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Saudi prince down $4bn

Dec 14 2008 16:02

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Dubai, United Arab Emirates - A Dubai-based magazine is reporting that the high-profile billionaire Saudi prince investor in Citigroup lost $4bn of his net worth over the past year.

Even with the losses, however, Prince Alwaleed bin Talal remains the world's richest Arab, according to a ranking released on Sunday by Arabian Business.

The magazine said Prince Alwaleed's holdings were worth $17.08bn as of December 2. Arabian Business says the figure is based on a direct review of the prince's holdings and a meeting with the man who's been dubbed "the Arabian Warren Buffett."

An official at Kingdom Holding, Prince Alwaleed's investment company, did not immediately comment on the report.

- AP

 
 
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