Dubai: Thirty-four wealthiest Arabs now control $127 billion (Dh466.09 billion), up from $115 billion last year, according to Forbes Middle East magazine.
The list largely keeps out political leaders and most royals, except a few who increased their fortunes through business.
Saudi billionaire Prince Al Waleed Bin Talal tops the list despite his decline in the Forbes worldwide ranking of top billionaires to 26th rank with a fortune amounting to $19.6 billion.
This list is considered the main indicator of wealth throughout the world.
Saudi Arabia, Egypt, Lebanon, UAE and Kuwait had the highest number of billionaires in the Mena region with Saudi Arabia and Egypt leading the way with eight billionaires each.
New entries to the list were Yassin Yousuf and Mohammad Mansour from Egypt with Mansour ranked highest with $2 billion and positioned at 595th worldwide and 17th among the richest Arabs.
Mohammad Al Fayed and his family also entered the list for the first time with a fortune of $1.2 billion and were ranked 32nd among Arabs and 993rd worldwide.
Naseef Sawiris' $5.6-billion fortune puts him atop the Egyptian list of billionaires and seventh in the Arab world and 182nd globally.
Dr Jamal Zarrouk, senior economist at the Arab Monetary Fund (AMF), said: "There are a lot of Arab wealthy personalities who are not on this list as they don't like to be under the spotlight.
"The combined wealth of these people is equivalent to 15 per cent of the total budget of the Arab countries which is $800 billion."
Lebanon with six billionaires is ranked second with the wealth concentrated on two main families — the Al Mikati family and the Al Hariri family.
Prime Minister Najeeb Mikati's net fortune amounted to $2.8 billion, ranking him first on the Lebanese list, 10th among Arabs and 409th globally.
Out of the four brothers of the Al Hariri family, Baha'a Hariri was the wealthiest with $2.5 billion, ranking him 459th worldwide and 13th in the Arab world.
Return to ranks
The UAE was ranked third with four billionaires, led by Abdul Aziz Al Ghurair and his family with a fortune of $2.7 billion, ranking them 420th globally and 12th in the Arab world.
Kuwait with three billionaires was in fourth place, led by Nasser Al Kharafi and family with a fortune of $10.4 billion, making them 77th worldwide and fourth among the Arabs. Kuwait's list has witnessed the return of Qutaybah and Bassam Al Ganem with a fortune of $1.4 billion each, ranked 879th worldwide and 28th Arab.
"There is a big difference between the wealth in the Arab countries and the West. For example the source of Bill Gates' wealth is purely based on creativity and innovation while in the Arab world is almost inherited," Zarrouk said.
The list also includes a number of Arabs bearing non-Arab nationalities, who reside outside their home countries.
They include Lebanese billionaire Joseph Safra, who lives in Brazil, ranked 63rd worldwide and second among the Arabs with a net of $12.3 billion.
Jordanian billionaire Ziad Al Manaseer, who is a newcomer to the list, lives in Russia and was ranked 564th worldwide and 16th among Arabs with a fortune of $2.1 billion.
Iraqi billionaire Nazmi Oge, ranked 692nd worldwide and 19th among Arabs, with a fortune of $1.8 billion lives in the UK. Syrian billionaire Ayman Asfari, who has also entered the list for the first time ranked 736th globally and 22nd in the Arab world, has a net estimated at $1.7 billion.
