NewsExpress banner Firstbank Verve banner Fidelity bank card banner Umm Sulaim's Thoughts Camano banner

Forbes removes Saudi moneybags from billionaires list after corruption purge

By News Express on 08/03/2018

Gmail icon

Views: 990

•Saudi billionaire, Prince Alwaleed bin Talal
•Saudi billionaire, Prince Alwaleed bin Talal

Forbes magazine said on Thursday it was excluding all Saudi Arabian tycoons from its annual list of the world’s richest people after dozens of top businessmen from the oil-rich-kingdom were detained in a crackdown on corruption last year.

Most detainees were released after reaching settlements with the authorities, who say they arranged to seize more than 100 billion dollars in assets through such deals.

But the government has provided few details about who was netted in the sweep, what they were accused of and how much they gave up.

Forbes said earlier in the week that it was “impossible to know definitively who gave how much to whom and when”.

The magazine said it had removed the 10 Saudi billionaires who made the cut last year, including those detained in the crackdown like Prince Alwaleed bin Talal.

Talal is said to be with wealth previously valued at 18.7 billion dollars and Mohammed al-Amoudi, whose treasure stood at 8.1 billion dollars.

“With greater clarity regarding their wealth, some might eventually return to the ranking,” Forbes said.

The magazine’s Middle East edition said in a separate statement on Thursday that the wealth of Saudi billionaires was believed to have increased from 42.1 billion dollars last year.

It was so, due to the rise in oil prices and capital markets globally but would be excluded due to the reported asset seizures.

Alwaleed, who told reporters in an interview hours before his release in January that he did not expect to give up any assets to the government, sued Forbes in 2013, alleging the magazine had under-valued his wealth.

The magazine listed 2,208 billionaires worldwide in 2018, up from 2,043 in 2017. (Reuters/NAN)

Source News Express

Posted 08/03/2018 7:24:39 PM

 

 

CLASSIFIED ADS

 

You may also like...
Bayelsa 2016: Kinsmen endorse Governor Dickson for re-election,...

Unprecedented number of Americans renouncing U.S. citizenship

What is wrong with Anambra Catholic Bishops?

$16bn power projects: Refer OBJ, Jonathan to EFCC,...

Jonathan, Yero, ACF mourn Umaru Dikko

Deltans not deceived by opposition’s campaign of calumny...

Hepatitis: Stay away from contaminated food, water, unprotected...

Gunmen abduct 42 travellers; strip female passengers

Anyaoku, others hail Obi over Emeka Anyaoku Dialysis...

The Lord is My Shepherd…, By Olusegun Adeniyi...

El-Zakzaky: Scores injured in fresh police, Shiites clash...

Cool your temper, Nigerians; May 29 remains handover...

 

Latest News Biafra Agitation: Avoid British mistake in Northern Ireland, Ohakim warns political leaders Minimum wage: Governors move to meet Dec 31 deadline Sharia Palaver: CAN demands immediate sack of CJN •Says more Sharia contents in Constitution provocative, unacceptable Leah Sharibu confirmed alive! Obaseki, Oshiomhole feud tears APC apart Rule of Law: World Igbo Congress descends on Buhari, Osinbajo Former governors in the eye of the storm US gives Biya 72 hours to withdraw troops from Anglophone Region Yuletide: Enugu Government approves 13th month salary, as civil servants receive Dec. pay New Emirates split Kano elders Police parade 48 suspected cultists, kidnappers, others in Edo FG to disconnect Benin, Togo over $16m power supply debts

 

Most Read NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (572,973 views) Nigerian female sex addict opens up, says ‘I like it with both men and women’ (457,092 views) Shameless Genevieve Nnaji exposes breasts in public (407,107 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (341,851 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (308,356 views) 10 cars more expensive than Jets (293,060 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (261,586 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (260,859 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (242,280 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (228,692 views) Lagos plane crash: Journalist releases victims’ names (204,368 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (200,681 views)

 

CBN milk production

CBN banner advert

UBA Wise Savers Promo

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (112) Business & Economy (4,624) Business Verdict (89) Columnists (1,158) Complaints & Requests (98) Enterprise & Opportunities (221) Entertainment (719) Features (855) Global Business Monitor (499) ICT Monitor (73) International (4,327) Interview (220) Live Commentary (30) Love Matters (179) Maggie's Blog (520) News (55,293) Opinion (1,441) Pidgin (18) Politics (11,895) Religion (1,133) Sports (2,257) Stock Watch (41) AMA & Al Jazeera Global Update

 

 

 

 

 

 

APO Group Partner

 

 

CLASSIFIED ADS

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera