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AlWaleed Bin Talal - Essay Example
Finance & Accounting
Pages 4 (1004 words)
Prince AlWaleed Bin Talal as a Financier and formulate an understanding of the character’s personal, professional and financial initiatives over their careers. Name: Course: Professor: Institution: City and State: Date: Contents Prince AlWaleed Bin Talal as a Financier and formulate an understanding of the character’s personal, professional and financial initiatives over their careers…
His professional and financial initiatives AlWaleed’s prominence in investment surfaced in 1990s when he bought substantial shares in Citicorp, when the firm was experiencing financial crisis. Al Waleed’s bailed out Citibank with an initial investment of $550 million, an investment that has grown to about $1 billion currently. In 1997, AlWaleed was reported to have owned about 5% of News Corporation - stake that had grown to about 7% in 2010 ($3 billion) (Gustin 2). In February 1991, AlWaleed bought new preferred shares amounting to about $590 million. These investments increased his stake in Citigroup from 10% to 14.9%. Afterwards, he invested in a variety of companies including Apple Inc., AOL, MCI Inc., Fox News, Motorola and many other media and technology companies. Prior to 2007-2010 financial crises, his shares in Citibank at some point accounted for about half of his assets (Gustin 3). Al Waleed is the owner of Rotana Group, the Arab world's largest entertainment corporation. This company is also owned by News Group, which holds 18.97% of its stake. ...
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