He may be only the world’s 13th-richest man, but Prince Walid bin Talal of Saudi Arabia will soon be able to claim the bragging rights to the world’s largest private jet.
Putting an end to months of speculation, Airbus announced Monday that the Saudi billionaire had become the first V.I.P. customer for the A380 superjumbo jet, the winged colossus that the European plane maker prices at just over $300 million.
Prince Walid, who currently makes do with a customized Boeing 747-400, signed the contract for a new flying palace at a ceremony with senior Airbus executives at the Dubai air show.
He expects to take delivery in 2010.
Showing posts with label Prince Alwaleed. Show all posts
Showing posts with label Prince Alwaleed. Show all posts
Wednesday, November 14, 2007
Sunday, November 11, 2007
Prince Alwaleed: Why Chuck had to go
In the midst of staggering losses and intense public scrutiny, former Citigroup CEO Charles O. Prince III could always count on the support of the company's biggest individual shareholder: Prince Alwaleed bin Talal bin Abdul Aziz al Saud. Less than a month ago, the Saudi prince, who owns 3.6% of the company, even dismissed a sharp drop in earnings as a "mere hiccup."
But Fortune has learned that Prince Alwaleed and other major shareholders agreed last week that, if Chuck Prince didn't offer his resignation after the news of the additional $8 billion to $11 billion writedowns, they would publicly call for his ouster. In an exclusive interview, Prince Alwaleed, speaking by phone from the desert outside Riyadh, talked with Fortune's Andy Serwer and Barney Gimbel about the final days of Chuck Prince's tenure at Citigroup.
But Fortune has learned that Prince Alwaleed and other major shareholders agreed last week that, if Chuck Prince didn't offer his resignation after the news of the additional $8 billion to $11 billion writedowns, they would publicly call for his ouster. In an exclusive interview, Prince Alwaleed, speaking by phone from the desert outside Riyadh, talked with Fortune's Andy Serwer and Barney Gimbel about the final days of Chuck Prince's tenure at Citigroup.
Monday, July 30, 2007
Invest Like Prince Alwaleed
Prince Alwaleed bin Talal, the billionaire investor often referred to as the “Warren Buffett of the Middle East,” has announced that he will soon bring his investment company, Kingdom Holdings, public on the Saudi Arabian exchange.
Prince Alwaleed is primarily a distressed value investor who made at least half his $24 billion net worth in three investments back in the nineties: Citigroup, AOL, and Apple. It’s hard to think of these at distressed value positions but each of these stocks was considered on the brink of death right when the Prince began loading up. It’s worth seeing what positions he’s in now to see where he still finds value.
Full Article
Prince Alwaleed is primarily a distressed value investor who made at least half his $24 billion net worth in three investments back in the nineties: Citigroup, AOL, and Apple. It’s hard to think of these at distressed value positions but each of these stocks was considered on the brink of death right when the Prince began loading up. It’s worth seeing what positions he’s in now to see where he still finds value.
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