Saudi Arabia's economy has seen big shifts lately. Forbes just brought back the kingdom's billionaires to its annual list after a long break. This marks the first time in eight years that these names appear on the World's Billionaires ranking. The change comes after years of uncertainty that kept them off the list. Now, 15 Saudi men join the 2025 edition, with a combined worth of $55.8 billion. Their stories show a mix of new stock market booms and family legacies. You'll learn about the key event that paused their inclusion, the top returnee, and fresh faces driving this comeback. This post breaks down what happened and why it matters for global wealth tracking.
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The Big Comeback: Saudi Billionaires Return After Years Away
Forbes made a tough call seven years ago. The publication dropped Saudi billionaires from its list due to major unrest in the country. That unrest stemmed from the house arrest and reported shakedown of hundreds of wealthy Saudis, including a key royal family member. The move created too much doubt about their fortunes. Fast forward to now, and things look different. A wave of new companies listed on the Saudi stock exchange has brought stability and fresh data.
This week, on Tuesday, Forbes released its 2025 World's Billionaires list. Fifteen Saudi Arabians now rank on it, a jump from the 10 who made it in 2017. These billionaires span a wide range of ages, from 49 to 95, and all are men. Their total estimated wealth hits $55.8 billion. They come from diverse fields, like founding hospital chains, running grocery stores and malls, or inheriting banking family empires. This return signals growing confidence in Saudi Arabia's business scene. It also highlights how stock market activity can reshape billionaire rankings overnight.
What stands out is the variety in their paths to wealth. Some built empires from scratch and went public recently. Others grew family businesses into giants across sectors. This mix shows Saudi Arabia's push toward a more open economy. Readers interested in global finance will find these stories eye-opening. They reveal how political events can pause wealth visibility, but market growth can restart it.
What Changed This Year?
The trigger for this return? A burst of new listings on the Saudi stock exchange, or Tadawul. Companies that stayed private for years now trade shares publicly. This openness gives Forbes clearer views into ownership and values. Before, hidden stakes made estimates unreliable. Now, with shares out in the open, valuations feel solid.
The list dropped on Tuesday, making the news feel fresh and urgent. Saudi Arabia's economy benefits from oil, but these billionaires point to diversification. Hospitals, retail, and power plants show bets on everyday needs and infrastructure. This shift excites investors watching the Middle East. It proves that economic reforms can draw global attention back quickly.
Why Forbes Dropped Saudi Billionaires in the First Place
Back in 2017, Forbes faced a dilemma. The kingdom saw a dramatic event that shook its elite. Saudi Crown Prince Mohammed bin Salman, often called MBS, led a major anti-corruption drive. He rounded up some of the country's richest people. They ended up under house arrest at Riyadh's Ritz-Carlton Hotel for months. Officials called it a push against graft, with a goal to collect $100 billion for the national budget.
At least four Saudis from Forbes's 2017 billionaires list got detained. None of them spoke publicly about any payments to the government. This silence raised red flags. Forbes worried about the true state of their wealth. Were fortunes intact, or had they been seized? Without clear answers, the publication pulled all Saudi names starting in 2018. The decision protected the list's credibility. It showed how one political move can cloud financial transparency.
Experts Forbes consulted agreed on the challenges. Getting solid info on ownership proved tough. Saudis often avoid open talks about money and power. The 2017 roundup left a mark. It deterred frank discussions even years later. This backdrop explains why the break lasted so long.
Lasting Impacts from 2017
The old list had its own twists. Two billionaires from 2017 have passed away: Sulaiman Al-Rajhi and Abdullah Al-Rajhi. Others struggled to stay on. Brothers Abdul Majid Al-Hokair and Fawaz Al-Hokair saw their companies' shares drop sharply. Those falls knocked them out this year. Only one from that era returned.
Uncertainty lingers. Saudi watchers told Forbes it's still hard to pin down who owns what. People hesitate to challenge official views. One expert, speaking without a name, put it simply: "In the kingdom, one cannot counter the views of the crown prince." This quote captures the caution. It reminds us that wealth lists rely on trust. When that's shaky, exclusions happen.
These changes paint a picture of resilience mixed with risk. The 2017 group faced real hurdles. Yet the market's recent activity suggests a turnaround. For those tracking billionaire shifts, this serves as a lesson in how events shape lists.
