A five-month rally by Kingdom Holding Co. is giving lift to the investment record of Prince Alwaleed bin Talal Al Saud, the world’s 18th-richest person and self-proclaimed “Warren Buffett of Saudi Arabia.”
Forbes Media LLC is drawing interest from acquirers including China’s Fosun International Ltd. and Singapore’s Spice Global Investments Pvt, with final offers for the magazine publisher due today, people with knowledge of the matter said.
JD.com, the online retailer backed by Saudi billionaire Prince Alwaleed bin Talal, filed to raise $1.5 billion in the first Chinese initial public offering in the U.S. since a judge suspended accounting firms.
Beijing Jingdong Trading Co., the Chinese online retailer backed by Saudi Prince Alwaleed bin Talal, plans to raise about $2 billion in an initial public offering in the second half, three people with knowledge of the matter said.
Shadi Sadeek Sanbar, chief financial officer at Saudi billionaire Prince Alwaleed bin Talal’s Kingdom Holding Co., is planning to leave the company this month, according to four people with knowledge of the matter.
After losing billions on U.S. stocks beginning in 2000, Alwaleed Bin Talal says he may become richer than the Oracle of Omaha. His strategy: holding an IPO for his luxury hotels and building the world’s tallest tower in his homeland.
Prince Alwaleed Bin Talal sits under an almost full moon near a campfire at his rustic retreat in Riyadh, Saudi Arabia. He’s surrounded by a zoo with zebras and giraffes, an artificial lake and a lodge that has an indoor pool, saunas and steam rooms. Three hooded falcons are perched on stands in front of him.