Word: broker
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These days Khashoggi seems to have trouble affording his own fantasy life. Despite the Iranian deals, his days as a big-time arms broker are past. He has invested in ambitious development projects around the world, several of which have come undone. In Salt Lake City where Khashoggi launched a $1 billion real estate venture, his Triad America company is being sued by dozens of contractors and investors for $140 million. In the Sudan, his multibillion- dollar plan to turn the desert nation into a breadbasket failed when his friend President Jaafar Numeiry was deposed. Khashoggi is also suffering smaller...
...Arab-Islamic values of daring, cunning, loyalty and generosity. For him the deal is the thing, the only thing. Business, love, politics, diplomacy -- they are all forms of dealmaking. He proudly admits that he dissembles, uses women, flaunts his wealth to get an agreement. "When I am trying to broker a deal," he says animatedly, "in diplomacy or business, I don't tell the truth to both sides all the time. You should let both sides let off steam and feel vindicated. Then it's time to encourage both to be generous in victory. You can usually have a deal...
Khashoggi has no real consolidated corporate power base. He is a master broker but a precarious builder. Instead of constructing institutions, he has created a cult of personality. He is the product of the Middle East, where loyalty is to individuals, not institutions; he understands the psychology of one-on-one haggling, not the culture of corporations. "I am a trader," he says. "If I can make a decent profit, I prefer to take it and get out. There are others who hang on to an investment in the hope of realizing profits several times the money invested. They...
...business, he zigzags around the world on his jets the way others hop in a car to run an errand, because he must be there face-to-face. He believes that through the force of his personality, he can broker a billion-dollar merger or patch up a domestic tiff. Recently, in a conversation with a woman he had just met, she confided to him that she was in the final stages of divorce. "Stop!" he said excitedly. "Let me reconcile you! I am good...
...businessman and broker, Khashoggi has as a trademark the exquisite and exotic women who seem to hover around him. He has often been accused of hiring expensive call girls to seduce the men he is attempting to do business with. He amiably confesses to paying for escorts to liven up business functions. The women, he suggests, sweeten the deal. "They lend beauty and fragrance to the surroundings," he says, while sitting on the terrace of his Marbella house overlooking Gibraltar. "They are also intelligent hostesses. I challenge anyone to come forward and prove that I ever told him the girls...