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Here's How Prince Alwaleed Spends His '$29.6 Billion' Fortune

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Prince Alwaleed

It's a classic he-said-she-said — except she is Forbes' Senior Editor Kerry Dolan and he is Prince Alwaleed bin Talal, considered to be the richest man in Saudi Arabia and one of the richest people in the world.

They're fighting over how much the Saudi Arabian prince is worth.

Alwaleed believes the number is a $29.6 billion, while Forbes disagreed and placed him at number 26 on its annual billionaires list with a net worth estimate of $20 billion.

Regardless, Alwaleed is still rich beyond belief from his stake in his Kingdom Holding Company, his Saudi real estate investments, shares in Arab media companies, and investments in public and private companies globally, including Twitter.

Prince Alwaleed was born into Saudi royalty.

He is the son of Prince Talal and Mona Al Solh.

His maternal grandfather was the first prime minister of Lebanon and his paternal grandfather, King Abdulaziz, created Saudi Arabia.



He attended a California school for college.

It was while attending Menlo College in Atherton, California that he acquired what many believe to be a Western world outlook, making him the go-to Saudi investor for American businessmen.



He got his big break when he invested in a little company called Citicorp.

He received a $30,000 gift, a $300,000 loan, and a house from his father after graduating, and slowly began investing.

In 1991, when Alwaleed was 36, he made a high-stakes decision to invest in Citicorp, which made him $800 million. By 2005, that had turned into $10 billion.



See the rest of the story at Business Insider

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