Al-Waleed bin Talal

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Prince Al-Waleed bin Talal bin Abdulaziz al Saud (born 7 March 1955) is a Saudi Arabian businessman, investor, and a Saudi royal family descendant.

In 2008, he was ranked on Time magazine's Time 100, an annual list of the world's top 100 individuals.

Al-Waleed is a grandson of Lebanon's first prime minister, and a nephew of all Saudi Arabian kings since. He is the founder, chief executive officer, and 95 percent owner of the Kingdom Holding Company, a Forbes Global 2000 company with investments in companies that include financial services, tourism, and hospitality, mass media, entertainment, retail, manufacturing, automobile, petroleum, research, aviation, technology, and real estate.

The company had a market capitalization of over $18 billion in 2013.

Al-Waleed is Citigroup's largest individual shareholder, the second-largest voting shareholder in the 21st Century Fox, a minority shareholder in Zaveriwala Holdings LLC that owns Four Seasons Hotel George V and a portion of the Plaza Hotel in Paris.

The "Arabian Warren Buffett" has been described by Time as the "Arabian Warren Buffett."

Forbes named Al-Waleed as the country's fifth richest man with a net worth of $18.7 billion in November 2017.

Prince Al-Waleed's allegations include money laundering, bribery, and extorting authorities.

Since being in the Ritz-Carlton, Riyadh, several of the detainees have been detained.

After a lengthy detention period, Al-Waleed was released from detention following a financial settlement of some kind.

Due to a lack of up-to-date details, he was dropped from the World's Billionaires list in March 2018.

Early life and education

Al Waleed bin Talal was born in Jeddah on March 7th, 1955, to Prince Talal bin Abdulaziz and Mona El Solh. His father was Saudi Arabia's finance minister in the early 1960s before he went into exile due to his campaign for political reform. King Abdulaziz and Munaiyir were Al Waleed's paternal grandparents. When his grandmother, an Armenian, was presented by the emir of Unayzah to King Abdulaziz in 1921, she was 12 years old and Abdulaziz 45. Riad Al Solh, Lebanon's first prime minister, and Fayza Al Jabiri, Fayza Al Jabiri's sister, were among his maternal grandparents.

Al Waleed's parents divorced when he was seven years old, and he lived in Lebanon with his mother. He attended Pinewood College in Beirut for the first time. 19-20 Before attending the King Abdulaziz Military Academy in Riyadh, he ran away from home for a day or two at a time, sleeping in unlocked cars. 26 In 1974, he returned to Lebanon, first attending the Choueifat School and later Manor Academy. Al Waleed, 32, earned a bachelor's degree in business administration from Menlo College in California in 1979, graduating in two-and-a-half years,: 43 and a master's degree in social science from Syracuse University's Maxwell School of Citizenship and Public Affairs, 1985, which culminated in eleven months.

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Personal life

Al Waleed has been married four times. According to another survey, he has been married seven times. 34 His first marriage was in 1976 at the age of 19.: 34 They have two children (Prince Khaled, born on April 20, 1978, and Princess Reem, 1982), 37, 57, and later divorced in December 1994.

Al Waleed married Princess Iman Sudairi in 1996, but the marriage lasted just over a year. 174 Al Waleed married Kholood Al Anazi in 1999 after divorcing his second wife. They were divorced in 2004. 174, 177.

Ameera al-Taweel, his fourth wife, divorced in 2014 after six years of marriage; "Yes, I announce it through Okaz—Saudi Gazette for the first time," he said in an interview. I have officially divorced Princess Ameera Al-Taweel, but she is still a person I have utter respect for."

