Prince Al-Waleed began his business career in 1979 upon graduation from Menlo College in California. Funded by a $30,000 loan from his father and a $400,000 mortgage on his house, the Prince initially brokered deals with foreign firms wishing to do business in Saudi Arabia. This was followed by land deals in the 1980s, along with major investments in the Saudi banking industry which was undervalued at the time.
The Prince’s activities as an investor came to prominence when he bought a large tranche of shares in Citicorp in the 1990s when that firm was in difficulties. He has also made large investments in AOL, Apple Computer, Worldcom, Motorola, News Corporation Ltd and other technology and media companies.
His real estate holdings have included large stakes in the Four Seasons hotel chain and the Plaza Hotel in New York; he sold half of his shares in the latter in August 2004 and invested it back in London’s Savoy Hotel and Monaco’s Monte Carlo Grand hotel. He holds a 10% stake worth $30 million in Euro Disney SCA, the organization which manages and maintains the Disneyland Resort Paris in Marne-la-Vallee, France.
In January 2005 he purchased the Savoy Hotel in London for an estimated GBP £250 million, and it will now be managed by Fairmont Hotels in which Prince Al-Waleed owns an estimated 16%. In January 2006 in partnership with the American real estate firm Colony Capital, Kingdom Holdings acquired Toronto, CA-based Fairmont Hotels for an estimated $3.9 billion.
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EDIT : Hotlink Police.... Bite me