Spotlight on the Richest Returnee: Prince Alwaleed bin Talal
Prince Alwaleed bin Talal tops the Saudi pack this year. His fortune sits at an estimated $16.5 billion, making him the only one back from 2017. Back then, Forbes valued him at $18.7 billion. A dip in assets explains the slight decline, but he remains a powerhouse.
About 40% of his wealth ties to his stake in Kingdom Holding Company. The firm trades on the Saudi exchange and holds global investments. Key ones include the Four Seasons hotel chain and the George V hotel in Paris. He also owns a small, single-digit share in X, the platform once known as Twitter. That stake came alongside Elon Musk.
- Kingdom Holding stake: Core of his portfolio, with diverse holdings.
- Hotel investments: Luxury brands like Four Seasons boost his profile.
- X involvement: A tech play that adds modern flair to his empire.
Alwaleed's return feels symbolic. As a prominent royal investor, he bridges old money and new ventures. His story shows how global ties keep fortunes steady. Fans of international business will appreciate his reach. From Riyadh to Silicon Valley, he embodies cross-border wealth.
Meet the New Faces: Founders and Family Heirs
The 2025 list brings 14 fresh Saudi billionaires. All are newcomers, except for the prince. Six of them founded or co-founded companies that hit the stock exchange in recent years. This group highlights Saudi Arabia's entrepreneurial push. Public listings let them unlock value and gain visibility.
Take Sulaiman Al-Habib, the second-richest Saudi. A trained pediatrician, he started Dr. Sulaiman Al-Habib Medical Services Group, or HMG, in 1995. Based in Riyadh, it runs hospitals and clinics. He took the company public in 2020 and holds a 40% stake. His path from doctor to billionaire shows healthcare's growth potential in the kingdom. With an aging population and more focus on private care, HMG thrives.
Others built on family roots. Brothers Imad, Isam, and Sulaiman Al-Muhadib stepped up after their father, Abdul Qadir, died in 1996. He founded the Dammam-based Al-Muhadib Group. They expanded it into key areas:
- Consumer products
- Infrastructure
- Construction
- Real estate
- Finance
Each brother owns 28% of the private firm. Four other relatives hold smaller shares. The family links to at least 16 public companies in Saudi Arabia and Egypt. Their biggest asset? ACWA Power. This firm, which went public in 2021, focuses on power generation and desalinated water. It fits Saudi Arabia's needs for energy and fresh water. The brothers' work turned a local conglomerate into a regional player.
These profiles reveal patterns. Founders like Al-Habib seize opportunities in services. Heirs like the Al-Muhadibs blend tradition with expansion. Together, they add depth to the list. Their success ties to the kingdom's reforms, like easing foreign investment and boosting listings.
Other Newcomers at a Glance
Beyond founders and families, the list includes varied players. One runs grocery stores and malls, tapping into daily retail needs. Another inherits from a top banking family, carrying forward financial legacy. These roles show wealth's spread across essentials and services.
All 14 are first-timers, fueled by the stock boom. Grocery operations handle everyday shopping in a growing population. Malls cater to urban lifestyles. Banking heirs manage assets in a key economic pillar. This diversity strengthens Saudi Arabia's billionaire scene. It proves the exchange listings open doors for many types.
What's Next? Ongoing Uncertainties and Full Story
Saudi billionaires' return brings excitement, but questions remain. Verifying ownership stays tricky. Experts note the info gaps persist. Saudis' quiet approach to such topics adds caution. Still, the stock market's transparency helps. It offers a path forward for clearer rankings.
For deeper details, check out the full article by Kerry A. Dolan and Giacomo Tognini on why Saudi Arabians are back. It covers more on the individuals and context.
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Wrapping Up the Saudi Billionaire Revival
Saudi Arabia's 15 billionaires mark a strong return after eight years away. From Prince Alwaleed's global stakes to new founders like Sulaiman Al-Habib, they reflect economic momentum. The 2017 events paused their spot, but stock listings revived it. Total wealth at $55.8 billion underscores the scale.
This story highlights how politics and markets intersect. It shows Forbes's commitment to reliable data. What do you think drives these comebacks? Share your views in the comments. For more on wealth trends, stay tuned to Forbes coverage. Thanks for reading.