Are Elon Musk and Jeff Bezos Richer Than Gulf Billionaires?
Why Are Sheikhs Absent from Global Billionaire Rankings?
There are many business magazine that share details about businesspeople’s wealth and list their names in the top 10 richest people in the World. These lists often include people from many countries, but we rarely see Billionaire People from Gulf countries like Saudi Arabia, Qatar, Kuwait, and Oman. People from these countries are called Sheikhs, and in reality, many of them are twice as rich as those on the lists.
The Key Player Behind The Reason.
Al Waleed bin Talal Al Saud is a billionaire businessman from Saudi Arabia. He was born on March 7, 1955. He is also an investor, a philanthropist, and a member of the royal family, the House of Saud. In 2008, Time magazine named him one of the 100 most influential people in the world. Al Waleed is the grandson of Abdulaziz, who was the first king of Saudi Arabia, and Riad Al Solh, who was the first prime minister of Lebanon.
The Story Behind
In 2017, Forbes listed Alwaleed bin Talal Al Saud as the 48th richest person in the world, with a net worth of $18.7 billion. When the list was published, many people and media outlets congratulated him. However, Alwaleed responded by calling it false information. He claimed he had never disclosed his income to anyone and suggested that his true net worth was actually ten times higher than what Forbes reported. This statement highlighted his belief that his wealth was significantly underestimated.
The Forbes Downfall!
Poor Step by Forbes
Forbes is well-known for providing trustworthy information about business people, and many people used to trust it completely. However, after Alwaleed bin Talal said that his net worth was not reported correctly, Forbes faced a lot of criticism. Because of this, some magazines, including Forbes, decided not to include names from West Asian countries in their lists anymore. Even with this situation, People still admire Forbes business news for it’s work, but it showed that people are concerned about how accurate the information is.
