Saturday, November 6, 2010

Prince Alwaleed


His love for deserts maybe come from his childhood memories with the whole family.
He almost comes to his unique open office in the desert for every weekend.
Now I am reading the Biography about him_by Riz Khan (2005)
<Alwaleed: businessman, billionaire, prince>

The book in Arabic was given to each Saudi who requests and receives financial aid from the Prince.

Prince Alwaleed (Wikipedia)

http://www.forbes.com/2009/03/27/inside-prince-alwaleed-saudi-palace-business-billionaires-alwaleed.html
A bit arrogant and showing off

http://www.forbes.com/forbes/2009/0330/092-cannot-wait-to-be-king.html


British Economist Magazine review:
The Fed is the only regulatory body ever to have publicly investigated Prince Alwaleed. It will not comment on why it did not approve his application. However, the prince looks to have been a forced seller. He himself acknowledges that he “had to play by the rules in America”. When he sold, he disposed of the absolute minimum number of shares required by law.

... (review the details of the Prince's  investments and possible sources of income listed by the Economist)

The inescapable conclusion is that estimates the prince has given to The Economist and several other publications are wrong. Either the prince has a valuable and unrevealed source of income, or his income is much less than $500m.

East meets West:
Most of his investments are held through a maze of companies registered in tax havens where total secrecy is assured. In the Cayman Islands more than 120 firms are registered under the name used by Prince Alwaleed, Kingdom 5-KR. Whatever its intention, the effect of this complex financial structure is to disguise the trail of the prince’s money outside Saudi Arabia.

New York magazine_Feb 1993_P26

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