King Abdullah's nephew on Forbes rich list

Prince Alwaleed bin Talal

Prince Alwaleed bin Talal's uncle King Abdullah

The nephew of Saudi Arabia's King Abdullah - Prince Alwaleed bin Talal - has once again made it onto the 2011 Forbes rich list.

The royal - who is the chairman of the Kingdom Holding Company (KHC) - was revealed to be the richest person in the Middle East when he was ranked 26th on Forbes magazine's annual global ranking of billionaires, with a fortune estimated at $19.6bn.

Along with KHC, the prince's wealth is also made up of his lavish jewellery collection, his stakes in Citigroup and a French port and his investments in companies in both Lebanon and Palestine.

His fortune also comes from his investment in an engineering consultancy business, worth almost $12 million, other business stakes worth $560 million, and property with a value of $3.18 billion.

 

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