Monday, Dec. 03, 2001
Prince al-Waleed
Global Investor
Prince al-Waleed bin Talal bin Ab Al-Saud parlayed a 1979 inheritance of $15,000 — and a house that he mortgaged for $400,000 — into a $20 billion empire. A Saudi royal and the world's sixth wealthiest individual, al-Waleed, 46, is a global investor whose moves are followed closely by CEOs and money managers. His interests range from his own construction, hotel and oil firms to the stocks of troubled brand-name firms, including Compaq, Disney and Kodak. The prince, who follows the markets by satellite from his yacht, scored his first big win in 1991: $790 million of depressed Citicorp stock that has grown to an $8 billion stake in what is now Citigroup. And he's looking for similar opportunities in today's market.