Wikipedia

Al Waleed bin Talal Al Saud

(Redirected from Al-Waleed bin Talal)

In this Arabic name, the surname is Al Saud.

Al Waleed bin Talal Al Saud (Arabic: الوليد بن طلال آل سعود; born 7 March 1955) is a Saudi Arabian billionaire businessman, investor, philanthropist, and a House of Saud royal. In 2008, he was listed on Time magazine's Time 100, an annual list of the hundred most influential people in the world.[2] Al Waleed is a grandson of Abdulaziz, the first king of Saudi Arabia, and of Riad Al Solh, Lebanon's first prime minister.

Al Waleed bin Talal Al Saud
Al Waleed in 2015
Years active1979–present
Alma materMenlo College
Syracuse University
Born (1955-03-07) 7 March 1955 (age 69)[1]
Jeddah, Saudi Arabia[1]
Spouses
​
​
(m. 1976; div. 1994)​
Iman Al Sudairi
​
​
(m. 1996; div. 1997)​
Kholood Al Anazi
​
​
(m. 1999; div. 2004)​
​
​
(m. 2008; div. 2013)​
IssuePrince Khaled
Princess Reem
HouseAl Saud
FatherTalal bin Abdulaziz Al Saud
MotherMona El Solh
OccupationChairman and CEO of Kingdom Holding Company

Al Waleed is the founder, chief executive officer and 95 percent owner[3] of the Kingdom Holding Company, a 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 capitalization of over $18 billion.[5] He owns Paris' Four Seasons Hotel George V and part of New York's Plaza Hotel.[6][7] Time has called him the "Arabian Warren Buffett".[8][9] In November 2017, Forbes listed Al Waleed as the 7th-richest man in the world, with a net worth of $39.8 billion.[10][11]

On 4 November 2017, Al Waleed and other prominent Saudis (including fellow billionaires Waleed bin Ibrahim Al Ibrahim and Saleh Abdullah Kamel) were arrested in Saudi Arabia, in a purge that the Saudi government characterized as an anti-corruption drive.[12][13] The allegations against Al Waleed include money laundering, bribery, and extorting officials.[14] Some of the detainees were held in the Ritz-Carlton, Riyadh.[15] Al Waleed was released from detention on 27 January 2018, following a financial settlement of some kind, after nearly three months in detention.[16][17] In March 2018 he was dropped from the World's Billionaires list due to lack of current information.[18] He was listed in the 'Top 100 most powerful Arabs' from 2013 to 2021 by Gulf Business.[19][20][21]

Early life and education

edit

Al Waleed bin Talal was born in Jeddah on 7 March 1955[22][23] to Prince Talal bin Abdulaziz and Mona El Solh.[24][25] His father was Saudi Arabia's finance minister during the early 1960s,[26] before he went into exile due to his advocacy for political reform.[27] Al Waleed's paternal grandparents were King Abdulaziz and Munaiyir. His grandmother, an Armenian, was presented by the emir of Unayzah to King Abdulaziz in 1921, when she was 12 years old and Abdulaziz was 45.[28] His maternal grandparents were Riad Al Solh, the first prime minister of Lebanon, and Fayza Al Jabiri, the sister of Syrian Prime Minister Saadallah al-Jabiri.[29]

Al Waleed's parents separated when he was seven, and he lived with his mother in Lebanon.[27] He first attended Pinewood College in Beirut.[1]: 19–20  As a boy, he ran away from home for a day or two at a time, sleeping in unlocked cars, before attending the King Abdulaziz Military Academy in Riyadh.[27][1]: 26  In 1974, he returned to Lebanon, attending the Choueifat School and then Manor School.[1]: 27, 33  Al Waleed received a bachelor's degree in business administration from Menlo College in California in 1979,[30][31] finishing in two-and-a-half years,[1]: 43  and a master's degree with honors in social science from the Maxwell School of Citizenship and Public Affairs at Syracuse University in 1985,[32][33] finishing in eleven months.[1]: 57 

Business career

edit

Al Waleed began his business career in 1979 after graduating from Menlo College. He returned to Saudi Arabia, which was in the midst of the 1974–85 oil boom.[34] Operating from a small, four-room cabin in Riyadh and $30,000 start-up money provided by his father, Al Waleed formed Kingdom Establishment in 1980. When that money ran out in a few months, he secured a $300,000 loan from the Saudi American Bank, partly owned by Citibank. Rather than taking a commission for facilitating contracts as the legally required middleman, Al Waleed insisted on a stake in the project. His first success was in 1982, partnering with a South Korean construction company, and from then on, his commissions were used to fund his real estate deals. In his own words, "All the money I used to get from this construction I would plough back into real estate, and in the stock market, both."[1]: 42–54 

After the end of the Saudi oil boom, Al Waleed acquired the underperforming United Saudi Commercial Bank (USCB). Through mergers with Saudi Cairo Bank (SCB), forming United Saudi Bank (USB), and the Saudi American Bank (SAMBA), it became a leading Middle Eastern bank.[35] 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 Kingdom. He then secured a majority in Al-Azizia Panda, merging it with the Savola Group, and took over National Industrialization Company.[1]: 60–71, 146–148 

By 1989, his net worth was $1.4 billion, and included stakes in Canary Wharf, Four Seasons Hotel Group, and News Corporation. When Al Waleed turned to the international market, he focused on "established brands going through hard times," as Riz Khan puts it. Al Waleed would do his homework, and then wait for the proper purchase entry point. He invested about $250 million in Chase Manhattan, Citigroup, Manufacturers Hanover, and Chemical Bank. After seven months, he sold his stakes in the other banks and concentrated on investing in Citicorp, acquiring 4.9 percent of the bank. Though the worst performing bank of the four, Al Waleed considered Citicorp had the best potential.[1]: 49, 73–76, 121 

In Sept. 1990, Citibank was undercapitalized due to real estate credit losses and exposure to Latin America debt, prompting a need for a capital reserve. By Nov. they were actively seeking investors. Based on his banking experience in the Kingdom, Al Waleed agreed in Jan. 1991 to invest $590 million, about half his accumulated wealth, in a five-year convertible security paying 11 percent interest. By Feb., that took his total investment in Citicorp to $797 million, or about 15 percent of the company. Though he had received a Federal Reserve temporary waiver to own such a large portion of the company, Al Waleed sold enough shares in 1993 to get below the 10 percent threshold. Still, he was the largest shareholder in the largest US financial institution at the time. Yet, in Alwaleed's words, "It is not a relationship, it's an alliance. We are there forever with them." Sandy Weill says of Al Waleed, "I think what he did really saved the bank."[1]: 77–98 [36]

In 1993, Al Waleed purchased a 10 percent stake in Saks Fifth Avenue for $100 million. A flagship store was then opened in Riyadh.[1]: 121 

In 1994, Al Waleed secured a 50 percent controlling interest in Fairmont, and a 22 percent stake in the Four Seasons. In 1995, he bought a 42 percent stake in the Plaza Hotel, and it was reported that he was working on a music channel[37] for his satellite TV platform.

