Emiratis possessed $45 billion. About 5,300 rich people in the Middle East have a wealth of $880 billion.
“Despite ongoing economic and geopolitical uncertainties, the world’s ultra wealthy population reached an all-time high of 199,235 individuals with a combined fortune of nearly $28 trillion in 2013, growing by more than 6 percent in population size from the previous year,” the report said.
During 2013, they added $2 trillion to their combined wealth, which is greater than the GDP of India.
The report also identified more than 2,000 billionaires globally with a total net worth of $6.5 trillion.
As of 2013, there are 44,505 ultra-high-net-worth individuals in Asia with a combined wealth of $6.5 trillion, an increase of 5.4 percent from the previous year.
Although the US and Europe grew faster than Asia in the past 12 months, Asia will produce more ultra-high-net-worth individuals and wealth than both regions in the next five years, the report added.
- Deflation shocks in emerging markets and the GCC currency peg
- Crashing oil: has the time come for GCC countries to tax their citizens?
- Moody indeed: how did Moody's rate the ME's banks for 2015?
- The Middle East's Switzerland? Lebanon's banking secrecy is here to stay
- Precious retirement: why UAE expats are moving their pensions out of the UK
- 8-year-old Yemeni child dies at hands of 40-year-old husband on wedding night
- Take a wild guess: Mastercard to open first service center outside the US in this ME city
- Money, money, money: Where are the Middle East's billionaires from?
- Mansour bin Zayed new entrant to 2009 Arab billionaire list as UAE ranks second with combined billionaire wealth of USD 21.4 billion