Time Magazine called him the Arabian Warren Buffet, but who exactly Is Prince Alwaleed. With all the comotion at Citi group, his name as been heard with all week as citi reported that Chuck prince has resigned and the company has closed to an 11 billion dollar write down. Well Prince Alwaleed is the Largest Share holder of Citi.
Prince Al-Walid bin Talal bin Abdul Aziz Al Saud, born in 1955 and his a member of the royal familiy of Saudi Arabia. Alwaleed is an International investor who was ranked the 13th richest person in the world with his net worth estimated at 20 billion dollars according to forbes magazine.
Alwaleed initially bailed citi out of debt with 550 billion dollar bailout which is caused by,caused by underpreforming American real estate loan and Latin American businesses,Alwaleed's investment in the company now stands at 10 billion dollars.
Alwaleed is said to be pushing for the return of old citi leader Sanford Weill to lead the company on an interim basis after the departure of Chuck prince according to CNBC. Weill stepped down as Citigroup chief executive in 2003 and as chairman in 2006.
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