Then, in 1996, he bought the George V for $185 million, and spent $120 million renovating it for a reopening in Dec 1999. Regarding Al Waleed's investment in the George V, Issy Sharp states, "...he created value where no one else could..."[1]: 110–118 

In the same year,[when?] Al Waleed purchased a 24 percent stake in Euro Disney for $345 million.[1]: 128 

In 1995, Kingdom Establishment for Trading and Contracting was reorganized as the Kingdom Holding Company, and Al Waleed announced construction of the Kingdom Centre, Kingdom Hospital, Kingdom School and Kingdom City. Also in 1995, he bought a 2.3 percent share of Mediaset after having invested earlier in the Arab Radio and Television Network, acquiring 30 percent. In Oct. 1995, Al Waleed joined a consortium which paid $1.2 billion for control of Canary Wharf, with his share of the company amounting to 6 percent, costing him $66 million.[1]: 52, 120–121, 139–145 

In March 1997, Al Waleed purchased a 5 percent stake in Apple Inc., making him the largest shareholder. In Nov. 1997, he purchased 1 percent share of Motorola for $287 million and a five percent share of Netscape for $146 million, before its purchase by AOL and merger with Time Warner. In 2001 and 2002, Al Waleed increased his stake in AOL Time Warner by another $540 million.[1]: 122–125  He also invested in MCI, Fox Broadcasting and other technology and media companies.[38]

Time reported in 1997 that Al Waleed owned about five percent of News Corporation,[39] which he purchased for $400 million, making him the third largest shareholder. In April 1999, Al Waleed purchased an additional $200 million of preferred shares.[1]: 123–124  In 2010 his News Corporation stake was about seven percent ($3 billion). Three years later News Corporation had a $175 million (19-percent) investment in Al Waleed's Rotana Group, the Arab world's largest entertainment company. A review of his holdings implied that Al Waleed had sold his investment in AOL.[40]

In April 1997, Al Waleed purchased a 4 percent stake in Planet Hollywood for $57 million, and another 16 percent in November, 1998 for $45 million.[1]: 132 

In Oct. 1997, Al Waleed bought 27 percent of Mövenpick Hotels & Resorts, which he increased to 33 percent in 2003.[1]: 143 

In 1999, The Economist expressed doubts about the source of his income, wondering if he was a front man for other Saudi investors:

He has not earned enough income from his investments to pay for all that he has spent in the 1990s. The mystery goes back to that first stake in Citicorp. The prince has declared that this money came entirely from his personal funds. He says he started out in 1979 with a loan of just $30,000 from his father. He also mortgaged a house that his father had given him, raising something like $400,000. And each month, as a grandson of Ibn Saud, he receives $15,000. You could barely clothe a Saudi prince for such sums, let alone furnish him with a multi-billion-dollar empire. Nevertheless, by 1991 Prince Alwaleed had felt able to risk an investment of $797m in Citicorp.[36]

Al Waleed invested in WorldCom, Priceline.com, Coca-Cola, and Ford Motor Company, totaling almost $2 billion. In Asia, he bought 5.9 percent of Daewoo for $50 million, which he increased to 18 percent with an additional $100 million investment, 3 percent of PROTON Holdings for $46 million, 3 percent of Ong Beng Seng's Hotel Properties Ltd., and $50 million worth of Hyundai Motor Company bonds. In Africa, he invested $50 million, acquiring 10 percent of Sonatel, 10 percent of Ecobank, 13.7 percent of United Bank for Africa, and 14 percent of CAL Bank. Investments which turned out poorly included WorldCom, Priceline, Teledesic, and KirchMedia, besides Planet Hollywood and Euro Disney.[1]: 133–137, 152 

His stake in Apple was sold in 2005.[27] Al Waleed also invested in Eastman Kodak and TWA, both of which performed moderately well.[41]

In 2002, Al Waleed formed Kingdom Hotel Investments to oversee his hotel assets.[1]: 108 

By 2003, Al Waleed owned 100 percent of Rotana, and 49 percent of LBC Sat.[1]: 144–146 

His real-estate holdings included large stakes in the Four Seasons Hotels and Resorts and New York's Plaza Hotel; Al Waleed sold half his shares in the Plaza in August 2004. He has invested in London's Savoy Hotel and Monaco's Monte Carlo Grand Hotel. Al Waleed holds a ten-percent stake in Euro Disney S.C.A., the company which owns, manages and maintains Disneyland Paris in Marne-la-Vallée.[42][1]: 113–114 

The 2004 Forbes list of wealthiest people had Al Waleed fourth, with a net worth of $21.5 billion. More than $1.3 billion was in hotel holdings.[1]: 99, 115 

 
The Savoy Hotel in London is owned by Al Waleed

In January 2005, Al Waleed purchased the Savoy Hotel in London for an estimated £250 million, to be managed by Fairmont Hotels and Resorts; his sister, Sultana Nurul, owns an estimated 16 percent stake. In January 2006, in partnership with the U.S. real-estate firm Colony NorthStar, Kingdom Holding acquired Toronto-based Fairmont Hotels and Resorts for an estimated $3.9 billion. It was reported in 2009 that Al Waleed owned 35 percent of Research and Marketing Group (SRMG), a large mid-east media company.[43]

In August 2011, Al Waleed announced that his company had contracted with the Saudi Binladin Group to build the world's tallest building, the Kingdom Tower (at a height of at least 1,000 metres (3,300 ft)) for SR 4.6 billion.[44] The original plan—announced in 2008—called it برج الميل (Arabic for "One-Mile Tower"), at a height of 1,609 metres (5,279 ft)[45] and an estimated cost of $20 billion.[46]