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Business career

After graduating from Menlo College in 1979, Al Waleed began his career in 1980. He returned to Saudi Arabia, which was during the 1975-85 oil boom. Al Waleed founded Kingdom Establishment in 1980 from a tiny, four-room cabin in Riyadh with $30,000 in start-up funds provided by his father. When the money ran out in a few months, he obtained a $300,000 loan from the Saudi American Bank, which is part owned by Citibank. Al Waleed, the legally mandated middleman, argued for a stake in the initiative rather than receiving a commission for facilitating contracts, but the legally bound middleman maintained on a minority interest in the initiative. His first success came in 1982 when he worked with a South Korean building company, and from there, his commissions were used to finance his real estate deals. "All the money I used to get from this construction I'll plough back into real estate and in the stock market, both."

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Al Waleed purchased the underperforming United Saudi Commercial Bank after the Saudi oil boom (USCB). It became a major Middle Eastern bank thanks to mergers with Saudi Cairo Bank (SCB), the United States Bank (USB), and the Saudi American Bank (SAMBA). The hostile takeover of USCB in 1986, the merger with SCB in 1997, and the merger of USB with SAMBA in 1999 were the first of their kind in the United Kingdom. He then secured a majority in Al-Azizia Panda, merging it with the Savola Group, and took over National Industrialization Company.

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By 1989, his net worth was $1.4 billion, which included interests in Canary Wharf, Four Seasons Hotel Group, and News Corporation. As Al Waleed transitioned to the international market, he concentrated on "established brands going through difficult times," according to Riz Khan. Al Waleed will do his homework and then wait for the correct time to enter the country. He invested over $250 million in Chase Manhattan, Citigroup, Manufacturers Hanover, and Chemical Bank. He shrewdered his interest in the other banks and concentrated on investing in Citicorp, acquiring 4.9 percent of the bank. Although Al Waleed's bank was the lowest-performing bank of the four, Al Waleed believed Citicorp had the highest hopes.

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Citibank was undercapitalized in 1990 due to real estate credit losses and exposure to Latin America debt, sparking the need for a capital reserve. By Nov. 1, they were actively looking for investors. Al Waleed, a renowned banker in the United Kingdom, decided in January 1991 to invest $590 million, about half of his accumulated wealth, in a five-year convertible security with 11 percent interest. Citicorp's total investment in the company increased to $797 million, or around 15 percent of the company, by Feb. Despite receiving a Federal Reserve provisional waiver to purchase such a large portion of the business, Al Waleed sold enough shares in 1993 to avoid the 10 percent threshold. Despite this, he was the largest shareholder in the country's largest financial institution at the time. "It is not a relationship, it's an alliance," Alwaleed's words. We're here for life with them." "I think he saved the bank," Sandy Weill says of Al Waleed.

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Al Waleed bought a ten percent interest in Saks Fifth Avenue in 1993. In Riyadh, a flagship store was then opened.

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Al Waleed bought a 5 percent majority interest in Fairmont and a 21% interest in the Four Seasons in 1994. He purchased a 42% interest in the Plaza Hotel in 1995. In 1996, then bought the George V for $185 million and spent $120 million renovating it for a reopening in Dec 1999. "He created value where no one else could" in response to Al Waleed's investment in the George V, Issy Sharp says.

Al Waleed bought a 4 percent stake in Euro Disney in 1994.

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The Kingdom Establishment for Trading and Contracting was reorganized in 1995 as the Kingdom Holding Company and Al Waleed announced the construction of the Kingdom Center, Kingdom Hospital, Kingdom School, and Kingdom City. He bought a 2.3 percent stake in Mediaset in 1995, the first time he had invested in the Arab Radio and Television Network, worth 30%. Al Waleed founded Al Waleed in 1995, with his share of the company equaling to 6 percent.

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Al Waleed bought a 5 percent stake in Apple Inc. in March 1997, making him the country's largest shareholder. In Nov. 1997, he bought a 1 percent interest in Motorola for $287 million and a five percent stake in Netscape for $146 million, well before AOL and Merger with Time Warner. Al Waleed's ownership in AOL Time Warner grew by another $540 million between 2001 and 2002. MCI, Fox Broadcasting, and other media and media firms all invested in 122–125.

