Al-Waleed bin Talal

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Person.png Al-Waleed bin Talal  Rdf-entity.pngRdf-icon.png
(billionaire, businessman)
Al Waleed bin Talal.jpg
Born1957-03-07
Jeddah, Saudi Arabia
NationalitySaudi
Alma materMenlo College
SpouseDalal bint Saud bin Abdulaziz
Member ofHouse of Saud, The Giving Pledge
Billionaire member of the Saudi royal family.

Employment.png Chairman & CEO

In office
1980 - Present
EmployerKingdom Holding Company

Prince Al-Waleed bin Talal (born 7 March 1957)[1] is a Saudi businessman, investor, philanthropist, and a member of the Saudi royal family. He was listed on Time magazine's Time 100, an annual list of the hundred most influential people in the world, in 2008.[2]

Background

Al-Waleed is a grandson of Ibn Saud, the first Saudi king, a half-nephew of all Saudi kings since, and a grandson of Riad Al Solh (Lebanon's first prime minister).

Khalid al-Mansour‎ "met and befriended Saudi Prince Alwaleed bin Talal, the world’s 19-wealthiest person, when the prince was studying at Menlo College in California in the late 1970s. Al-Mansour’s law partner was representing the prince in a court case in California."[3]


Arabian Warren Buffett

Al-Waleed bin Talal is the founder, chief executive officer and 95-percent owner of the Kingdom Holding Company, a Forbes Global 2000 company with investments in companies in the financial services, tourism and hospitality, mass media, entertainment, retail, agriculture, petrochemicals, aviation, technology and real-estate sectors.[4] In 2013, the company had a market capitalisation of over $18 billion.[5] Al-Waleed is Citigroup's largest individual shareholder, the second-largest voting shareholder in 21st Century Fox, a minor shareholder in Zaveriwala Holdings LLC and owns Paris' Four Seasons Hotel George V and part of the Plaza Hotel.[6][7] Time has called him the "Arabian Warren Buffett".[8][9][10] In November 2017 Forbes listed Al-Waleed as the 45th richest man in the world, with an estimated net worth of $18.7 billion.[11][12]

The previous year, he announced that he would donate his fortune to charity at an unspecified date. Some of the reasons he cited were to foster cultural understanding and empower women.[13]

Purged by MBS

On 4 November 2017 he and other prominent Saudis (including fellow billionaires Waleed bin Ibrahim and Saleh Abdullah Kamel) were arrested in Saudi Arabia, in a purge that the Saudi government characterised as an anti-corruption drive.[14][15] The allegations against Prince Al-Waleed include money laundering, bribery, and extorting officials.[16] His arrest is being seen as a test of the Crown Prince Mohammed bin Salman's objectives, specifically whether the anti-corruption drive is a cover for an attempt to stabilise state assets before selling them off.[17] Some of the detainees have been in the Ritz Carlton Riad since then.[18]

Released from detention

Having reportedly been tortured and hung upside down, Mussolini-style, Al-Waleed was released from detention on 27 January 2018, after agreeing to a financial settlement of some kind and spending nearly three months in detention.[19][20]

In March 2018 he dropped out from the World's Billionaires's list.[21]

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References

  1. ↑ https://web.archive.org/web/20151222111327/http://www.arabianbusiness.com/saudi-arabia-s-prince-alwaleed-s-timeline--495138.html
  2. ↑ https://web.archive.org/web/20140420075256/http://content.time.com/time/specials/2007/article/0,28804,1733748_1733758_1735846,00.html
  3. ↑ http://web.archive.org/web/20080907011513/https://www.newsmax.com/newsfront/khalid_al_mansour/2008/09/04/127844.html/
  4. ↑ https://web.archive.org/web/20140503200652/http://www.alwaleed.com.sa/about/
  5. ↑ https://web.archive.org/web/20160524152105/http://www.forbes.com/companies/kingdom-holding/
  6. ↑ https://web.archive.org/web/20161011074935/http://content.time.com/time/specials/packages/article/0,28804,1883644_1883653_1884601,00.html
  7. ↑ https://web.archive.org/web/20160712133148/http://www.vanityfair.com/news/2013/03/myth-prince-alwaleed-bin-talal-saudi
  8. ↑ https://web.archive.org/web/20140506232216/http://www.alwaleed.com.sa/
  9. ↑ https://web.archive.org/web/20170519074502/http://www.economist.com/node/187913
  10. ↑ https://web.archive.org/web/20170307090721/http://www.nytimes.com/1999/03/28/business/buffett-of-arabia-well-maybe.html
  11. ↑ https://www.forbes.com/profile/prince-alwaleed-bin-talal-alsaud/list=billionaires/
  12. ↑ https://web.archive.org/web/20171107000507/https://www.forbes.com/sites/igorbosilkovski/2017/11/06/saudi-prince-alwaleed-bin-talals-net-worth-takes-a-hit-after-news-of-his-arrest/#b392adb25ff4
  13. ↑ https://web.archive.org/web/20150704233233/http://gulfnews.com/business/sectors/investment/why-saudi-billionaire-pledges-entire-wealth-to-charity-1.1544254
  14. ↑ https://web.archive.org/web/20171108003504/https://www.nytimes.com/2017/11/04/world/middleeast/saudi-arabia-waleed-bin-talal.html
  15. ↑ https://web.archive.org/web/20171105032442/https://www.dailysabah.com/mideast/2017/11/05/alwaleed-bin-talal-two-other-billionaires-tycoons-among-saudi-arrests%7Carchive-date=5 November 2017
  16. ↑ https://web.archive.org/web/20171106184101/https://www.reuters.com/article/us-saudi-arrests/saudi-billionaire-prince-alwaleed-former-ministers-detained-in-corruption-probe-idUSKBN1D506P
  17. ↑ https://www.bloomberg.com/news/articles/2017-12-29/saudi-squeeze-on-alwaleed-has-more-at-stake-than-money
  18. ↑ https://web.archive.org/web/20180127150226/https://www.washingtonpost.com/world/prince-alwaleed-bin-talal-billionaire-investor-is-released-from-custody-in-saudi-arabia-relative-says/2018/01/27/8083a212-035a-11e8-93f5-53a3a47824e8_story.html
  19. ↑ https://web.archive.org/web/20180128074627/https://www.afp.com/en/news/205/saudi-billionaire-prince-al-waleed-freed-after-settlement-doc-y10ws2
  20. ↑ https://web.archive.org/web/20180127200707/https://www.nytimes.com/2018/01/27/world/middleeast/saudi-arabia-alwaleed-bin-talal.html
  21. ↑ https://web.archive.org/web/20180306150806/https://www.forbes.com/sites/kerryadolan/2018/03/06/no-saudi-arabian-billionaires-forbes-list-2018-alwaleed-alamoudi/
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