Mubasher: Unveiling its list of richest Arabs for 2017, Forbes Middle East reported that Saudi Arabia topped the list with an overall wealth of $42.1 billion, owned by 10 billionaires.

Published in the magazine’s April issue, the list indicated that the UAE came in second with an aggregate net worth of $27.3 billion and 5 billionaires, followed by Egypt and Lebanon with 7 billionaires each.

Net wealth for figures in the list rose 29.2% in 2016 to reach $123.4 billion, according to the magazine.

Prince Al-Waleed Bin Talal remained no. 1 on the list after adding $1.4 billion to his $18.7 billion wealth, while the UAE's Majid Al Futtaim came in second place after doubling his wealth to $10.6 billion, followed by Saudi-Ethiopian businessman Mohammed Al Amoudi with $8.1 billion, according to Forbes.

The magazine also published the annual rankings of the Arab world’s richest families that affect the Arab economies.

Al Olyan family headed the list with $8 billion, followed by Alshaya family with $5 billion and Abu Daoud with $4 billion, at second and third places, respectively, according to the report.