Saudi Prince Alwaleed Bin Talal is one of the more well-known Saudis, mostly because of his presence and notoriety in the world of international business. Alwaleed, through his investment company Kingdom Holding Co., owns a large stake in Citigroup and other well known corporations, and also owns Rotana, a media company. His vast personal wealth allows him to be consistently considered among the world’s richest.
Alwaleed’s Kingdom holding had a great fourth quarter in 2010, according to a Reuters report. The company “posted a 50.8 percent rise in its fourth-quarter net profit to 234.6 million riyals” and “made a net profit of 605.2 million riyals in 2010, up 50.3 percent from the previous year.”
Those are very encouraging figures for Alwaleed, the nephew of King Abdullah. Perhaps the most well-known of his dealings this year was the purchase of $500 million of GM’s new stock offering, which totals a 1% ownership of the company, according to Dow Jones. The move increased the size and diversity of Alwaleed’s US holdings.
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