Prince Alwaleed Bin Talal He

Prince Alwaleed Bin Talal

He was born in Saudi Arabia in 1957. His paternal grandfather, Abdul-Aziz bin Saud, united the Arabian peninsula and formed the kingdom of Saudi Arabia, while his maternal grandfather, Riad al-Solh, was the first prime minister of the Republic of Lebanon. His father, Prince Talal, was the brother of the king of Saudi Arabia. Despite his influential and wealthy family tree, Bin Talal is proud of the fact that he earned his fortune through his own hard work. He became a "self-made" billionaire at the age of 31, and is listed annually as one of the richest men in the world. (Answers.com 2008)

Global Business Leader

Alwaleed got his start in Saudi real estate and earning commissions from foreign contractors during Saudi Arabia's building boom in the 1980s. He then got into the banking business by buying and merging together Saudi banks.

Though Prince Alwaleed bin Talal came to public attention in the U.S. when Rudy Giuliani rejected his $10 million donation to the Twin Towers fund, Alwaleed's real significance is as a global financial powerbroker. Alwaleed, as he's known to most in the Middle East, is the largest single foreign investor in the U.S. economy, with interests in almost everything that touches the American lifestyle. (Khan, Alwaleed: Businessman Billionaire Prince 2005)

Like investment guru Warren Buffett, Alwaleed became hugely successful through consecutive strategic high-profile investments, earning him the respect of Wall Street. His significant holdings in U.S. companies include Citigroup (which he bailed out with $590 million in the early '90s), Apple and News Corp., the corporate entity responsible for this "authorized biography." (Khan, Alwaleed: Businessman Billionaire Prince 2005)

His prominent family ties in Saudi Arabia as well as in Lebanon lead him, a Muslim who identifies with Western ways and champions reform, to serve as a bridge between the Middle East and the West.

Alwaleed is not part of the ruling executive within the House of Saud and has generally kept out of politics. However, he has recently started to make overt political statements in his press releases and interviews. His views can be seen as critical of Saudi traditionalism, proposing reforms to elections, women's rights and the economy. He has also openly criticized operation of the state-owned oil company, Saudi Armco. Hanadi Hindi. (Khan, Alwaleed: Businessman Billionaire Prince 2005)

Princely Personality?

He is driven, precise, highly ambitious, demanding, fast-paced and extremely detailed-oriented man with a photographic memory. He will stop at nothing to reach his goals, yet he fights for women's rights. He rose from royal Prince starting with $30,000 to a net worth of over $24 billion dollars in less than 25 years. He is respected by CEOs and heads of state from around the globe.

He is extremely punctual and has such a demanding travel schedule that his entourage can't keep up. He gets by with very little sleep (4 to 6 hours). Where ever he goes, he must have access to a telephone and a television. His phone bill is close to $100,000 a month. He is in the process of building the largest personal yacht in the world, and he has a private 747 jumbo jet. But he also (Khan, Alwaleed: Businessman Billionaire Prince 2005)

Philanthropist

Prince Alwaleed is heavily involved in charitable activities across the Middle East,

Asia and Africa, and is estimated to donate more than $100 million annually to charity.

In America his charity includes a donation of $10 million to New York City towards relief efforts after the September 11, 2001 attacks. Alwaleed also donated $500,000 to the George Herbert Walker Bush Scholarship Fund in 2002. In December 2005, he donated $20 million each to Harvard University and Georgetown University to finance new initiatives aimed at enhancing the study of Islam in the Western academy and to foster understanding between Muslims and Christians. (Mujtaba 2008)

The Weill Medical College of Cornell University also received a donation $10 million in 2006 to establish the Institute for Computational efforts in wake of the 2005 earthquake in Pakistan. He also gave $2 million dollars for the development of the remote regions of Pakistan that include Kahuta, Jhelum valley, and the mountainside region of the Swat River valley. Alwaleed financed the building of the headquarters of the Fondation Pour l'Enfance, an organization dedicated to improving the living conditions of Malian and African children in Mali. (Mujtaba 2008)

Princely Lifestyle

The billionaire prince has a colorful life style true to his name and status. He owns a Boeing 747 jet that is converted for his private use. He has also ordered the world's largest passenger aircraft Airbus A380, for private use. The aircraft will be delivered to him in 2010. He owns the yacht Kingdom 5KR, which was seen in a James Bond movie.

He has a close and emotional relationship with the desert and its people. His identity sits on the fence separating the Arab world on one side, with tents, camels, and rifle-toting Bedouins... And the fast-paced, hungry, pinstripe world of Wall Street, with limousines and designer labels. (Mujtaba 2008)

Alwaleed and his children live in a $100 million sand-colored palace whose 317 rooms are adorned with 1,500 tons of Italian marble, silk oriental carpets, gold-plated faucets and 250 TV sets. It will have four kitchens, for Lebanese, Arabic, Continental and Asian cuisines, and a fifth just for dishing up desserts, run by chefs who can feed 2,000 people on an hour's notice. Their royal highnesses can swim in a lagoon-shaped pool, or catch a film in the 45-seat basement cinema. (Khan, Alwaleed: Businessman Billionaire Prince 2005)