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Saudi Prince Alwaleed Bin Talal Kicks Up Fuss Over Forbes Rich List

05/03/2013 13:18 GMT

A billionaire Prince from Saudi Arabia has kicked up a fuss after Forbes published a list of the world's richest people, putting him only 26th on the list.

Prince Alwaleed Bin Talal claimed the magazine has used flawed methodology to calculate his wealth and has accused Forbes of purposefully leaving him out of the top 10.

prince alwaleed bin talal

Prince Alwaleed Bin Talal of Saudi Arabia

His office is so angry at what they insist is "differing standards of proof for different people", they have issued a statement saying they will cut all ties with Forbes. They have asked for Alwaeed to be completely removed from the list altogether.

Prince Alwaeed is listed as having a fortune of $20bn (of £13bn) but the Saudi investor claims he actually has more like $29.6bn, beating number ten on the list, French business magnate Bernard Arnault of LVMH with only $29bn. He's let himself go a bit too, slipping six places from the 4th place he was awarded in 2012.

Mexico's Carlos Slim has remained on top, boasting a net worth of $73bn, or £48bn.