1# Prince Alwaleed bin Talal Al Saud Net Worth: US$ 17.08 Billion Country of Residence: Saudi Arabia Industry: Banking & Finance Companies: Kingdom Holding Company Prince Alwaleed bin Talal Al Saud For over 20 years, almost every business publication on the planet has made some attempt to calculate the true wealth of HRH Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud. Most have always come to the same conclusion that he is the worlds richest Arab. And the figure put on his wealth has varied between $15bn and $30bn. In other words, nobody has been in any way sure of the correct figure. Apart from fairly precise calculations of his stock market holdings, putting a figure on his other assets has always proved close to impossible.Until now on December 2 this year, Arabian Business was given unprecedented access to the private financial accounts of his HRH Prince Alwaleed. Arabian Business editorial director Anil Bhoyrul met in Riyadh with HRH Prince Alwaleeds representatives and later the same day, Bhoyrul met in person with HRH at Kingdom Tower in Riyadh. He that evening joined HRH for dinner at Kingdom Resort on the outskirts of Riyadh.Over the course of several hours, Arabian Business was granted access to HRHs current investments and other assets (including cash). What we are today able to publish is the most accurate assessment ever made of HRHs personal wealth all of it confirmed by confidential documentation shown to Arabian Business. This includes actual statements given to banks quarterly as a declaration of the Princes private wealth.No doubt, our readers may be wondering how and why we were able to access this information. The how, we cannot say for reasons of confidentiality. The why?As HRH Prince Alwaleed tells us himself: Everyone has been guessing for 20 years. I want you to get it right to get it absolutely right.The wealth of HRH: SummaryThe net total wealth of HRH can be revealed as standing at, on December 2, 2008, $17.08bn. This is broken down into five areas: first, the publicly traded stocks, which all fall under Kingdom Holding Company. On December 2, this was valued at $7.98bn. Second, the major companies outside KHC (namely Rotana and LBC) which come to $1.6bn, and a smaller engineering concern valued at just $11m. Third is the Princes real estate, valued on December 2 at exactly $3.196bn.Fourth, other major assets valued at $1.679bn. A large chunk of this $822m is the value of his transportation assets (including planes and cars). The rest is made up by his jewellery collection, his investment in a French port and his stakes in Lebanese and Palestinian companies.The fifth part of his wealth is held entirely in cash at various banks.Breakdowns:Kingdom Holding Company: $7.98bnKHC was formed by Prince Alwaleed in 1980, and today is one of the worlds largest and most diversified private investment companies with holdings in a large number of Saudi Arabian, Middle Eastern and International companies.KHCs domestic and international portfolio includes investments in many sectors from iconic real estate landmarks, world-famous luxury hotels to banking, media and information technology, retail business and healthcare, entertainment and tourism. These include the stakes held in major companies such as Citigroup, Apple and News Corporation.One of the common mistakes often made in assessing HRHs wealth is that of double counting both losses and gains. Although the fall in the share price of Citigroup, in which HRH has a 5 percent stake, has been well documented, it is not added separately to his wealth as it falls under the KHC portfolio. In other words, the 95 percent shareholding that HRH personally has in KHC accounts for his holdings in all the stocks under the KHC banner.As of December 2, based on the share price of 5 riyals, Prince Alwaleeds stake in KHC was worth $7.98bn. It is worth noting that a change in the share price of KHC by just one riyal affects the personal wealth of HRH by $1.7bn.Companies outside KHC: $1.611bnNot every company that HRH has a stake in comes under the KHC portfolio. The two biggest outside this are his media interests, in LBC and Rotana. Arabian Business has been shown an independent valuation of these two companies made earlier this year by Lehmann Brothers and Citigroup, which puts Prince Alwaleeds personal stake in these companies at $1.6bn. Rotana is the dominant media company in the Middle East with the biggest library in the Arab world it has more than 85 percent of all the music industry and 45 percent of movies in the Arab world under its banner.Arabian Business has also been shown HRHs 66 percent holding in a small engineering consultancy that was formed in 1990. He is not officially registered as the owner because he is not a qualified engineer; however he has the majority stake in the company valued at $11m.There are other companies that HRH has stakes in which are not within Kingdom Holding.Private Real Estate: $3.196bnThe real estate owned by HRH Prince Alwaleed personally is valued at exactly $3.196bn and consists of the following:Kingdom OasisMost VIPs visiting the prince are hosted at his fabulous Kingdom Resort. However, this is nothing compared with Kingdom Oasis, currently under construction. This 4 million sq m luxury resort will not be ready until late 2009. It will include a 70,000 sq m lake and a private zoo.Adjoining landAlways on the lookout for a good investment, HRH snapped up 50 million sq m of land next to the planned Kingdom Oasis. Right next to it, UAE developer Emaar has begun a major new project, resulting in the value of surrounding lands rising to $26.66 per square metre (according to Emaars own figures). This would give a $1.3bn valuation for the adjoining land alone.Kingdom ResortCurrently 500,000 sq m in size and next to the diplomatic quarters of Riyadh, it is here that most of the Princes guests are entertained. It contains a private zoo and lake.HRHs Charity Foundation HeadquartersThe Princes former offices are now the base for The Alwaleed Bin Talal Foundation that manages HRHs charity and philanthropy nationally, regionally, and on a global scale.Private Palaces and Various LandsThese consist of palaces, adjoining lands and lands in different locations. CashThe Prince keeps a significant amount of cash at all times, which is instantly accessible. We cannot disclose the exact amount as it is confidential, but have seen the verified total figure.
