Word: talal
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Nobody would think the worse of him if Prince Alwaleed bin Talal bin Abdul Aziz al Saud joined the selling stampede. The tumbling value of Citicorp alone has cost him, as the banking company's largest shareholder, $640 million by the time the clock strikes noon on Wall Street. But to Alwaleed the only question is: At which precise moment should he strike? He and his advisers have spent six months studying 40 companies. Now prices are becoming more of a bargain by the second. So many stocks, so little time. Alwaleed sits elbows up at a cockpit-style desk...
...have accumulated their wealth mainly by diverting huge sums, directly or indirectly, from the government's extravagant oil revenues. As a Riyadh businessman puts it, Alwaleed's branch of the Saud family tree has always been considered a little smoother and a little straighter than the rest. His father Talal, a former Ambassador to France, was one of the "free princes" who demanded democratization and went into temporary exile during the troubled 1953-64 reign of King Saud. Alwaleed's mother, Princess Mona, is the daughter of Riad Solh, the first Prime Minister of independent Lebanon...
Alwaleed's parents divorced when he was barely school age. Growing up with his mother's family in swinging, pre-civil war Beirut made him into a wild and, at 189 lbs., seriously paunchy teenager. Talal yanked him back to Riyadh and reality and installed him at the King Abdul Aziz Military Academy. Alwaleed credits the experience for giving him his strong personal discipline. Later, business and social science degrees from Menlo College in California and Syracuse University gave Alwaleed the know-how to make his start...
RIYADH, Saudi Arabia: He's the Bedouin Buffett. The Donald of the Desert. The Soros of the Sands. He's Prince al-Waleed bin Talal, and he's known for betting big ? and winning big ? on solid but out-of-favor companies like Apple and TWA. Tuesday, however, the Prince's office announced some more traditional plays as part of the Prince's effort to push into media and technology...
...JOSE: Oracle chairman Larry Ellison has dropped plans to buy Apple. The billionaire businessman began forming an investment group a month ago to consider an exploratory bid for the company while trying to scare away other potential suitors such as Saudi Prince Al-Walid bin Talal, a nephew of King Fahd who had begun buying up Apple shares. Apple stock finished down 11/16 on the news to close at $17. Industry insiders said Ellison's success in turning Oracle into a $4 billion software powerhouse, whose chief customers were corporations, would not translate to reviving Apple, whose shrinking band...