Fidelity bank card banner Camano banner

Forbes removes Saudi moneybags from billionaires list after corruption purge

By News Express on 08/03/2018

Views: 928

•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...
Kidnappers dare Governor Ambode, abduct 7 persons in...

Abortion a ‘horrendous crime’: Pope

2019: Group charged with actualising Igbo presidency inaugurated...

Nigeria squanders N105.8B in 7 days (PLUS: Those...

Wike mocks Rivers APC candidates, slams Buhari

Magu clarifies accusation of lawyers, judges, vows not...

RIGHTSView: Has the Nigerian educational system collapsed?

It’s impossible to impeach the President under Nigeria’s...

Okada ban: Army, police barred from riding motorcycles...

Nigeria to export 400 locally made vehicles to...

nPDP gives PDP conditions for alliance

Soldiers kill vigilante chairman, rights group demands probe...

 

Latest News Ekweremadu tackles Nnamdi Kanu Why Boko Haram is yet to being won — Ex-lawmaker Junaid Mohammed Warning strike: Non-academic staff ground varsities Taraba killings: Detectives trail principal suspect to Middle Belt, Northeast and Southeast Boko Haram war consumes 40,000, displaces 3 million persons Stakeholders fault FG’s planned closure of Enugu Airport 35-year-old dismissed Police Inspector paraded for impersonating DSP in Anambra •CP denies N15m bail fee on Baby Awka Aboru (Lagos) residents decry exploitative bills by Ikeja Electric Ekweremadu’s sartorial indiscretion and IPOB wrestlers, By Meduoye Adeyinka UNICEF to pregnant women: Register early for antenatal care to curtail maternal mortality 2019 Bayelsa Guber: I am the candidate to beat, boasts Geoge-Ikoli •Says APC can never win Bayelsa State CBN vows to defend reserves in wake of UK $9bn court ruling

 

Most Read NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (528,273 views) Nigerian female sex addict opens up, says ‘I like it with both men and women’ (438,294 views) Shameless Genevieve Nnaji exposes breasts in public (383,136 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (321,969 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (289,980 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (251,067 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (245,697 views) 10 cars more expensive than Jets (232,495 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (227,724 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (213,967 views) Lagos plane crash: Journalist releases victims’ names (192,897 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (190,832 views)

 

CBN milk production

CBN banner advert

UBA Wise Savers Promo

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (98) Business & Economy (4,396) Business Verdict (79) Columnists (1,094) Complaints & Requests (95) Enterprise & Opportunities (215) Entertainment (647) Features (795) Global Business Monitor (419) ICT Monitor (58) International (3,848) Interview (198) Live Commentary (30) Love Matters (166) Maggie's Blog (383) News (50,179) Opinion (1,326) Pidgin (17) Politics (11,318) Religion (1,085) Sports (2,133) Stock Watch (39) AMA & Al Jazeera Global Update

 

 

 

 

 

 

APO Group Partner

 

 

CLASSIFIED ADS

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera