Prince Alwaleed bin Talal

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Al Waleed bin Talal bin Abdulaziz Al Saud (born March 7, 1955), commonly known as Prince Alwaleed, is a Saudi Arabian billionaire businessman, investor, and member of the House of Saud, the royal family of Saudi Arabia. He is the founder, chief executive officer, and 78% owner of Kingdom Holding Company, a global conglomerate with investments in real estate, hotels, media, technology, and financial services. Often called the "Warren Buffett of Arabia," Prince Alwaleed is one of the wealthiest members of the Saudi royal family and one of the most prominent investors in the Middle East.

Prince Alwaleed is the grandson of Abdulaziz, the first king of Saudi Arabia, and Riad El Solh, Lebanon's first prime minister. He began his business career in the 1980s with a $30,000 loan from his father and built a global investment empire. His most famous investment came in 1990-1991, when he acquired approximately 15% of Citicorp for about $800 million, a stake he maintained through multiple financial crises. He has also been a significant investor in X (formerly Twitter), Four Seasons Hotels and Resorts, Apple Inc., and numerous other global companies.

In 2008, Time magazine listed Prince Alwaleed on its Time 100 as one of the hundred most influential people in the world. However, his profile has been complicated by controversy. In 2001, New York Mayor Rudy Giuliani rejected his $10 million donation for 9/11 relief after the prince suggested U.S. policies in the Middle East contributed to the attacks. In 2017, he was detained for 83 days at the Ritz-Carlton hotel in Riyadh as part of Crown Prince Mohammed bin Salman's anti-corruption purge, reportedly paying $6 billion for his release.

A major philanthropist, Prince Alwaleed has donated over $3 billion to charitable causes and in 2015 pledged to eventually give away his entire fortune to charity. His donations include $20 million each to Harvard University and Georgetown University to establish Islamic studies programs, and significant support for women's empowerment initiatives in Saudi Arabia.

Early life and family

Royal lineage

Al Waleed bin Talal bin Abdulaziz Al Saud was born on March 7, 1955, in Jeddah, Saudi Arabia. He is a member of the House of Saud, the royal family that has ruled Saudi Arabia since its founding in 1932.

His father, Talal bin Abdulaziz Al Saud, was one of the sons of Abdulaziz (also known as Ibn Saud), the founder and first king of Saudi Arabia. Talal was known as the "Red Prince" for his advocacy of political reform and constitutional monarchy in Saudi Arabia during the 1960s—positions that put him at odds with the ruling establishment and led to a period of exile in Egypt.

His mother, Mona El Solh, was the daughter of Riad El Solh, who served as the first Prime Minister of Lebanon after Lebanon gained independence from France in 1943. This Lebanese connection, through one of the most prominent families in Lebanese political history, gave Prince Alwaleed ties to both the Saudi royal family and the Lebanese elite.

Through his paternal grandfather Abdulaziz, Prince Alwaleed is related to numerous members of the Saudi royal family, including the current line of succession. His grandfather had over 30 sons who survived to adulthood, creating an extensive network of princes, half-uncles, and cousins.

Childhood and upbringing

Prince Alwaleed was raised in both Riyadh, the capital of Saudi Arabia, and Beirut, Lebanon, giving him exposure to both conservative Saudi society and the more cosmopolitan atmosphere of 1960s Lebanon. His parents' divorce during his childhood added complexity to his upbringing.

The contrast between these two environments—Saudi Arabia's strict Islamic traditions and Lebanon's more liberal, multicultural society—would later influence his public positions as a relative moderate within the Saudi royal family, particularly on issues such as women's rights.

Education

For his higher education, Prince Alwaleed traveled to the United States. He first attended Menlo College in Menlo Park, California, a small business-focused institution in the San Francisco Bay Area. He earned his Bachelor of Science degree in business administration from Menlo College in 1979.

Prince Alwaleed then pursued graduate studies at Syracuse University in Syracuse, New York, where he received his Master's degree in social science in 1985. His American education exposed him to Western business practices and financial markets—knowledge that would prove instrumental in building his investment empire.

Business career

Early investments

After returning to Saudi Arabia following his graduate studies, Prince Alwaleed began his business career with modest means by royal standards. According to his biography, "Alwaleed: Billionaire, Businessman, Prince," he started with a $30,000 loan from his father.

His early business activities focused on real estate development and serving as an intermediary for multinational companies seeking to enter the Saudi market. In the 1980s, Saudi Arabia's oil wealth was creating enormous demand for development, and Prince Alwaleed positioned himself to capitalize on this growth.

He made his first billion dollars through a combination of land sales and serving as a "point man" for multinational companies seeking local contracts and partners in Saudi Arabia. His royal connections provided access, while his Western education gave him credibility with international business leaders.

Founding Kingdom Holding Company

In 1980, Prince Alwaleed established Kingdom Holding Company (KHC), which would become the vehicle for his global investments. The company was structured as a holding company that could take significant stakes in a diverse range of businesses across multiple sectors and geographies.

As a dedicated value investor, Prince Alwaleed used Kingdom Holding as a platform to invest in companies he believed were undervalued by the market. His investment philosophy emphasized buying stakes in quality companies during periods of distress or when the market failed to recognize their true value—an approach similar to that of Warren Buffett, whose methodology Prince Alwaleed explicitly admired and sought to emulate.

Over the decades, Kingdom Holding built a globally diversified portfolio spanning:

Banking and financial services
Real estate and hotels
Technology and media
Retail and consumer goods
Healthcare

Citigroup investment

Prince Alwaleed's most famous and consequential investment came in 1990-1991, when he acquired approximately 15% of Citicorp (which later became Citigroup) for approximately $800 million.

The investment came at a moment of crisis for the bank. Citicorp was struggling with massive losses from bad real estate loans, particularly in commercial real estate, and its stock price had collapsed. Many observers questioned whether the bank could survive.

Prince Alwaleed saw opportunity where others saw disaster. He believed Citicorp's fundamental business was sound and that the market had overreacted to temporary problems. He began acquiring shares aggressively, eventually building one of the largest individual positions in the company.

The bet paid off spectacularly. As Citicorp recovered during the 1990s bull market, Prince Alwaleed's initial investment of approximately $800 million grew to nearly $2 billion in value. The Citigroup investment established Prince Alwaleed's reputation as a shrewd value investor and brought him international prominence.

Notably, Prince Alwaleed maintained his Citigroup position through the 2007-2008 financial crisis, when the bank again faced an existential threat and required a government bailout. He actually increased his position during the crisis, continuing to express confidence in the bank's long-term prospects.

Hotel investments

Prince Alwaleed assembled an impressive portfolio of luxury hotel investments, becoming one of the world's largest hotel investors:

Four Seasons Hotels and Resorts: Prince Alwaleed acquired a major stake in the luxury hotel chain, which operates properties worldwide. As of 2024, Kingdom Holding owned approximately 47% of Four Seasons.

The Savoy: The historic London hotel, one of the most famous in the world.

Hôtel George V: The prestigious Paris hotel on the Champs-Élysées.

Plaza Hotel: Prince Alwaleed was an investor in the iconic New York hotel.

Fairmont Hotels and Resorts: Stakes in the luxury hotel group.

These hotel investments reflected Prince Alwaleed's appreciation for premium brands and real assets with enduring value.

Technology investments

Prince Alwaleed made several notable technology investments:

Twitter/X Corp.: Prince Alwaleed was an early investor in Twitter, acquiring a stake through Kingdom Holding. When Elon Musk acquired Twitter in 2022, Prince Alwaleed rolled his equity stake into the new private company rather than taking cash. On October 28, 2022, Kingdom Holding became the second-largest owner of X Corp. In March 2025, when Musk's artificial intelligence venture xAI acquired X, Prince Alwaleed became the second-biggest shareholder in xAI.

Apple Inc.: Kingdom Holding has held investments in Apple, the world's most valuable technology company.

Lyft: Investment in the ride-sharing company.

JD.com: Investment in the Chinese e-commerce company.

Media investments

Prince Alwaleed built significant positions in media companies:

Rotana: Prince Alwaleed's Rotana is one of the largest entertainment companies in the Arab world, operating music and video content businesses.

News Corporation: Early investor in Rupert Murdoch's media empire.

Investments in various television networks including stakes associated with CNN and Fox News.

Sale to Public Investment Fund

In 2022, Prince Alwaleed sold 625 million shares of Kingdom Holding to Saudi Arabia's Public Investment Fund (PIF), the kingdom's sovereign wealth fund, for $1.5 billion. This reduced his stake in Kingdom Holding from approximately 95% to 78%.

The sale represented a significant shift, as Prince Alwaleed had long maintained near-total control of his investment vehicle. The transaction came after his 2017 detention and may have reflected changing dynamics within Saudi Arabia's power structure.

Controversies

September 11 donation rejection

One of the most publicized controversies involving Prince Alwaleed occurred in the immediate aftermath of the September 11 attacks in 2001.

Following the attacks, Prince Alwaleed visited New York City and presented Mayor Rudy Giuliani with a check for $10 million for disaster relief, along with a letter expressing condolences. Initially, Giuliani appeared ready to accept the donation.

