“By me princes rule”: This line repeats the first line of verse 15. “Princes” does not refer to the hereditary sons of kings but more generally to rulers, leaders, officials, or authorities.
“Nobles govern the earth”: “Nobles”, which is also used in Job 12.21 and is translated by Revised Standard Version there as “princes,” refers to a class of persons in authority. The Hebrew of this line is literally “nobles, all judges of righteousness.” Hebrew Old Testament Text Project has made two recommendations regarding the Hebrew text: it gives a “C” rating to “righteousness” and a “B” rating to “all judges.” That committee suggests verse 16 be translated “by me princes govern, and the nobles, all those who govern righteously.” This is followed by New Revised Standard Version: “by me rulers rule, and nobles, all who govern rightly.” Revised Standard Version follows the Septuagint. New English Bible follows another Hebrew text and says for this whole line “from me all rulers on earth derive their nobility” (Revised English Bible similar).
Since both Hebrew Old Testament Text Project and New Revised Standard Version are ambiguously worded, we may follow Good News Translation or Contemporary English Version, which says “Every honest leader rules with help from me.”
Because of the repetition between verses 15 and 16, and because of the difficulty in some languages of finding a number of different terms for various types of rulers, some translations combine the two verses; for example, “I help kings and leaders to rule their countries well, and to make good laws so that their countries follow right behavior.”
Quoted with permission from Reyburn, William D. and Fry, Euan McG. A Handbook on Proverbs. (UBS Helps for Translators). New York: UBS, 2000. For this and other handbooks for translators see here .

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