Arabian Business Weekly Update 27th July 2004

The rich can no longer be publicity shy, as their true wealth is about to revealed.

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By  Anil Bhoyrul Published  July 27, 2004

Editorial Leader|~||~||~|

Strike it rich

There is no hiding the public’s fascination with wealth. Let’s face it, we are obsessed with how much money everyone else has got in their pockets, be it our friends, our partners, our bosses or our peers. Unfortunately, finding out just how rich our peers are hasn’t always been easy. Whereas in the Western world rich lists are produced every year, detailing the wealth of hundreds of individuals and families, there has never been one done in the Middle East. We all know many Arabs are rich, but beyond that we know little. We are left to guess and gossip. Not any more. The next issue of Arabian Business has taken the bold decision to publish in detail the wealth of the world’s fifty richest Arabs. It is unlikely they will all be rushing out letters of thanks to us. Unlike most companies elsewhere in the world, the owners of Arab led businesses have generally been more coy about their holdings. Even publicly listed companies don’t give complete breakdowns of shareholdings. Some talk about profits, some about revenue, and some about neither. Private enterprises are run behind a wall of secrecy, where even declaring assets is a rarity. Using a number of methods and sources of information, we have been able to break the mould and publish the world’s first ever Arab rich list. But it has not been done to ruffle feathers. If anything, this list is a celebration of Arab success around the world. And we intend to publish it every year. So if you happen to stumble across your own name somewhere in there, don’t be upset. Be proud.||**||

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