In December 2011, Al Waleed invested $300 million in Twitter, purchasing secondary shares from insiders.[47] The purchase gave Kingdom Holding a "more than 3% share" in the company, which was valued at $8 billion in late summer 2011.[3]

In 2015, he announced that he would donate his fortune to charity at an unspecified date. He had previously donated $3.5 billion over the course of 35 years through his charitable organization Alwaleed Philanthropies.[48]

From 2015 to 2021, he lost several lawsuits against Pierre El Daher, CEO of LBCI, and would be required to pay $22m, due to breaches in contract conditions with the Lebanese broadcaster.[49]

In May 2022, he was listed as committing to purchase approximately 35 million shares of Twitter Inc. at or immediately prior to the purchase of Twitter by Elon Musk and other private-equity investors behind Musk's bid.[50]

Arrest and release

edit
Main article: 2017 Saudi Arabian purge

On 4 November 2017, Al Waleed was one of those arrested in Saudi Arabia in a "corruption crackdown" conducted by a new royal anti-corruption committee.[56] In total, 320 princes, ministers and businessmen were detained at the five-star Ritz-Carlton Hotel in Riyadh.[57] This was done on the orders of Crown Prince Mohammad bin Salman, who acted with the aim of consolidating his position as the next ruler of the kingdom.[58] Crown Prince Mohammad bin Salman is Al Waleed's first cousin; both are male-line grandsons of Ibn Saud, first monarch and founder of Saudi Arabia.

Al Waleed and most of the other Saudi notables arrested made financial settlements of some kind with the Saudi government before they were released.[16] In his case, as in the case of most of the other detainees, the Saudi Arabian government did not disclose charges or produce evidence, and the negotiations were held in secret.[59] In December, some weeks after the arrests, it was reported that the Saudi Arabian authorities were demanding $6 billion from Prince Al Waleed bin Talal in exchange for his release.[60][61]

Al Waleed was released from detention in late January 2018, nearly three months after his arrest.[17] According to a Wall Street Journal report, the price for his release was $6 billion.[62] In comparison, his first cousin Prince Mutaib bin Abdullah, son of the late King Abdullah (1924–2015), was released after reportedly paying $1 billion.[63]

Just days before his arrest, Al Waleed reportedly contacted US-based Saudi journalist Jamal Khashoggi (who had publicly criticized the Saudi government in the past) and invited him to return to the Kingdom to contribute to Mohammad bin Salman's vision.[64]

Forbes dispute

edit

In 2013, Kerry Dolan, editor of Forbes' annual billionaires' list, wrote an article accompanying the list entitled "Prince Alwaleed and the Curious Case of Kingdom Holding Stock".[27] According to Dolan, Al Waleed attached great importance to the Forbes list and she alleged a correlation between changes in the share price of Kingdom Holdings and the annual run-up to the list's publication.[27] In the Forbes article, Dolan wrote that Al Waleed would blind copy Dolan on text messages he sent to prominent people in an attempt to impress her. She spent a week with him in Riyadh in 2008, at his behest, touring his palaces. In 2006 Forbes estimated Al Waleed's net worth at $7 billion less than he claimed. He telephoned Dolan at home, according to the editor, "nearly in tears".[27] Al Waleed had Kingdom Holding's chief financial officer fly to New York before a previous list was published to ensure that Forbes used his stated numbers.[27]

The article explains the methodology behind Forbes' 2013 estimate of his wealth at $20 billion, examines Kingdom Holdings' share performance and contains Dolan's communications with Kingdom Holdings CFO Shadi Sanbar. Sanbar demanded that Al Waleed's name be removed from the billionaires' list if Forbes did not increase its valuation of his wealth.[27] Dolan wrote, "As Forbes asked increasingly specific questions in the process of fact-checking this story, the prince acted unilaterally the day before it was published, announcing through his office that he would 'sever ties' with the list."[27] Sanbar said in a press release, "Prince Alwaleed has taken this step as he felt he could no longer participate in a process which resulted in the use of incorrect data and seemed designed to disadvantage Middle Eastern investors and institutions."[27]

Al Waleed said in a March 2013 interview with The Sunday Telegraph that he would pursue legal action against Forbes.[65] "They are accusing me of market manipulation," Al Waleed said. "This is all wrong and a false statement. We will fight it all the way against Forbes."[65] He called the Forbes list "flawed and inaccurate", saying that it "displays bias against Middle East investors and financial institutions."[65]

The Guardian reported that on 6 June 2013, Al Waleed had brought a defamation claim in London against the publisher of Forbes; its editor, Randall Lane, and two journalists from the magazine.[66] Forbes expressed surprise at the libel action and the fact that it was filed in London.[66] According to the magazine, "The Prince's suit would be precisely the kind of libel tourism that the UK's recently passed libel reform law is intended to thwart. We would anticipate that the London high court will agree. Forbes stands by its story."[66] As of 20 June, Forbes had not been served with papers.[67]

A statement issued by the Kingdom Holding Company accused Forbes of publishing a "deliberately insulting and inaccurate description of the business community in Saudi Arabia and specifically, Forbes' denigration of the Saudi stock exchange (Tadawul), which is one of the most regulated in the world". According to Al Waleed, the magazine used an "irrational and deeply flawed valuation methodology, which is ultimately subjective and discriminatory".[68]

On 16 June 2015, Forbes and Al Waleed released a joint statement announcing that they had settled their dispute "on mutually agreeable terms". The opening of the Saudi stock exchange to foreign investors was cited as key in the defendants' willingness to consider the stock price of Al Waleed's publicly traded Kingdom Holding Company in valuing the KHC component of his wealth.[69]

Political views

edit

Al Waleed tweeted a statement with a picture of himself holding an honorary Palestinian passport, "In response to the news of the visit to Israel: I have not and will not visit Jerusalem or pray inside it until its liberation from the Zionist enemy. And I carry an honorary Palestinian passport".[70]

In 2015, Al Waleed was criticised for offering to buy Bentley cars for Saudi fighter pilots involved in the Saudi Arabian-led intervention in Yemen. In a tweet later deleted, he said: "In appreciation of their role in this operation, I'm honoured to offer 100 Bentley cars to the 100 Saudi [fighter] pilots".[71]

