Call him the world’s 13th richest man, call him a father of two, call him an investor or simply call him a prince, but he knows his game
He belongs to the Saudi Royal Family, but building huge royal desert castles was not his dream. His desires shot beyond just leading a ‘royal’ rich life & moved beyond international boundaries – towards US & Europe as an enterpreneur & investor. Today, he has amassed a $10 billion stake in Citigroup alone (apart from other investments) and has demonstrated clear interests in American politics over the years too and his rendezvous with former US Presidents Jimmy Carter and Bill Clinton standing alibi to the same. Call him Prince Al-Walid bin Talal bin Abdul Aziz Al Saud, or just Prince Al-Walid – an investor worth $20.3 billion (the 13th richest person for 2007, as per Forbes).
He’s known across continents for reasons bigger than being
the only private buyer of the super-jumbo Airbus A380 or for the $20 million gifts he made to Harvard and Georgetown to expand their Islamic studies departments. He’s a man whose passion for capitalism moves far beyond just his $3.9 billion deal to buy Fairmont Hotel & Resorts, far beyond plain luxury! Want a proof? Well, he demonstrated his knowledge of what the stock markets are capable of when in February 2007, he listed his hotel holdings on the Dubai stock exchange. He further aims to get his primary investment group, Kingdom Holdings, listed on the Saudi exchange by end-2007. And what about his investments of $7.5 bn on December 4, 2007 which further increased his control in Citigroup to a commanding 4.9%, making him the largest controller of the $170.1 billion entity? A capitalst indeed!
Born on March 7, 1955, Prince Al-Walid has been divorced twice and is currently married to Princess Ameera and blessed with two children – Prince Khaled and Princess Reem. He completed his Bachelor’s degree in Business Administration from Menlo College in 1979 and further completed a Masters in Social Science from Maxwell School of Syracuse University in 1985. The year 1979 saw the birth of his business career, a man who chose not to become a part of the Saudi political scene. His investment career wasn’t all that rosy to begin with though. His professional career didn’t take a kickstart initially, as real estate deals signed by him during the 1980s remained undervalued for some time. In the 1990s, when Citicorp was facing complexities his investor activities gained momentum. And there was born the real businessman .
Today, this man is no less a media tycoon too – what with huge investments in AOL, Apple, Motorola, News Corp et al. He also produced the first Saudi Arabian movie ever, titled Keif al-Hal, provoking questions about Saudi life. Talking about his venture, the Prince says, “I am correcting a big mistake, that is all. I want to tell the Arab youth that you too deserve to be entertained, you have the right to watch movies, you have the right to listen to music.” Hotels, we would say, is his other area of interest, with his real estate holdings comprising huge stakes in the Four Seasons hotel chain and the Plaza Hotel in New York, Monte Carlo Grand & many more...
Like every successful business man, he has his own way of unwinding at the end of the day. “Sometimes, I stay alone, sit alone there for one or two or three hours. I really feel serenity, at home, alone, in the middle of the desert, no lights, only the light of the fire. I feel very much comfortable in the desert.” says Al-Walid. Unlike any blue-blooded prince, he accepts modestly his passion for not so expensive things and still holds dear his second hand Jet bought from the Sultan of Brunei. This Prince might not possess the same technological expertise as the Gates or the Dells or a shrewd investment sense (his poor decisions wiped out his entire stake in internet giants many years back), but his proficiency for striking good investment deals just shields them all.
With his incredible wealth and royalty, guess its time to believe, ‘In the world of business, everyone’s the same, a king or a common man if he knows the game!
For Complete IIPM Article, Click on IIPM Article
Source : IIPM Editorial, 2008
He belongs to the Saudi Royal Family, but building huge royal desert castles was not his dream. His desires shot beyond just leading a ‘royal’ rich life & moved beyond international boundaries – towards US & Europe as an enterpreneur & investor. Today, he has amassed a $10 billion stake in Citigroup alone (apart from other investments) and has demonstrated clear interests in American politics over the years too and his rendezvous with former US Presidents Jimmy Carter and Bill Clinton standing alibi to the same. Call him Prince Al-Walid bin Talal bin Abdul Aziz Al Saud, or just Prince Al-Walid – an investor worth $20.3 billion (the 13th richest person for 2007, as per Forbes).
He’s known across continents for reasons bigger than being
the only private buyer of the super-jumbo Airbus A380 or for the $20 million gifts he made to Harvard and Georgetown to expand their Islamic studies departments. He’s a man whose passion for capitalism moves far beyond just his $3.9 billion deal to buy Fairmont Hotel & Resorts, far beyond plain luxury! Want a proof? Well, he demonstrated his knowledge of what the stock markets are capable of when in February 2007, he listed his hotel holdings on the Dubai stock exchange. He further aims to get his primary investment group, Kingdom Holdings, listed on the Saudi exchange by end-2007. And what about his investments of $7.5 bn on December 4, 2007 which further increased his control in Citigroup to a commanding 4.9%, making him the largest controller of the $170.1 billion entity? A capitalst indeed!Born on March 7, 1955, Prince Al-Walid has been divorced twice and is currently married to Princess Ameera and blessed with two children – Prince Khaled and Princess Reem. He completed his Bachelor’s degree in Business Administration from Menlo College in 1979 and further completed a Masters in Social Science from Maxwell School of Syracuse University in 1985. The year 1979 saw the birth of his business career, a man who chose not to become a part of the Saudi political scene. His investment career wasn’t all that rosy to begin with though. His professional career didn’t take a kickstart initially, as real estate deals signed by him during the 1980s remained undervalued for some time. In the 1990s, when Citicorp was facing complexities his investor activities gained momentum. And there was born the real businessman .
Today, this man is no less a media tycoon too – what with huge investments in AOL, Apple, Motorola, News Corp et al. He also produced the first Saudi Arabian movie ever, titled Keif al-Hal, provoking questions about Saudi life. Talking about his venture, the Prince says, “I am correcting a big mistake, that is all. I want to tell the Arab youth that you too deserve to be entertained, you have the right to watch movies, you have the right to listen to music.” Hotels, we would say, is his other area of interest, with his real estate holdings comprising huge stakes in the Four Seasons hotel chain and the Plaza Hotel in New York, Monte Carlo Grand & many more...
Like every successful business man, he has his own way of unwinding at the end of the day. “Sometimes, I stay alone, sit alone there for one or two or three hours. I really feel serenity, at home, alone, in the middle of the desert, no lights, only the light of the fire. I feel very much comfortable in the desert.” says Al-Walid. Unlike any blue-blooded prince, he accepts modestly his passion for not so expensive things and still holds dear his second hand Jet bought from the Sultan of Brunei. This Prince might not possess the same technological expertise as the Gates or the Dells or a shrewd investment sense (his poor decisions wiped out his entire stake in internet giants many years back), but his proficiency for striking good investment deals just shields them all.
With his incredible wealth and royalty, guess its time to believe, ‘In the world of business, everyone’s the same, a king or a common man if he knows the game!
For Complete IIPM Article, Click on IIPM Article
Source : IIPM Editorial, 2008
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