Al-Waleed bin Talal

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Al-Walid was born to Prince Talal, son of the founding King of Saudi Arabia, Abdul Aziz Al Saud, and Princess Mona El-Solh, daughter of Riad El-Solh, the first Prime Minister of modern day Lebanon and a leader of Lebanese independence. He is also a cousin of Prince Moulay Hicham of Morocco, whose mother is Mona's sister. He is also a good friend of the Egyptian millionaire Mohamed Yehia Fadli

Al-Walid completed a Bachelor of Science degree in Business Administration at Menlo College in 1979 and a Masters in Social Science at the Maxwell School of Citizenship and Public Affairs of Syracuse University, in 1985. He was also awarded an honorary PhD from the University of Exeter. He has been divorced three times. As of 2006, he is married to Princess Ameera and has two children: Prince Khaled and Princess Reem from his first wife, his cousin Princess Dalal bint Saud bin Abdul Aziz. Despite being the nephew of King Abdullah of Saudi Arabia, he has stayed outside of the core of political power in Saudi Arabia, instead building a large international corporation called the Kingdom Holding Company, through which he makes his investments

Al-Walid began his business career in 1979 upon graduation from Menlo College. Funded by a $30,000 loan from his father and a $300,000 mortgage on his house, he initially brokered deals with foreign firms wishing to do business in Saudi Arabia.This was followed by land deals in the 1980s, along with major investments in the Saudi banking industry, which proved to be undervalued at the time.

The Prince's activities as an investor came to prominence when he bought a substantial tranche of shares in Citicorp in the 1990s when that firm was in difficulties. With an initial investment of $550 million to bail out Citibank caused by underperforming American real estate loans and Latin American businesses, his holdings in Citigroup now comprise half of his wealth worth US$10 billion. He has also made large investments in AOL, Apple Inc., Worldcom, Motorola, News Corporation Ltd and other technology and media companies.

His real estate holdings have included large stakes in the Four Seasons hotel chain and the Plaza Hotel in New York. He sold half of his shares in the latter in August 2004. He has made investments in London's Savoy Hotel and Monaco's Monte Carlo Grand Hotel. He currently holds a 10% stake in Euro Disney SCA, the organization which manages and maintains the Disneyland Resort Paris in Marne-la-Vallee, France.
In January 2005 Al-Walid purchased the Savoy Hotel in London for an estimated GBP £250 million, to be managed by Fairmont Hotels, in which Al-Walid owns an estimated 16% stake. In January 2006, in partnership with the U.S. real estate firm Colony Capital, Kingdom Holdings acquired Toronto, CA-based Four Seasons for an estimated $3.9 billion.

As of 2007, he was believed to be in talks with Robert Earl, founder of Planet Hollywood, about taking a controlling stake in the English Premier League's Everton F.C.
As of 2008, there are plans for the $10 billion construction of the Burj Al-Meel (Arabic for "the Tower of One Mile"), a supertall skyscraper to be the tallest in the world, at one mile (1600m) in height.

Al-Walid is heavily involved in charitable activities across the Middle East, Asia and Africa, and is estimated to donate more than $100 million annually to charity. Much of this expenditure is in the field of educational initiatives to bridge gaps between Western and Islamic communities by funding centers of American studies and research in universities in the Middle East and centers of Islamic studies in American universities.

Al-Waleed bin Talal

1 Comment:

  1. Jobs Career said...
    so Al-Waleed bin Talal is really brave for gambling such amount money for his success but hey it's all worth it isn't it?

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