Philanthropy

edit

In July 1997, Al Waleed invested $10 million with the Palestinian Investment and Development Company (PADICO), and then helped cofound the Jerusalem Development and Investment Company (JEDICO).[1]: 149 150 

In 2002, Al Waleed donated $500,000 to help fund the George Herbert Walker Bush scholarship at Phillips Academy in Andover, Massachusetts.[40] He donated £18.5 million to Palestinian families during a TV telethon ordered by Saudi King Fahd to help relatives of Palestinians after Israeli operations in the West Bank city of Jenin. In 2004, he contributed $17 million to victims of the 2004 Indian Ocean earthquake and tsunami.[72]

On 1 July 2015, Al Waleed held a press conference announcing his intention to donate $32 billion to philanthropic causes. He said that the funds would be used for humanitarian projects such as the empowerment of women and youth, disaster relief, disease eradication and building bridges of understanding between cultures.[73]

Donation after 11 September attacks

edit

After the 11 September attacks, Al Waleed gave a cheque for $10 million to New York City Mayor Rudy Giuliani, despite Saudi opposition. In a written statement after his donation, Al Waleed said: "At times like this, we must address some of the issues that led to such a criminal attack. I believe the government of the United States of America should re-examine its policies in the Middle East and adopt a more balanced stance toward the Palestinian cause." As a result of that statement, Giuliani returned his cheque.[74][75] Al Waleed said to a Saudi weekly magazine about Giuliani's rejection of his check, "The whole issue is that I spoke about their position [on the Middle East conflict] and they didn't like it because there are Jewish pressures and they are afraid of them."[76]

Giuliani replied to this by suggesting that Al Waleed's comment was actually part of the problem: "There is no moral equivalent for this [terrorist] act. There is no justification for it... And one of the reasons I think this happened is because people were engaged in moral equivalency in not understanding the difference between liberal democracies like the United States, like Israel, and terrorist states and those who condone terrorism. So I think not only are those statements wrong, they're part of the problem."[77]

Western universities

edit

In 2005, Al Waleed gave Georgetown University $20 million to create the Prince Alwaleed bin Talal Center for Muslim-Christian Understanding (ACMCU) in the university's School of Foreign Service, the second largest donation in the school's history.[78] On 8 May 2008, Al Waleed gave £16 million to Edinburgh University to fund a "centre for the study of Islam in the contemporary world".[79] He has also endowed the Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud Center for American Studies and Research (CASAR).[80] The Institute for Computational Biomedicine at Weill Cornell Medical College is named for Al Waleed.[81] The Centre of Islamic Studies at the University of Cambridge[82] and the Islamic Studies Program at Harvard University are also named after him.[83][84] At his alma mater Syracuse University, Al Waleed is an honorary member of the advisory board of the Maxwell School of Citizenship and Public Affairs.[32][85]

First Saudi female pilot

edit

Al Waleed is considered a proponent of female emancipation in the Saudi world. He financed the training of Hanadi Zakaria al-Hindi as the first Saudi woman commercial airline pilot, and said at her graduation that he is "in full support of Saudi ladies working in all fields".[86] Al-Hindi became certified to fly within Saudi Arabia in 2014.[87]

Assets

edit
 
Kingdom 5KR

Al Waleed owns the 65th-largest private yacht in the world, the 85.9-metre (282 ft) Kingdom 5KR (originally built as the Nabila for Saudi arms dealer Adnan Khashoggi in 1979). In 1983, owned by Khashoggi, it appeared as the Flying Saucer (the yacht of James Bond's villain, Largo) in Never Say Never Again. It was sold to Donald Trump, who renamed her the Trump Princess. Al Waleed bought the yacht after Trump experienced financial problems in the late 1980s.[88]

Al Waleed ordered a yacht known as the New Kingdom 5KR, about 173 metres (568 ft) long with an estimated cost of over $500 million. The yacht is designed by Lindsey Design, and its design was delivered in late 2010.[89]

He owns several aircraft converted for private use: a Boeing 747,[90] an Airbus A321 and a Hawker Siddeley 125. Al Waleed was the first individual to purchase an Airbus A380 and was due to take delivery of it in the spring of 2013, but it was sold before delivery.[41]

Among his assets are a 95-percent stake in Kingdom Holding Company; 91-percent ownership of Rotana Video and Audio Visual Company; 90-percent ownership of the Lebanese Broadcasting Corporation; seven-percent ownership of News Corporation; about six-percent ownership of Citigroup, and a 17-percent ownership of Al Nahar and a 25-percent ownership of Ad-Diyar (two daily newspapers published in Lebanon). Al Waleed topped the first Saudi Rich List in 2009, with assets of $16.3 billion.[91]

Palaces

edit

Al Waleed owns three palaces: two existing and a third under construction. The 250,000-square-foot (23,000 m2) Kingdom Palace, in central Riyadh, is his primary home. According to Time magazine, "Al Waleed lives in Riyadh, Saudi Arabia in a $130 million sand-colored palace whose 317 rooms are adorned with 1,500 tons of Italian marble, silk oriental carpets, gold-plated faucets and 250 TVs. It has four kitchens, for Arabic, Continental and Asian cuisines, and a fourth just for dishing up desserts, run by chefs who can feed 2,000 people on an hour's notice. There is also a lagoon-shaped pool and a 45-seat basement cinema".[92] The 500,000-square-foot (46,000 m2) Kingdom Resort, also in central Riyadh, has three lakes interspersed with gardens. The 4,000,000-square-foot (370,000 m2) Kingdom Oasis, under construction, will have a 70,000-square-metre (17-acre) lake and a private zoo.

