Saudi Prince Alwaleed bin Talal plans to sell a stake in media company Rotana Holding to the public within two years as the billionaire prince expands his entertainment, music and news business in the Middle East.
The 40 richest individuals on Earth lost a combined $6.2 billion yesterday as stocks dropped amid disappointing U.S. earnings, according to the Bloomberg Billionaires Index, a daily ranking of the wealthiest people.
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.”
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.
Investment bankers for General Motors Co. have met with sovereign wealth funds and private investors in the Middle East and Asia to gauge interest in the automaker’s planned stock sale, said two people familiar with the meetings.
Kingdom Holding Co., the investment firm of Saudi Arabian billionaire Prince Alwaleed Bin Talal Al Saud, is in talks with banks to cut borrowing costs on a $550 million loan, four people with knowledge of the matter said.
The sale of Zain Saudi Arabia, a unit of Kuwait’s Mobile Telecommunications Co. known as Zain, will be completed two months after due diligence, Prince Alwaleed bin Talal, the Saudi billionaire that controls Kingdom Holding Co., said today in Kuwait.