A total of 11 princes including Alwaleed bin Talal and four serving ministers were arrested by the Saudi Anti-Corruption Committee. The arrests were made in connection with alleged involvement in corruption cases.
Alwaleed is the son of Prince Talal bin Saud, the direct grandson of the late King Abdulaziz bin Saud who established the Kingdom of Saudi Arabia. So Alwaleed is the nephew of King Salman who is currently in power.
His father Alwaleed, Prince Talal, was a controversial member of the royal family and was exiled when there was reform in the Saudi Arabian family.
Alwaleed was educated at Menlo College, California, United States (US) before establishing Kingdom Holding Company (KHC). The man who was married-divorced three times this became a business graduate in 1979, then returned home and pioneered his own business.
The first business he did was in the property sector, through the sale of land. Gradually he began to spread his wings while diversifying his business to other sectors.
His expertise in investing made Alwaleed earned the nickname Warren Buffet from the Middle East. Because, in the midst of a boom in oil prices in the 1970s to the 1980s, Alwaleed opted to do business in other sectors and was keen to see investment opportunities.
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The ex-husband of Ameera Al-Taweel also succeeded in reforming the Saudi Commercial Bank which will go bankrupt as the number one bank in the Middle East after being merged with Saudi Cairo Bank and SAMBA.
Alwaleed is also most keen to buy stocks of famous companies, such as Twitter to Apple. Quoted from the official site of Kingdom Holding, Tuesday (28/2/2017), the following investment portfolio:
Sector of Financial Services and Investment
– Jeddah Economic Company Ltd
– Kingdom Riyadh Land
– Kingdom Center
– Real Estate Investment Company (REIC)
– Canary Wharf (Songbird Estates PLC)
– Ballast Nedam
– Kingdom Schools Company
– Kingdom Hotel Investments, owner of The Four Seasons, Fairmont, Raffles, Swissôtel, and Mövenpick.
– Kingdom Hospital
– Riyadh Consulting Clinics
– National Private Air Transport Services Company LLC (NAS Saudi Arabia)
– National Industrialization Company (TASNEE)
Media and Publications
– News Corporation
– Euro Disney S.C.A
Fund and Investment Manager
– Kingdom Africa Management (KAM)
– Kingdom Agricultural Development Company (KADCO)
Consumer and Retail
– Saks Incorporated
– Fashion Village Trading Company
– Savola Group
Social Media and Technology