Time said in 1997 that Al Waleed owned about five percent of News Corporation, which he bought for $400 million, making him the third largest shareholder. Al Waleed bought an additional $200 million in preferred shares in April 1999. 123–124 In 2010, his News Corporation stake was around seven percent ($3 billion). News Corporation had a $175 million (19-percent) investment in Al Waleed's Rotana Group, the Arab world's largest entertainment company, three years ago. Al Waleed's ownership was shown to have sold his interest in AOL, according to a study of his holdings.

Al Waleed bought a 4 percent interest in Planet Hollywood in April 1997 for $57 million, and a 16 percent in Nov 1998 for $45 million.

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Al Waleed bought 27 percent of Mövenpick Hotels & Resorts in October 1997, which he increased to 33 percent in 2003.

The Economist in 1999 expressed doubts about his income, asking if he was a front man for other Saudi investors.

Al Waleed invested almost $2 billion in WorldCom, Priceline.com, Coca-Cola, and Ford Motor Company. He bought 5.9 percent of Daewoo for $50 million, 33% of Ong Beng Seng's Hotel Properties Ltd., and $50 million worth of Hyundai Motor Company bonds in Asia. He invested $50 million in Africa, purchasing 10 percent of Sonatel, ten percent of the Ecobank, 13.7 percent of United Bank for Africa, and 14 percent of CAL Bank. WorldCom, Priceline, Teledesic, and KirchMedia were among the investment decisions that went wrong, apart from Planet Hollywood and Euro Disney.

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In 2005, Apple's majority was sold. Al Waleed also invested in Eastman Kodak and TWA, both of which did moderately well.

Al Waleed founded Kingdom Hotel Investments in 2002 to manage his hotel finances.

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Al Waleed controlled 100% of Rotana by 2003 and 49% of LBC Sat.

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Al Waleed sold half his Plaza Hotel stakes in August 2004; his real-estate interests included substantial stakes in the Four Seasons Hotels and Resorts and New York's Plaza Hotel. He has invested in the Savoy Hotel in London and Monaco's Monte Carlo Grand Hotel. Al Waleed owns a ten-percent interest in Euro Disney S.C.A., the corporation that owns, operates, and maintains Disneyland Paris in Marne-la-Vallée.

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Al Waleed ranked fourth on Forbes' list of the richest people in 2004, with a net worth of $21.5 billion. More than $1.3 billion was invested in hotel assets.

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Al Waleed bought the Savoy Hotel in London for £250 million to be managed by Fairmont Hotels and Resorts in January 2005; his sister, Sultana Nurul, holds a 16 percent interest. Kingdom Holding, a real estate company in the United States, purchased Fairmont Hotels and Resorts in January 2006 for $3.9 billion. Al Waleed owned 35% of Research and Marketing Group (SRMG), a major mid-east media firm, as it was revealed in 2009.

Al Waleed revealed in August 2011 that his company had contracted with the Saudi Binladin Group to produce the Kingdom Tower (at a height of at least 1,000 meters (3,300 ft) for SR 4.6 billion. The original scheme, which was announced in 2008, was branded as "One-Mile Tower" in Arabic, and has a height of 1,609 meters (5,279 ft) and an estimated cost of $20 billion.

Al Waleed invested $300 million in Twitter in December 2011, buying secondary shares from insiders. Kingdom Holding received a "more than 3% stake" in the firm, which was originally valued at $8 billion in late summer 2011.

He revealed in 2015 that he would donate his fortune to charity at an unspecified date. He had previously raised $3.5 billion over the course of 35 years through his charitable group Alwaleed Philanthropies.

He suffered numerous lawsuits against Pierre El Daher, CEO of LBCI, from 2015 to 2021, and will be required to pay $22 million due to breaches in contract terms with the Lebanese broadcaster.

In May 2022, Musk pledged to buy approximately 35 million shares of Twitter Inc. either immediately or immediately prior to the acquisition of Twitter by Elon Musk and other private-equity investors behind Musk's bid.

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