Awards

edit

Al Waleed received the first order[93] of the Order of King Abdulaziz of Saudi Arabia[94] in 2002 and is a recipient of the Lebanese National Order of the Cedar.[94] On 2 December 2009, he received the Order of Izzudin from Maldives President Mohamed Nasheed;[95] that year he also received the Star of Palestine, the highest honour conferred by the State of Palestine.[96] In 2010, Al Waleed received the Dwight D. Eisenhower Award for Innovation.[97] He received the Bahrain Medal of the First Order, the country's highest honorary medal in late May 2012.[98] He received the Nepalese third-order Mahaujjval Rastradip Manpadvi, the highest award bestowed on a foreigner,[99] and Guinea-Bissau's Colina De Boe Medal in August 2012.[100] In June 2013 Al Waleed was made Grand Commander of the Order of the Republic of Sierra Leone (GCRSL), the country's highest honour.[101] On 13 December 2014, he was made an Honorary Companion of the National Order of Merit of the Republic of Malta.[102]

Honors

edit

Saudi Arabian national honours

edit
Ribbon bar Honour
  Member 1st Class of the Order of Abdulaziz Al Saud

Foreign honors

edit
Ribbon bar Country Honour
    Bahrain Member 1st Class of the Khalifiyyeh Order of Bahrain
    Benin Grand Officer of the National Order of Benin
    Brunei Member 1st Class of the Family Order of Laila Utama
    Bulgaria Member 1st Class of the Order of the Balkan Mountains
    Burkina Faso Commander of the National Order of Burkina Faso
    Burundi Grand Cross of the National Order of the Republic of Burundi
    Chad Grand Officer of the National Order of Chad
    Comoros Commander of the Star of Anjouan
    Central African Republic Grand Cross of the National Order of Merit of Central African Republic
    Djibouti Grand Cordon of the National Order of the Star of Djibouti
    France Commander of the Legion of Honour
    Gabon Grand Cross of the National Order of Merit of Gabon
    Gambia Grand Commander of the Order of the Republic of The Gambia
    Ghana Companion of the Order of the Volta
    Guinea Commander of the National Order of Merit of Guinea
    Equatorial Guinea Grand Cross of the Order of Independence
    Jordan Grand Cordon of the Order of the Star of Jordan
    Ivory Coast Grand Cross of the National Order of the Ivory Coast
    Kenya Grand Cordon of the Chief of the Order of the Golden Heart of Kenya
    Lebanon Grand Officer of the National Order of the Cedar
    Liberia Grand Cordon of the Order of the Star of Africa
    Madagascar Grand Cross of the National Order of Madagascar
    Mauritania Commander of the National Order of Merit of Mauritania
    Maldives Grand Cordon of the Order of the Distinguished Rule of Izzuddin
    Mali Grand Officer of the National Order of Mali
    Malta Companion of the National Order of Merit
    Monaco Grand Officer of the Order of Grimaldi
    Morocco Grand Cordon of the Order of Ouissam Alaouite
    Netherlands Officer of the Order of Orange-Nassau
    Niger Grand Cordon of the National Order of Merit of Niger
    Palestine Grand Cordon of the Order of the State of Palestine
    Pakistan Second Class of Nishan-e-Pakistan
    Philippines Grand Officer of Order of Sikatuna
    Senegal Grand Officer of the National Order of the Lion
    Sierra Leone Grand Gordon of the Order of the Republic
    South Korea Sungnye Medal of the Order of Diplomatic Service Merit
    Sudan Grand Cordon of the Republic of the Sudan
    Syria Member 1st Class of the Order of the Umayyads
    Taiwan Grand Cordon of the Order of Brilliant Star
    Togo Grand Officer of the Order of Mono
    Tunisia Grand Officer of the Order of the Republic
    Tunisia Grand Cordon of the Order of the Seventh of November
    Vietnam Medal of the Friendship Order
    Uganda Companion of the Most Excellent Order of the Pearl of Africa

Personal life

edit
 
His first wife, Dalal, as a child, standing between her father King Saud and John F. Kennedy, 1962

Al Waleed has been married multiple times.[103] His first marriage was in 1976, at the age of 19.[1]: 34  His first wife was his cousin, Princess Dalal bint Saud, a daughter of King Saud. They have two children (Prince Khaled,[104] born on 21 April 1978 and Princess Reem, born on 20 June 1982),[1]: 37, 57 [105] and later divorced,[106] in December 1994.[1]: 173 

In 1996, Al Waleed married Princess Iman Sudairi, but the marriage lasted only approximately a year.[1]: 174  After divorcing his second wife, Al Waleed married Kholood Al Anazi,[107][108] in 1999. They were divorced in 2004.[1]: 174, 177 

His fourth wife was Ameera al-Taweel; after about six years of marriage, they divorced in 2014. In an interview, he said: "Yes, I announce it through Okaz—Saudi Gazette for the first time. I have officially separated from Princess Ameera Al-Taweel, but she remains a person that I have all respect for."[109][110]

