4 things to know about Saudi Arabia’s Prince Al-Waleed bin Talal, the billionaire philanthropist who owns the Savoy in London
With a reputed net worth of more than US$18.7 billion, Al-Waleed bin Talal enjoys a lavish lifestyle, but he is believed to have given US$3.5 billion to social causes and his Alwaleed Philanthropies empowers women and youth across the Arab world
Prince Al-Waleed bin Talal is probably the most familiar Saudi Arabian mogul in the West. With a reputed net worth of more than US$18.7 billion, the founder and CEO of Kingdom Holding Company, is understood to be the richest man in Saudi Arabia. Al-Waleed, described by Time as the “Arabian Warren Buffett”, and listed by Forbes as the 45th richest man in the world in November 2017, enjoys an extravagant life.
However, he was among a group of prominent Saudis, including fellow billionaires Waleed bin Ibrahim Al Ibrahim and Saleh Abdullah Kamel, who were arrested on November 4, 2017 as part of what the government described as an anti-corruption drive. The allegations against Al-Waleed included money laundering, bribery and extorting officials. Al-Waleed was released from detention on January 27, 2018, following a financial settlement. He was dropped from the World's Billionaires list in March 2018 because of a lack of current information.
Here are four things you need to know about Prince Al-Waleed:
Al-Waleed bin Talal was educated in Lebanon, Riyadh and the United States
His early education started at Pinewood College in Beirut. He then attended a military school in Riyadh, Saudi Arabia before going to two more schools, the International School of Choueifat and Manor School, in Lebanon. After finishing school, he earned a bachelor’s degree in business administration from Menlo College in California. He later completed a master’s in social science at Syracuse University in New York.
He has a sophisticated lifestyle that one can’t ignore
Al-Waleed owns three palaces in Saudi Arabia. He spends most of his time in the magnificent Kingdom Palace in central Riyadh, which is estimated to be worth around US$130 million. All 317 rooms are embellished with Italian marble, oriental silks and gold-plated fixtures. To travel the world in style, he has his own Boeing 747-400. Most of the interior is coated in pure gold. He also owns an Airbus A 380 which is said to be even more luxurious and valued at more than US$500 million. He has more than 200 expensive cars such as a Rolls-Royce Phantom, Ferrari and Lamborghini. While travelling by sea, he turns heads with his New Kingdom 5KR yacht which is valued at US$500 million.
