| Net Worth | Salary | Birthdate | Birthplace | Gender | Height | Profession | Nationality |
|---|---|---|---|---|---|---|---|
| $22.6 billion | N/A | March 7, 1955 | Jeddah, Saudi Arabia | Male | N/A | Businessman, Investor, Philanthropist | Saudi Arabian |
Prince Alwaleed bin Talal Settles Forbes Libel Suit Over Under-Reported Net Worth
Saudi Prince Alwaleed bin Talal has recently settled a libel suit with Forbes magazine over the under-reporting of his net worth back in 2013. The dispute arose when Forbes listed bin Talal’s net worth as $20 billion, significantly lower than his claimed value of $30 billion. After reaching “mutual agreeable terms,” the settlement includes a correction to be published on Forbes’ website, stating bin Talal’s desired figure. This resolution has allowed the prince to avoid a lengthy and costly defamation trial.
Highlights
– Saudi Prince Alwaleed bin Talal has settled a libel suit with Forbes magazine over the under-reporting of his net worth in 2013.
– Forbes listed bin Talal’s net worth as $20 billion, while he claimed it to be closer to $30 billion.
– The settlement includes a correction on Forbes’ website, reflecting bin Talal’s desired net worth.
– The disagreement stemmed from Forbes’ failure to consider the full market value of bin Talal’s Kingdom Holding Company.
– Bin Talal launched a defamation lawsuit and spent significant funds on legal fees throughout the legal battle.
– A recent change in the stock market structure brought bin Talal’s and Forbes’ figures closer together, contributing to the settlement.
– With foreign investment now possible for Kingdom Holding Company, Forbes agreed to list bin Talal’s worth at $22.6 billion.
Early Life
Prince Alwaleed bin Talal was born on March 7, 1955, in Jeddah, Saudi Arabia. He hails from the wealthy Saudi royal family, with his father being Prince Talal bin Abdulaziz Al Saud and his mother, Mona Al Solh, the daughter of the first Prime Minister of Lebanon.
Career
Prince Alwaleed bin Talal is renowned as a highly successful businessman, investor, and philanthropist. He is the founder and CEO of the Kingdom Holding Company, a diversified investment holding company that operates across various industries worldwide.
Over the years, bin Talal has made strategic investments in numerous high-profile ventures, including Twitter, Disney, Citigroup, and the Savoy Hotel in London. His company, Kingdom Holding Company, holds stakes in a wide range of sectors, including real estate, technology, media, and financial services.
Personal Life
Prince Alwaleed bin Talal keeps much of his personal life private. However, he is known for his support of various philanthropic causes. He has made substantial donations to educational institutions, medical research, disaster relief efforts, and numerous other charitable initiatives.
Net Worth Over Time
Throughout his career, Prince Alwaleed bin Talal’s net worth has experienced fluctuations due to changes in global financial markets and the valuation of his diverse investment portfolio. While Forbes initially reported his net worth at $20 billion, bin Talal insisted it was closer to $30 billion.
The recent settlement with Forbes now acknowledges bin Talal’s desired figure, putting his net worth at $22.6 billion. This places him at the 34th spot on the list of the richest people in the world.
Components of Net Worth
Prince Alwaleed bin Talal’s net worth of $22.6 billion is primarily derived from his extensive investments through Kingdom Holding Company. The company holds valuable stakes in numerous international corporations, making it a crucial driver of bin Talal’s wealth. Additionally, his net worth is also influenced by factors such as real estate holdings, stock market investments, and other assets he may possess.
It is worth noting that while Forbes has now settled with bin Talal, the financial terms of their agreement remain undisclosed. The exact amount the prince received from the magazine as part of the settlement is unknown.
In conclusion, Prince Alwaleed bin Talal’s successful resolution of the libel suit against Forbes magazine ensures that his desired net worth of $22.6 billion is recognized. As one of the wealthiest individuals globally, bin Talal’s investments and philanthropic endeavors continue to shape his powerful presence in the financial world.