Ancestry

edit

See also

edit

References

edit
  1. ^ a b c d e f g h i j k l m n o p q r s t u v w x y z aa ab ac ad Khan, Riz (2005). Alwaleed, Businessman Billionaire Prince. New York: HarperCollins. p. 19. ISBN 9780060850302.
  2. ^ Khan, Riz (12 May 2008). "Prince Alwaleed bin Talal". Time. Archived from the original on 20 April 2014. Retrieved 19 April 2014.
  3. ^ a b Knickmeyer, Ellen, "Saudi prince invests $300M for 3% stake in Twitter" Archived 7 January 2012 at the Wayback Machine, Zawya Dow Jones via affiliate Market Watch, 19 December 2011. Retrieved 19 December 2011
  4. ^ "Alwaleed About". Archived from the original on 3 May 2014. Retrieved 24 May 2014.
  5. ^ "Kingdom Holding on the Forbes Global 2000 List". Forbes. Archived from the original on 24 May 2016. Retrieved 12 July 2016.
  6. ^ "The 2009 TIME 100 Finalists". Time. 19 March 2009. Archived from the original on 11 October 2016. Retrieved 12 July 2016 – via content.time.com.
  7. ^ William D. Cohan. "The Creation Myth of Prince Alwaleed bin Talal, Saudi Arabia's Billionaire Investor". Vanity Fair. Archived from the original on 12 July 2016. Retrieved 12 July 2016.
  8. ^ "Alwaleed bin Talal bin Abdulaziz Al Saud". Alwaleed bin Talal bin Abdulaziz Al Saud. Archived from the original on 6 May 2014. Retrieved 24 May 2014.
  9. ^ Jehl, Douglas (28 March 1999). "Buffett of Arabia? Well, Maybe". The New York Times. Archived from the original on 7 March 2017. Retrieved 24 May 2017.
  10. ^ "The World's Billionaires". Forbes. Retrieved 2 March 2016.[dead link‍]
  11. ^ "Saudi Billionaire Alwaleed bin Talal's Net Worth Takes A Hit After News of His Arrest". Forbes. Archived from the original on 7 November 2017. Retrieved 7 November 2017.
  12. ^ a b Kirkpatrick, David D. (4 November 2017). "Saudi Arabia Arrests 11 Princes, Including Billionaire Alwaleed bin Talal". The New York Times. Archived from the original on 8 November 2017. Retrieved 8 November 2017.
  13. ^ Agencies, Daily Sabah With (5 November 2017). "Alwaleed bin Talal, two other billionaires tycoons among Saudi arrests". Daily Sabah. Archived from the original on 5 November 2017. Retrieved 5 November 2017.
  14. ^ "Future Saudi king tightens grip on power with arrests including Prince Alwaleed". Reuters. 6 November 2017. Archived from the original on 6 November 2017. Retrieved 6 November 2017.
  15. ^ Prince Alwaleed bin Talal, billionaire investor, is released from custody in Saudi Arabia, relative says Archived 27 January 2018 at the Wayback Machine
  16. ^ a b Waleed-freed-after-settlement-doc-y10ws2 "Saudi billionaire Prince Al Waleed freed after 'settlement'". Agence France-Presse. 27 January 2018. Archived from the original on 28 January 2018. Retrieved 27 January 2018. The prince was released following an undisclosed financial agreement with the government, similar to deals that authorities struck with most other detainees in exchange for their freedom. {{cite web}}: Check |url= value (help)
  17. ^ a b Ben Hubbard, Billionaire Saudi Prince, Alwaleed bin Talal, Is Freed From Detention Archived 27 January 2018 at the Wayback Machine, The New York Times (27 January 2017).
  18. ^ Dolan, Kerry (6 March 2018). "Why No Saudi Arabians Made The Forbes Billionaires List This Year". Forbes. Archived from the original on 6 March 2018. Retrieved 6 March 2018.
  19. ^ "Top 100 Powerful Arabs 2013". Gulf Business. Retrieved 16 August 2021.
  20. ^ "Top 100 Powerful Arabs 2017". Gulf Business. Retrieved 16 August 2021.
  21. ^ "Top 100 most powerful Arabs 2021". Gulf Business. Retrieved 16 August 2021.
  22. ^ Gornail, Jonathan (8 March 2013). "Newsmaker: Prince Al Waleed bin Talal bin Abdulaziz Al Saud". The National. Retrieved 18 July 2013.[dead link‍]
  23. ^ Sherifa Zuhur (31 October 2011). Saudi Arabia. ABC-CLIO. p. 97. ISBN 978-1-59884-571-6.
  24. ^ Mamoun Fandy (2007). (Un)civil War of Words: Media and Politics in the Arab World. Greenwood Publishing Group. p. 43. ISBN 978-0-275-99393-1.
  25. ^ Moubayed, Sami (1 February 2011). "Lebanon cabinet: A tightrope act". Lebanon Wire. Archived from the original on 23 March 2013. Retrieved 7 April 2013.
  26. ^ Yitzhak Oron, Ed. (1961). "The Saudi Arabian Kingdom". Middle East Record. 2: 417–431 (419).
  27. ^ a b c d e f g h i j k Dolan, Kerry A. (5 March 2013). "Prince Alwaleed and the Curious Case of Kingdom Holding Stock". Forbes. New York. Archived from the original on 29 July 2017. Retrieved 23 August 2017.
  28. ^ "Asia Times Online". Archived from the original on 8 August 2002.{{cite web}}: CS1 maint: unfit URL (link)
  29. ^ The Middle East enters the twenty-first century, By Robert Owen Freedman, Baltimore University 2002, page 218.
  30. ^ Nanette Asimov (12 May 2015). "Tiny Menlo College is like home for Saudi elite". SfGate. Retrieved 9 August 2020.
  31. ^ Peel, Michael (8 March 2013). "Prince Alwaleed, singular Saudi scion". Financial Times. Archived from the original on 14 March 2013. Retrieved 2 April 2013.
  32. ^ a b Rose, Kennedy (5 November 2017). "Saudi prince who serves on Maxwell board arrested on charges related to corruption". The Daily Orange. Retrieved 31 January 2021.
  33. ^ "Prince Alwaleed bin Talal Al Saud". Forbes. March 2011. Archived from the original on 21 July 2011. Retrieved 23 August 2017.
  34. ^ Saudi Arabia. Economic Policy During the Oil Boom, 1974–85 Archived 29 October 2012 at the Wayback Machine. country-data.com
  35. ^ "Prince Waleed: The Saudi dealmaker on Wall Street". Khaleej Times. Archived from the original on 25 May 2015. Retrieved 10 December 2013.
  36. ^ a b "'The mystery of the world's second-richest businessman'". The Economist. 25 February 1999. Archived from the original on 3 December 2008. Retrieved 14 November 2008.
  37. ^ Stilson, Janet; William Mahoney (1 November 1995). "Rock 'n' Rollouts". Multichannel News International. Capital Cities/ABC. p. 9. Retrieved 16 May 2024.
