Investment in shares, Prince Waleed AlSaud
The Prince's activities as an investor came to prominence when he bought a substantial tranche of shares in Citicorp in the 1990s when that firm was in difficulties. With an initial investment of $550 million to bail out Citibank caused by underperforming American real estate loan and Latin American businesses, his holdings in Citigroup now comprises half of his wealth worth US$10 billion. He has also made large investments in AOL, Apple Inc., WorldCom, Motorola, News Corporation Ltd and other technology and media companies.
