Prince Alwaleed is richest Arab
Riyadh, December 21, 2009
Prince Alwaleed bin Talal bin Abdulaziz Alsaud, chairman of Kingdom Holding Company (KHC), has topped Arabian Business Magazine’s 2009 50 Richest Arab List for six consecutive years.
The magazine stated, “Fast forward twelve months and Prince Prince Alwaleed appears to be a law unto himself, raking in the cash and boosting his bank balance by almost $1 billion. Yet almost all those around him are on the slide.”
The magazine also said that “We may be in the middle of the worst recession in living memory, but our calculations suggest that he will top our rich list for several more years to come.”
KHC was listed on Tadawul in 2007 and has been involved in the creation of a diversified long term investments portfolio of strategic stakes in well-known companies locally and around the world, in multiple sectors.
The Prince was ranked one of the top 25 billionaires in the 2009 Forbes Billionaires list. In 2008, he was ranked the largest private investor on the Saudi stock exchange, and Arabian Business ranked him number one in their list of 100 Most Powerful Arabs for the fourth year running.-TradeArabia News Service