Prince Alwaleed Bin Talal Alsaud No: 22 billionaire-2009
by saranya[ Edit ] 2010-03-08 15:49:34
Net Worth:$13.3 bil
Fortune:self made
Source:investments
Age:54
Country Of Citizenship:Saudi Arabia
Residence:Riyadh
Industry:Investments
Education:Menlo College, Bachelor of Arts / Science, Syracuse University, Master of Science
Marital Status:married, 2 children
Even the "Buffett of Arabia" has been battered by the global financial crisis. Shares of his Saudi-listed investment vehicle Kingdom Holding fell 60% in the last year as shares of Citigroup—once its largest holding—lost 86% of their value in 12 months. Alwaleed announced he was purchasing an additional 1% of Citigroup shares in November 2008, only to see the stock plunge further. Recently sold $1 billion worth of real estate and shares of various companies to meet Kingdom Holding's debt obligations. Nephew of the Saudi King still plans to build the world's tallest building in Jeddah, Saudi Arabia. Prince first came to prominence in the early 1990s after purchasing a stake in what was then Citicorp. Owns a jewelry collection he values at $730 million, plus several palaces and 4 airplanes, including an Airbus A380.
