Al Waleed bin Talal Al Saud

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Lore & Background

Al Waleed bin Talal Al Saud was born in Jeddah on 7 March 1955 to Prince Talal bin Abdulaziz and Mona El Solh. His paternal grandfather was King Abdulaziz, the first monarch of Saudi Arabia, and his maternal grandfather was Riad Al Solh, Lebanon’s first prime minister. His parents separated when he was seven, and he subsequently lived with his mother in Lebanon. He attended Pinewood College in Beirut and later the King Abdulaziz Military Academy in Riyadh. After returning to Lebanon, he studied at the Choueifat School and Manor School before earning a bachelor’s degree in business administration from Menlo College in California in 1979, completing the program in two and a half years. He later obtained a master’s degree with honors in social science from the Maxwell School at Syracuse University in 1985, finishing in eleven months. Al Waleed began his business career in 1979 with $30,000 from his father, forming Kingdom Establishment in 1980. He secured a $300,000 loan from the Saudi American Bank and insisted on equity stakes rather than commissions. His first major success came in 1982 through a partnership with a South Korean construction firm. He acquired the underperforming United Saudi Commercial Bank in 1986, merging it with Saudi Cairo Bank and later the Saudi American Bank to create a leading Middle Eastern financial institution. By 1989 his net worth reached $1.4 billion, with stakes in Canary Wharf, Four Seasons Hotel Group, and News Corporation. In 1991 he invested $590 million in Citicorp, becoming its largest shareholder. He is the founder, CEO, and 95 percent owner of Kingdom Holding Company, which had a market capitalization exceeding $18 billion in 2013. He owns Paris’ Four Seasons Hotel George V and part of New York’s Plaza Hotel. In November 2017, Forbes ranked him the seventh-richest person globally with a net worth of $39.8 billion. That same month, he was arrested in Saudi Arabia as part of a purge, held at the Ritz-Carlton in Riyadh, and released on 27 January 2018 after a financial settlement.

Reader's Guide

Prince Al Waleed bin Talal Al Saud is a Saudi Arabian billionaire businessman, investor, and member of the House of Saud. He is the founder, CEO, and 95% owner of the Kingdom Holding Company, a Saudi conglomerate valued at over $18 billion in 2013. His investment strategy focuses on acquiring stakes in established but underperforming brands, a method that earned him the nickname "Arabian Warren Buffett" from Time magazine. Notable holdings include Paris' Four Seasons Hotel George V and a share of New York's Plaza Hotel. His career began in 1979 after graduating from Menlo College, starting with $30,000 from his father and a $300,000 loan. He built his fortune through real estate and stock market investments, notably a $590 million investment in Citicorp in 1991, which helped stabilize the struggling bank. In November 2017, he was arrested in Saudi Arabia as part of a purge to centralize power, facing allegations of money laundering, bribery, and extorting officials. He was released in January 2018 after a financial settlement, but the lack of current information led to his removal from Forbes' billionaire list in March 2018. His career illustrates the interplay of high-stakes investing and political risk in a volatile environment.

Did You Know?

• Al Waleed is a grandson of both King Abdulaziz, the first king of Saudi Arabia, and Riad Al Solh, Lebanon's first prime minister.