Friday, November 21, 2008

Al- Walid

Al Walid

Prince Al-Walid bin Talal bin Abdul Aziz Al Saud is a member of the Saudi Royal Family.

Al-Walid (also known as Alwaleed) is a citizen of Lebanon, his mother's country.

Al-Walid owns the yacht Kingdom 5KR.

He has ordered a new yacht currently known as the New Kingdom 5KR which will be about 170m long.

He owns 300 cars.



Al-Walid and his children live in a $100 million palace whose 317 rooms are adorned with 1,500 tons of Italian marble, silk oriental carpets, gold-plated faucets and 250 TV sets.

Prince Al-Walid also owns a 317-room palace in Riyadh.[15][16]

Reportedly, Al-Walid makes his investments through the Kingdom Holding Company.

The Economist has suggested that Al Walid is a front man for other Saudi investors. [5]

Several chief executives of companies in which Al-Walid has a major stake (e.g. Disney, Donna Karan International) as well as some of his business partners (e.g. real estate developer Paul Reichmann), have been Jewish. (Prince Al-Walid bin Talal (September 2002))

5KR

In the 1990s Al-Walid bought shares in Citicorp.

His holdings in Citigroup reportedly comprise half of all his wealth[2]

Reportedly he came to own own 14.9% of Citicorp,[3] which in 1998 merged with travelers Group.

In 1995, Citibank reportedly assisted Raul Salinas, brother of the former president of Mexico, to move between $90 million and $100 million of suspected drug money out of Mexico.

(Cached /BBC News - Citibank criticised over money laundering)



Reportedly Al-Walid has made investments in such companies as AOL, Apple Inc., Worldcom, Motorola, News Corporation Ltd.

His real estate holdings have included a large stake in the Four Seasons hotel chain.

He has an investment in 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.[4]

In 2005 Al-Walid bought 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 bought Toronto, CA-based Four Seasons for an estimated $3.9 billion.

As of 2008, there are plans for the $10 billion construction of the Burj Al-Meel a skyscraper to one mile (1600m) in height.

Reportedly, Al-Walid is on the board of directors of the Carlyle Group. (Centre for Research on Globalisation (CRG))

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