Wahala dey! See levels! A Saudi Arabian Prince Alwaleed bin Talal, has launched a libel action against the business magazine Forbes magazine over claims it underestimated his fortune by $9.6bn!
The Prince who is one of the world’s wealthiest businessmen that owns assets including London’s Savoy hotel, has vowed to sever ties with Forbes in March for placing him as the 26th most wealthy billionaire on the planet on the coveted annual Rich List, with a valued fortune of $20bn – The prince insisted he was worth closer to $30bn and accused the respected US magazine of being “demonstrably biased” against Saudi Arabian firms and he claims the Rich List caused serious harm to his reputation and to his company Kingdom Holdings’ finances!
Through his Saudi-based investment vehicle, Kingdom Holding, Alwaleed owns large stakes in Apple, Twitter and Rupert Murdoch’s News Corporation and has built a formidable property portfolio, including the Savoy Hotel in London and the Plaza in New York, the Four Seasons hotel chain and a stake in the owners of London’s Canary Wharf complex. Forbes are however sticking to their publication and have stated they are ready to see the billionaire in court whenever that time arises! Hmmm…. #BigMan’Tins! Lol!