NewsExpress advert FCMB 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: 423

•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+



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


You may also like...
IPOB members stop soldiers from arresting Kanu •We...

Robbers take over Ibadan communities, others

Anambra PPA Leader commends FG’s response to Ebola...

Jonathan must appear ib court, says Justice Abang...

Weah sworn in as Liberia president, vows to...

Stowaway dies on Arik flight in Lagos

Arase orders trial of suspected cult leaders and...

Obiano charges new commissioners, advisers, demands 100% loyalty...

Abia Governorship Tussle: Appeal Court dismisses Otti and...

Messi faces six years in jail for tax...

PDP suspends 6 chieftains

Government forces kill more than 400 civilians in...


Latest News States share N2.67 trillion APC Campaign DG, 20,000 others surrender to PDP Flight stopped after airport worker discovers drunk co-pilot Oba’s Curse: Come and take your pubic hairs, pants in our shrines, Native doctors beg sex slaves Ogun police aiding and abetting criminality — Rights group •Names indicted divisional stations Ghana throws doors open to U.S. troops Human trafficker bags 10 years imprisonment, N2m fine Why I want to govern Imo again — Ohakim 2019: APC reconciliation hits the rocks as party leadership sidelines Tinubu’s committee Dapchi girls contracted skin diseases in Boko Haram custody — DSS •How govt. officials nearly truncated rescue efforts Committee on underage voting submits report Communications Minister appoints new Media Aide


Most Read Nigerian female sex addict opens up, says ‘I like it with both men and women’ (333,080 views) NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (326,024 views) Shameless Genevieve Nnaji exposes breasts in public (261,501 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (214,964 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (198,429 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (192,983 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (168,207 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (150,869 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (143,538 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (133,800 views) Lagos plane crash: Journalist releases victims’ names (133,043 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (126,260 views)


Categories Advertorials (3) African Press Organisation (81) Art & Literature (35) Business & Economy (2,984) Business Verdict (36) Columnists (817) Complaints & Requests (94) Enterprise & Opportunities (207) Entertainment (456) Features (554) Global Business Monitor (241) International (1,864) Interview (147) Live Commentary (28) Love Matters (114) News (33,873) Opinion (898) Pidgin (10) Politics (4,638) Religion (703) Sports (1,458) Stock Watch (28) AMA & Al Jazeera Global Update



NLNG Science and Literature Prize Awards




Football Highlight -- BARCELONA - CHELSEA 3:0


APO Group Partner




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

GOCOP Accredited Member

GOCOP Accredited member



Africa Media Agency and Al Jazeera