However, Prince Alwaleed also released a statement suggesting that the United States should "re-examine its policies in the Middle East and adopt a more balanced stance toward the Palestinian cause." He implied that U.S. foreign policy had contributed to the conditions that led to the attacks.

Giuliani rejected the donation and expressed outrage at the prince's statement: "I entirely reject that statement. There is no moral equivalent for this [terrorist] act. There is no justification for it. The people who did it lost any right to ask for it when they slaughtered 4,000 or 5,000 innocent people. And to suggest that there's a justification for it only invites this happening in the future."

The rejection became international news and established Prince Alwaleed as a controversial figure in American public opinion.

Additionally, Zacarias Moussaoui, the so-called "20th hijacker" who was convicted of conspiracy related to the September 11 attacks, later implicated Prince Alwaleed by name, along with other Saudi government officials, claiming they had financed Al-Qaeda. Prince Alwaleed denied any connection to terrorist organizations.

Feud with Donald Trump

Prince Alwaleed had a complex relationship with Donald Trump that evolved from business association to public feud.

In the 1990s, Prince Alwaleed purchased Trump's yacht and reportedly acquired Trump's stake in the Plaza Hotel during one of Trump's business difficulties. He later claimed in interviews that he had "saved" Trump from bankruptcy twice during the 1990s.

However, the relationship turned hostile during Trump's 2016 presidential campaign. When Trump proposed a temporary ban on Muslim immigration to the United States, Prince Alwaleed tweeted: "You are a disgrace not only to the GOP but to all America. Withdraw from the U.S. presidential race as you will never win."

Trump responded on Twitter, calling Prince Alwaleed "Dopey Prince @Alwaleed_Talal" and accusing him of wanting "to control our U.S. politicians with daddy's money."

The public feud highlighted tensions between Trump's nationalist rhetoric and Saudi Arabia's traditional relationship with the United States.

2017 detention

On November 4, 2017, Prince Alwaleed was detained as part of a sweeping anti-corruption purge initiated by Crown Prince Mohammed bin Salman (often known as MBS). The purge targeted some of the most powerful and wealthy figures in Saudi Arabia.

Prince Alwaleed was among approximately 400 people rounded up in the operation. The detainees, who included 11 princes, four ministers, and numerous prominent businessmen, were held at the Ritz-Carlton hotel in Riyadh, which had been converted into a detention facility.

The Saudi government alleged that Prince Alwaleed was involved in money laundering, bribery, and extorting officials. However, no detailed charges were publicly filed, and the evidence against him was never made public.

Many analysts interpreted the purge as an effort by Mohammed bin Salman to consolidate power, neutralize potential rivals, and extract wealth from those he viewed as threats. The detention of Prince Alwaleed—one of Saudi Arabia's most internationally prominent businessmen—sent a clear message about MBS's authority.

Prince Alwaleed was held for 83 days before being released on January 27, 2018. According to The Wall Street Journal, the price for his freedom was approximately $6 billion, though the exact terms of his settlement were never publicly confirmed.

Reports later emerged alleging that some detainees were physically abused during the purge. The New York Times reported that 17 Ritz-Carlton detainees required hospitalization for physical abuse, including one man who later died in custody. Prince Alwaleed has not publicly discussed the conditions of his detention.

Following his release, Prince Alwaleed maintained a lower public profile than before, though he continued to manage his business interests and make public appearances.

Personal life

Marriages

Prince Alwaleed has been married three times:

Princess Dalal bint Saud (1976-1994): His first marriage was to his cousin, Princess Dalal bint Saud bin Abdulaziz Al Saud. This marriage produced his two children, Prince Khaled and Princess Reem. The couple divorced in 1994.

Princess Eman: Prince Alwaleed's second marriage was to Princess Eman, who belongs to the Sudairi tribe. They had no children together and divorced.

Ameera al-Taweel (2008-2013): His third marriage was to Ameera al-Taweel, a Saudi Arabian philanthropist. They met when she was 18 years old and interviewed him for a school paper. Despite a 28-year age difference, they married in 2008. Ameera served as vice chairwoman of the Alwaleed bin Talal Foundation during their marriage.

The marriage received significant media attention, with Princess Ameera becoming one of the most visible Saudi women in international media. However, tensions reportedly arose within the royal family over her high profile. According to reports, Prince Alwaleed's brother Prince Khalid warned him to control Ameera's media appearances. The couple divorced in 2013. Princess Ameera later married Khalifa bin Butti Al Muhairi in Paris in 2018.

Children

Prince Alwaleed has two children from his first marriage:

Prince Khaled bin Alwaleed bin Talal Al Saud: His son, who has been involved in business ventures and investment activities.

