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Old 13-01-2012, 12:25 AM   #685
lightgiver
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Arrow Al-Waleed bin Talal & Saudi Binladen Group





Al-Waleed bin Talal was born to Talal ibn Abd al-Aziz ( the son of the founding King of Saudi Arabia, Abdul Aziz Al Saud ) and Princess Mona El-Solh, daughter of Riad as-Solh, Lebanon's first Prime Minister. He is Prince Talal's second son.

Al-Waleed received a Bachelors of Science degree in Business Administration with high honors from Menlo College in California in 1979. He then received a Master's of Social Science with honors from Syracuse University in 1985.

Al-Waleed began his business career in 1979 upon graduation from Menlo College in California. The Prince's activities as an investor came to prominence when he bought a substantial tranche of shares in Citicorp in the 1990s when that firm was in difficulties. With an initial investment of $550 million ($2.98 a share after adjusting for stock splits, acquisitions and spin-offs, according to Bloomberg calculations) to bail out Citibank caused by underperforming American real estate loans and Latin American businesses, his holdings in Citigroup now comprise for about $1 billion. His investments in Citibank earned him the title of "Arabian Warren Buffett".

Menlo College, often referred to as Menlo, is a private, four-year baccalaureate college specializing in business located in the Silicon Valley town of Atherton, California.

In October 2001, following the World Trade Center attacks, New York mayor Rudy Giuliani turned down a $10 million donation from Al-Waleed for disaster relief after the prince suggested the United States "must address some of the issues that led to such a criminal attack," and "re-examine its policies in the Middle East." Giuliani interpreted his statements as drawing "a moral equivalency between liberal democracies like the United States, like Israel, and terrorist states and those who condone terrorism."

His real estate holdings have included large stakes in the Four Seasons hotel chain and the Plaza Hotel in New York. He sold half of his shares in the latter in August 2004. He has made investments in London's Savoy Hotel and Monaco's Monte Carlo Grand Hotel. He currently holds a 10% stake in Euro Disney SCA, the company that owns, manages and maintains Disneyland Paris in Marne-la-Vallee, France.

In January 2005, Al-Waleed purchased the Savoy Hotel in London for an estimated GBP £250 million, to be managed by Fairmont Hotels; his sister, The Princess Sultana Nurul Al-Waleed owns an estimated 16% stake. In January 2006, in partnership with the U.S. real estate firm Colony Capital, Kingdom Holding acquired Toronto, CA-based Fairmont Hotels for an estimated $3.9 billion.

In August 2011, Al-Waleed announced that his company had contracted Saudi Binladen Group to build the next tallest building in the World, the Kingdom Tower at a height of at least 1,000 metres (3,300 ft) for SR 4.6 billion. The original plan announced in 2008 called it برج الميل (Arabic for "the Tower of One Mile") at 1,609 metres (5,279 ft) and an estimated cost of US$10 billion...


http://en.wikipedia.org/wiki/Al-Waleed_bin_Talal
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