Forbes magazine said on Thursday it was excluding all Saudi Arabian tycoons from its annual list of the world\u2019s richest people after dozens of top businessmen from the oil-rich-kingdom were detained in a crackdown on corruption last year.<\/p>\n
Most detainees were released after reaching settlements with the authorities, who say they arranged to seize more than $100bn in assets through such deals.<\/p>\n
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.<\/p>\n
Forbes said earlier in the week that it was \u201cimpossible to know definitively who gave how much to whom and when.\u201d<\/p>\n
The magazine said it had removed the 10 Saudi billionaires who made the cut last year, including those detained in the crackdown, such as Prince Alwaleed bin Talal.<\/p>\n
Talal is said to be with wealth previously valued at $18.7bn; and Mohammed al-Amoudi, whose treasure stood at $8.1bn.<\/p>\n
\u201cWith greater clarity regarding their wealth, some might eventually return to the ranking,\u201d Forbes said.<\/p>\n
The magazine\u2019s Middle East edition said in a separate statement on Thursday that the wealth of Saudi billionaires was believed to have increased from $42.1bn last year.<\/p>\n
It was so, due to the rise in oil prices and capital markets globally; but would be excluded due to the reported asset seizures.<\/p>\n
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.<\/p>\n
The magazine listed 2,208 billionaires worldwide in 2018, up from 2,043 in 2017.<\/p>\n","protected":false},"excerpt":{"rendered":"
Forbes magazine said on Thursday it was excluding all Saudi Arabian tycoons from its annual list of the world\u2019s 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 […]<\/p>\n","protected":false},"author":95,"featured_media":80264,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3,11,15,2],"tags":[8371,36814,42661],"yoast_head":"\n