Worlds 50 richest Arabs are poorer this year. Bless.
The world’s 50 richest Arabs have lost a staggering $25 billion between them in the last year, as the global financial crisis sweeps through the region.The figures are revealed in the Arabian Business 2008 Rich List, which will be published on Sunday.
Their average fortune has slipped to $3.99 billion, down from $4.99 billion last year.
In total the the top 50 now hold between them $199.48 billion.
The colapse in the value of property and banking shares is blamed for their decline into relative poverty.