Fidelity bank banner Bayelsa State banner
Forbes removes Saudi moneybags from billionaires list after corruption purge

By News Express on 08/03/2018

Share on facebook Yahoo mail icon Gmail icon Share on Google+

Views: 548

•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

 

Share on facebook Yahoo mail icon Gmail icon Share on Google+


 

CLASSIFIED ADS

REVEALED: 3 natural ways to get stronger erections, last 25 minutes on bed, and increase manhood size without using drugs. Also, Natural Prostrate Enlargement Remedy.. Get In HERE...

 

You may also like...
Dangote Foundation spends N200m to rehabilitate Kano Specialist...

Dangote bags Doctorate degree from UK varsity

Osinbajo backs calls for restructuring of Nigeria

U.S. tasks FG to improve living conditions of...

Medical student emerges winner of NIMASA Maritime Essay...

Yuletide: Traffic offenders to forfeit vehicles till 2018,...

US slaps widespread sanctions on Russia over hacking...

NEMA, aid agencies condole victims of Air Force...

Premiership: How Man City stunned Man Utd at...

Delta guber: Ogboru’s fate depends on outcome of...

Government to launch new immigration regulation

Expect moderate visibility today —NiMET

 

Latest News Bomb scare in Ebonyi •Umahi summons emergency security meeting World Cup: Nigerian, other Asylum seekers enter Finland illegally from Russia Pastor pleads guilty to criminal breach of trust, cheating, remanded in prison NERC suspends IBEDC board of directors over 6bn loan 192 drown as tourist ferry sinks Saraki addresses Russian Parliament; Seeks stronger security, economic cooperation Probe your 2015 campaign fund, PDP tells Buhari 75 per cent of sickle cell births in Nigeria don’t see their 5th birthday – Group PDP Campaign Fund: Absence of defendants stalls arraignment of Ex-Kebbi Governor APC National Convention: Muiz Banire’s camp loses out again in battle for Lagos delegates Kwara tertiary institutions begin indefinite strike Traders lose property worth N150 million to fire in Ekiti

 

Most Read Nigerian female sex addict opens up, says ‘I like it with both men and women’ (352,186 views) NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (351,480 views) Shameless Genevieve Nnaji exposes breasts in public (280,110 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (229,996 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (209,013 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (208,654 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (181,740 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (163,824 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (153,876 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (148,546 views) Lagos plane crash: Journalist releases victims’ names (143,781 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (135,625 views)

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (50) Business & Economy (3,256) Business Verdict (44) Columnists (868) Complaints & Requests (94) Enterprise & Opportunities (207) Entertainment (505) Features (607) Global Business Monitor (283) International (2,040) Interview (154) Live Commentary (28) Love Matters (123) News (36,345) Opinion (1,003) Pidgin (10) Politics (5,289) Religion (770) Sports (1,552) Stock Watch (30) AMA & Al Jazeera Global Update

 

CBN banner

Firstmobile banner

 

 

NEWS EXPRESS TV

Portugal v Spain 2018

 

APO Group Partner

 

 

CLASSIFIED ADS

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera

Advertisement