  38. ^ "Kingdom Holding Company (KHC)". Zawya. 30 June 2009. Archived from the original on 5 January 2013. Retrieved 8 March 2010.
  39. ^ Macleod, Scott (1 December 1997). "Prince Alwaleed: The Prince and the Portfolio". Time. Archived from the original on 13 September 2010. Retrieved 24 August 2010.
  40. ^ a b Gustin, Sam (16 August 2010) "News Corp., the Saudi Prince and the 'Ground Zero Mosque'" Archived 21 August 2010 at the Wayback Machine, Daily Finance (AOL), via Rich, Frank (21 August 2010) "How Fox Betrayed Petraeus" Archived 23 June 2017 at the Wayback Machine, The New York Times, p. WK8 NY ed.. Retrieved 22 August 2010.
  41. ^ a b Neville, Simon; Moulds, Josephine (5 March 2013). "Prince Alwaleed bin Talal insulted at only being No 26 on Forbes rich list". The Guardian. London. Archived from the original on 17 November 2015. Retrieved 14 November 2015.
  42. ^ Disneyland Resort Paris, Annual review 2007, p. 53
  43. ^ "Ideological and Ownership Trends in the Saudi Media". Cablegate. 11 May 2009. Archived from the original on 16 January 2013. Retrieved 1 May 2012.
  44. ^ Khan, Ghazanfar Ali; Abbas, Maher (2 August 2011). "Kingdom Holding to build world's tallest tower in Jeddah". Arab News. Archived from the original on 19 March 2012. Retrieved 2 August 2011.
  45. ^ Shaw, Matt. "10 Facts About the Kingdom Tower, the Soon-To-Be Tallest Building in the World" Archived 17 March 2016 at the Wayback Machine, Architizer, 22 April 2014. Accessed 15 March 2016.
  46. ^ Pink, Roger. "Scraping the Sky: The 1 km-Tall Kingdom Tower" Archived 27 March 2016 at the Wayback Machine, Globalspec, 19 February 2015. Accessed 15 March 2016.
  47. ^ Primack, Dan (19 December 2011). "Twitter doesn't really raise money from Saudi prince". Fortune. Archived from the original on 8 September 2014. Retrieved 19 December 2011.
  48. ^ Maceda, Cleofe (2 July 2015). "Senior Web Reporter". Gulf News. Archived from the original on 4 July 2015. Retrieved 2 July 2015.
  49. ^ Sebastian Perry (16 March 2021). "Lebanese broadcaster's award upheld in Paris". Global Arbitration Review.
  50. ^ Elon Musk (5 May 2022). "Amendment No. 6 to Schedule 13D". U.S. Securities Exchange.
  51. ^ "Saudi Arabia princes detained, ministers dismissed". www.aljazeera.com. Archived from the original on 7 November 2017. Retrieved 8 November 2017.
  52. ^ Kalin, Stephen; Paul, Katie (5 November 2017). "Future Saudi king tightens grip on power with arrests including Prince Alwaleed". Reuters. Archived from the original on 5 November 2017. Retrieved 7 November 2017.
  53. ^ "Corruption crackdown in Saudi Arabia". Fox Business. 6 November 2017. Archived from the original on 8 November 2017. Retrieved 8 November 2017.
  54. ^ David, Javier E. (5 November 2017). "Billionaire Saudi Prince Alwaleed Bin Talal arrested in corruption crackdown". CNBC. Archived from the original on 7 November 2017.
  55. ^ Stancati, Margherita; Said, Summer; Farrell, Maureen (5 November 2017). "Saudi Princes, Former Ministers Arrested in Apparent Power Consolidation". The Wall Street Journal. ISSN 0099-9660. Archived from the original on 8 November 2017. Retrieved 8 November 2017.
  56. ^ [51][52][53][54][55][12]
  57. ^ Browne, Gareth (25 December 2017). "Saudi Arabia demands $6 billion for the release of Prince Al Waleed Bin Talal, one of the richest men in the world" – via www.telegraph.co.uk.[dead link‍]
  58. ^ Agencies (27 January 2018). "Saudi prince Alwaleed bin Talal released from detention". the Guardian. Retrieved 30 November 2018.
  59. ^ "Alwaleed Reveals Secret Deal Struck to Exit Ritz After 83 Days". Bloomberg.com. 20 March 2018. Retrieved 26 September 2020.
  60. ^ Browne, Gareth (25 December 2017). "Saudi Arabia demands $6 billion for the release of Prince Al Waleed Bin Talal, one of the richest men in the world". The Telegraph. ISSN 0307-1235. Retrieved 30 November 2018.[dead link‍]
  61. ^ London, Margherita Stancati in Riyadh, Summer Said in Dubai and Benoit Faucon in. "The Price of Freedom for Saudi Arabia's Richest Man: $6 Billion". WSJ. Retrieved 30 November 2018.{{cite news}}: CS1 maint: multiple names: authors list (link)
  62. ^ Margherita Stancati; Summer Said; Benoit Faucon (23 December 2017). "The Price of Freedom for Saudi Arabia's Richest Man: $6 Billion". The Washington Post.
  63. ^ "Saudi anti-corruption drive: Prince Miteb freed 'after $1bn deal'". BBC News. 29 November 2017.
  64. ^ "Saudi anti-corruption purge: All the latest updates". www.aljazeera.com. Archived from the original on 9 November 2017. Retrieved 9 November 2017.
  65. ^ a b c Sylt, Christian (16 March 2013). "Saudi Prince to Fight Forbes Over Rich List". The Sunday Telegraph. London. Archived from the original on 30 April 2013. Retrieved 29 April 2013.
  66. ^ a b c Holliday, Josh (6 June 2013). "Saudi prince launches libel action against Forbes magazine over Rich List". The Guardian. London. Archived from the original on 6 October 2013. Retrieved 6 June 2013.
  67. ^ Dolan, Kerry (20 June 2013). "Is Prince Alwaleed Trying To Undermine The Saudi King?". Forbes. Archived from the original on 24 June 2013. Retrieved 20 June 2013.
  68. ^ "Saudi Arabia's Prince Alwaleed defends libel action". BBC News Online. 13 June 2013. Archived from the original on 16 June 2013. Retrieved 21 June 2013.
  69. ^ "Prince Alwaleed and Forbes settle libel case". Arabian Business. 16 June 2015. Archived from the original on 16 June 2015. Retrieved 16 June 2015.
  70. ^ @Alwaleed_Talal (24 July 2015). "ردا على خبر زيارة إسرائيللم ولن أزور القدس وأصلي بها إلا بعد تحريرها من العدو الصهيونيوأحمل جواز سفر فلسطيني شرفي" (Tweet) – via Twitter.
  71. ^ "Saudi prince criticised for offering Bentleys to pilots bombing Yemen". 23 April 2015. Archived from the original on 8 January 2018. Retrieved 4 April 2018.
  72. ^ "Saudi telethon raises $77 million". CNN. 7 January 2005. Archived from the original on 24 October 2012. Retrieved 23 April 2010.
