World / Politics
How did the arrested Saudi Arabian prince accumulate so much wealth?


Prince Al-Waleed bin Talal, who was often dubbed as "Arabian Warren Buffett" for his vast investment portfolio was arrested following a corruption purge in the Gulf state is the 45th wealthiest person the Planet. The Prince has an estimated net worth of $17bn (£13bn).


The grandson of Ibn Saud, the founder of Saudi Arabia, Prince, hasn't attained the wealth from the oil or inheritance. Instead, the Prince made his fortunes by investing in global brands at a time when their share prices were lowered, with significant stakes in firms such as Apple, Citigroup, ride-sharing firm Lyft and Disney.

 

 


Apart from these, the Prince is the founder, chief executive officer and 95pc owner of the Kingdom Holding Company, a Forbes Global 2000 company, and also co-owns the Four Seasons hotel chain along with Bill Gates. Prince Al-Waleed is the sole owner of London's landmark luxury hotel, the Savoy.


The Saudi Prince further holds a major stake in News Corporation and played a leading role in the shareholder vote to split the Murdoch controlled company in two in 2013. He sold his holding in the newspaper side News Corp by 2015, however, and later also sold down his stake in 21st Century Fox.