Princess Reem bint al-Waleed Al Saud: His daughter, born June 20, 1982, who is a businesswoman and philanthropist. She serves as chairwoman of Kingdom Schools and as a board member of Alwaleed Philanthropies. She married Prince Abdulaziz bin Musaed bin Abdulaziz Al Saud in 2007 and has three children.

Lifestyle

Prince Alwaleed was known for a lavish lifestyle consistent with his extraordinary wealth:

Real estate: He owns multiple palaces and properties in Saudi Arabia and internationally.

Yacht: He has owned several superyachts over the years.

Aircraft: Prince Alwaleed famously ordered a custom Airbus A380 private jet, though reports suggest the aircraft was never delivered due to disputes over customization.

Art collection: He has assembled a significant art collection.

Despite this opulence, Prince Alwaleed has also cultivated an image as a relatively moderate and accessible member of the Saudi royal family, particularly on women's issues.

Philanthropy

Alwaleed Philanthropies

Prince Alwaleed established Alwaleed Philanthropies (formerly the Alwaleed bin Talal Foundation) as the primary vehicle for his charitable activities. The organization operates in over 80 countries across multiple focus areas.

In July 2015, Prince Alwaleed made headlines by announcing that he would donate his entire $32 billion fortune to charity over his lifetime, following the example of Warren Buffett and Bill Gates's Giving Pledge. He stated that the donations would support humanitarian, educational, and cultural initiatives.

Since its founding, Alwaleed Philanthropies has donated more than $3 billion to charitable causes.

University donations

Prince Alwaleed has been a significant donor to universities, particularly in support of Islamic studies and cross-cultural understanding:

Harvard University: In 2005, he donated $20 million to create the Prince Alwaleed Bin Talal Islamic Studies Program at Harvard. The donation endowed four professorships and expanded the university's Islamic studies curriculum.

Georgetown University: Also in 2005, he donated $20 million to expand Georgetown's Center for Muslim-Christian Understanding, which was renamed the Prince Alwaleed bin Talal Center for Muslim-Christian Understanding. The center describes itself as the only program of its kind "to build stronger bridges between the Muslim world and the West."

Additional centers bearing Prince Alwaleed's name have been established at:

These donations have drawn some controversy, with critics arguing they promote a particular view of Islam or create conflicts of interest in academic research.

Women's empowerment

Within the context of Saudi Arabia's conservative society, Prince Alwaleed has been notably outspoken in support of women's rights:

Women driving: For years before the right was codified in Saudi law in 2018, Prince Alwaleed publicly advocated for allowing women to drive cars in Saudi Arabia.

Employment initiatives: In partnership with Careem (a ride-hailing service) and the Saudi government, Alwaleed Philanthropies launched programs to encourage Saudi women to work as drivers, providing cars and training.

Legal services: The foundation operates programs combating domestic violence against women, providing free legal services and raising awareness about women's rights in Saudi Arabia.

Political participation: Programs to support women running for Municipal Council elections in Saudi Arabia.

These initiatives, while modest by Western standards, represented significant advocacy within Saudi Arabia's restrictive context.

Other philanthropy

Additional philanthropic focus areas include:

Disaster relief
Healthcare initiatives
Fighting poverty
Climate change and environmental programs
Support for The Carter Center
Breakthrough Energy Coalition ($50 million investment with Bill Gates)

Recognition and legacy

Honors

Prince Alwaleed has received numerous recognitions:

Time 100 (2008): Listed as one of the hundred most influential people in the world
Recipient of the Dwight D. Eisenhower Award for Excellence
Honorary degrees from multiple universities
Various business and humanitarian awards

Business legacy

Prince Alwaleed's business legacy encompasses several dimensions:

Value investing: He demonstrated that the value investing approach pioneered by Warren Buffett could be successfully applied by non-American investors operating from outside traditional financial centers.

Crisis investing: His Citigroup investment exemplified the returns available to investors willing to commit capital during periods of crisis and panic.

Global portfolio: He built one of the most geographically and sectorally diverse investment portfolios in the world.

Brand awareness: He became perhaps the most internationally recognized Saudi businessman and investor.

Complicated legacy

Prince Alwaleed's legacy is complicated by several factors:

September 11 controversy: His rejected donation and statements about U.S. foreign policy created lasting negative impressions in some quarters.

2017 detention: The circumstances of his detention and reported $6 billion settlement raised questions about his independence and the nature of his relationship with the Saudi government.

Human rights concerns: Despite his relatively liberal positions on some issues, he remains a prominent member of a royal family that has been heavily criticized for human rights abuses.

References

External links

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