  73. ^ Omran, Ahmed Al. "Saudi Prince Pledges $32 Billion to Good Causes, With Women's Rights a Focus". The Wall Street Journal. Archived from the original on 14 February 2017. Retrieved 5 March 2017.
  74. ^ "$10 Million? NYC Says No Thanks". CBS. 18 September 2001. Archived from the original on 29 June 2012. Retrieved 22 April 2012.
  75. ^ "New York Rejects Saudi Millions". BBC News. 12 October 2001. Archived from the original on 15 April 2008. Retrieved 14 April 2012.
  76. ^ "Big Bad Apple". Al Ahram Weekly. 18–24 October 2001. Archived from the original on 25 March 2013. Retrieved 14 April 2012.
  77. ^ "Giuliani rejects $10 million from Saudi prince". CNN. 12 October 2001. Archived from the original on 9 December 2007. Retrieved 22 May 2010.
  78. ^ "Saudi Gives $20 Million to Georgetown". Washington Post. 13 December 2005. Archived from the original on 16 June 2017. Retrieved 8 November 2017.
  79. ^ "Saud to improve Islamic studies". Times Higher Education. 8 May 2008. Archived from the original on 30 November 2012. Retrieved 22 April 2012.
  80. ^ "AUB – CASAR – Home". Archived from the original on 24 July 2016. Retrieved 12 July 2016.
  81. ^ "The HRH Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud Institute for Computational Biomedicine". New York City: Weill Cornell Medical College. Archived from the original on 30 May 2014. Retrieved 27 June 2014.
  82. ^ Centre of Islamic Studies, Cambridge
  83. ^ "Alwaleed Islamic Studies Program". Archived from the original on 10 July 2016. Retrieved 12 July 2016.
  84. ^ "HRH Prince Alwaleed Bin Talal Centre of Islamic Studies". University of Cambridge. Retrieved 12 February 2017.
  85. ^ "Maxwell School: Advisory Board". The Maxwell School of Syracuse University. 24 October 2008. Retrieved 31 January 2021.
  86. ^ First Saudi Female Pilot Lands Job With Kingdom Holding Archived 24 November 2004 at the Wayback Machine, 24 November 2004. Includes photo.
  87. ^ "Saudi Arabia: First woman to get pilot license". BBC News. 23 April 2014. Archived from the original on 25 May 2015. Retrieved 12 July 2016.
  88. ^ Prince Al Waleed's yacht Archived 27 June 2006 at the Wayback Machine. Yachts.monacoeye.com (31 May 2006). Retrieved on 17 January 2014.
  89. ^ – Project New Kingdom 5KR Archived 3 December 2008 at the Wayback Machine. Agent4stars.com. Retrieved on 17 January 2014.
  90. ^ Morrison, Murdo (17 October 2014), "Ultimate corporate jets: Nine private aircraft that combine business with pleasure", Flightglobal, Reed Business Information, archived from the original on 19 October 2014, retrieved 17 October 2014
  91. ^ "Prince Alwaleed tops first Saudi Rich List". Arabian Business. 30 August 2009. Archived from the original on 1 September 2009. Retrieved 30 August 2009.
  92. ^ "Prince Alwaleed: The Prince and the Portfolio". Time. 1 December 1997. Archived from the original on 4 May 2010. Retrieved 23 April 2010.
  93. ^ "Medals Received by Al waleed bin Talal". Al Waleed official website. 2002. Archived from the original on 22 September 2013. Retrieved 10 August 2013.
  94. ^ a b "Prince Alwaleed bin Talal". Arab Bankers Association of North America. 2 December 2002. Archived from the original on 11 May 2005. Retrieved 18 July 2013.
  95. ^ "Presidencymaldives.gov". Archived from the original on 29 April 2014. Retrieved 28 April 2014.
  96. ^ "Maldives president awarded highest honour of Palestine". Haveeru Online. 5 June 2013. Archived from the original on 2 February 2014. Retrieved 18 July 2013.
  97. ^ "BCIU Gala". bciu.org. Archived from the original on 24 June 2012.
  98. ^ "Prince Alwaleed bin Talal receives Bahrain Medal of the First Order". Saudi Gazette. 31 May 2012. Archived from the original on 1 February 2014. Retrieved 1 June 2012.
  99. ^ "साउदी राजकुमारलाई नेपालले उतै तक्मा पठायो". Nagarik News. 14 August 2012. Archived from the original on 17 August 2012.
  100. ^ "Alwaleed awarded Colina De Boe medal". Saudi Gazette. 27 August 2012. Archived from the original on 1 February 2014. Retrieved 1 January 2013.
  101. ^ "Sierra Leone to decorate Saudi Prince with its Highest National Honours". Awareness Times. 10 June 2013. Archived from the original on 15 July 2013. Retrieved 17 July 2013.
  102. ^ "REPUBLIC DAY – HONOURS AND AWARDS 2014". Archived from the original on 13 May 2016. Retrieved 12 July 2016.
  103. ^ "لهذا السبب "طلّقها" الأمير بن طلال". Jordan Zad News. Retrieved 20 May 2021.
  104. ^ "Khaled bin Alwaleed bin Talal Al Saud Biography". Archived from the original on 3 July 2016. Retrieved 12 July 2016.
  105. ^ "Daughters and sons of King Saud". King Saud net. Archived from the original on 13 September 2013. Retrieved 5 May 2012.
  106. ^ Kapoor, Talal (1 August 2007). "Wedding of the century: Rim bint Al Walid and Abdulaziz bin Musa'id". Datarabia. Archived from the original on 1 May 2013. Retrieved 11 May 2012.
  107. ^ "Richest man outside U.S. enjoys life in tents". Honolulu (Hawaii) Advertiser. 21 May 2000. Archived from the original on 27 January 2018. Retrieved 27 January 2018.
  108. ^ "Egyptian tycoon, Saudi princess locked in legal battle". Gulf News. 4 January 2010. Archived from the original on 27 January 2018. Retrieved 27 January 2018.
  109. ^ "Saudi Gazette". Archived from the original on 27 December 2014.
  110. ^ Alfatlawi, Rosie (30 January 2018). Waleed-vegan-biggest-revelation-corruption-probe-1081900 "Saudi's Prince Al Waleed is Vegan: The Biggest Revelation of the Corruption Probe". Al Bawaba. Retrieved 10 February 2019. {{cite news}}: Check |url= value (help)
  111. ^ سعد الله الجابري Archived 4 April 2013 at the Wayback Machine مركز الشرق العربي

Further reading

edit
edit
 
Wikimedia Commons has media related to Al-Waleed bin Talal.
Retrieved from "https://en.wikipedia.org/w/index.php?title=Al_Waleed_bin_Talal_Al_Saud&oldid=1258025343"