The World's Billionaires
#13 Prince Alwaleed Bin Talal Alsaud
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Fortune: self made
Source: investments
Net Worth: $20.3 bil
Country Of Citizenship: Saudi Arabia
Residence: Riyadh , Saudi Arabia, Middle East & Africa
Industry: Investment
Marital Status: married, 2 children
Education: Menlo College, Bachelor of Arts / Science
Syracuse University, Master of Science
The most active and successful investor in the Middle East is a nephew of the Saudi king. His risky bet on Citigroup in the early 1990s paid off hugely and accounts for nearly half his fortune. A plan to list shares in his Kingdom Holding Company on the Saudi stock exchange late last year was delayed by weakness in the Saudi market, which has fallen 60% since it peaked in late February 2006. The drop in value of Alwaleed's Saudi holdings was offset by gains in investments such as Citigroup and News Corp. In February 2006 Alwaleed listed Kingdom Hotel Investments, which encompasses his hotel holdings in the Middle East, on the Dubai exchange. Alwaleed loves hotels. Last year he and a partner also closed a $3.9 billion deal to buy Fairmont Hotel & Resorts and more recently he announced that, with Bill Gates, he would take Four Seasons Hotels private for $3.8 billion, including debt.
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