The prince received a modern education in America. 1979 received an honorary bachelor's degree in business administration from Menlo College in California. 1985 obtained the master's degree in social sciences from Syracuse University. During his study, he worked tirelessly and assiduously, without giving the impression of a dude.
1979, Alwaleed returned to Saudi Arabia after graduation. He started to set foot in business with the support of his father's $65,438+￡ 5,000. Since then, he has started a series of business adventures.
After the two oil crises in 1970s, Saudi Arabia gained a lot of petrodollars in the international oil market, and its domestic business activities became increasingly active. Al-Walid used his connections and his little capital to start a trade agency and contracting business. In just a few years, his annual profit has reached tens of millions of dollars. Then, Alwaleed foresaw in time that the high welfare policy implemented by the government relying on petrodollars would greatly stimulate the domestic real estate market. He made a decisive move and bought a large piece of real estate in the capital Riyadh, laying the foundation for him to become the largest private property owner in the local area in the future.
With the success of Al Walid in the fields of construction and real estate, his wealth has increased rapidly. He established "Kingdom Holding Company" and extended his reach to other fields. 1986 became the largest shareholder of United Bank of Saudi Arabia, which suffered losses year after year. 1989 made United Bank the most profitable commercial bank in Saudi Arabia. In the 1990s, Al Walid began to set his sights on a broader international market, and successfully used wealth and royal blood to weave a network of leaders and businessmen from various countries.
During the period of 10, he invested heavily in the acquisition of shares of internationally renowned enterprises. His shareholding companies include Citibank, Coca Cola, Pepsi Cola, McDonald's, Disney, Motorola, AOL time warner Inc., Ford, Amazon, eBay, Kodak, Xerox and Four Seasons Hotel. Most of his investments are in the United States, and he is currently the largest foreign individual investor in the United States.
Unique investment vision
Betting at the lowest valley of Citibank resulted in fame and fortune, and the chairman of Citibank is still grateful to him.
In western business circles, Alwaleed is regarded as the "savior". As The Economist said: "If a company is in a crisis of insufficient funds, it is one of the few private investors in the world who can easily write hundreds of millions of dollars."
Alwaleed is really good at investing in famous companies that are in trouble, and then taking advantage of the rebound of the company's stock to make profits. Time magazine called him "Warren Buffett in the Arab world", while Forbes described him as one of the smartest investors in the world. Even Warren Buffett, the American stock god and the second richest man in the world, said in a letter to Al Walid: "In Omaha (headquarters of Buffett Holding Company), people call me Al Walid of the United States. I am deeply honored by this. "
As an international investor, Al Walid's most beautiful bet is on Citibank, the largest commercial bank in the United States. 1In the autumn of 990, Citibank was urged by the board of directors of the Federal Reserve to increase its capital reserve due to the loss of real estate loans, but it could not find more than one billion dollars of investment at the moment. Because people are worried about bankruptcy, Citi's stock has plummeted in the stock market for days. At this time, the little-known Al Walid bought 4.9% common stock of Citigroup at that time for $207 million ($65,438+02.46 per share), which is the upper limit of not disclosing its shares according to the law. In February of the following year, he bought new preferred shares of Citigroup for $590 million, which can be converted into common shares at the price of $65,438+06 per share, accounting for 65,438+00% of Citigroup's shares. These two stock purchases increased Al Walid's shares in Citigroup to 65,438+04.9%.
As Citi's capital crisis subsided, the bank's stock soared, and Alwaleed made a blockbuster and gained fame and fortune. John Reid, then chairman of Citigroup, has always been grateful to the prince and praised him as a "patient investor". Alwaleed himself said, "If I want to do something, I will do it earth-shattering, or I will not do it at all."
Since 1990, Alwaleed has spent billions of dollars to invest in the US stock market. Some people say that even when an experienced investor like Buffett is confused about the stock market, he dares to bet heavily. Of course, his investment doesn't always pay off immediately. A few years ago, when the internet bubble burst, he was repeatedly stuck in buying online stocks. Alwaleed admitted that he had suffered losses, but he rarely sold stocks and repeatedly stressed that he was a "long-term investor". He said: "I think there are still many opportunities for American companies. Just be careful."
The reason why he is obsessed with internet stocks is because Alwaleed has a soft spot for high technology. He has the reputation of "IT pioneer in the Arab world", and he hopes that Saudi Arabia will become the most advanced country in the Arab world, with more computers, mobile phones and Internet facilities than neighboring countries. It is said that when Motorola's StarTac mobile phone was first launched, he ordered 200 for himself and his family and friends at one time, and finally gave away 700 Motorola mobile phones.
fleshpots
His palace cost $65.438+300 million, with 365.438+07 rooms, 8 elevators and 654.38+080 servants.
Alwaleed is full of energy and sleeps only five hours a day, so that he can have more time to walk in the desert or work outside. He claims to be able to play 365,438+0 kinds of sports and is "good at all these sports". He is outspoken and thinks he is a bridge between the United States and Saudi Arabia. He is critical of American Middle East policy, but he also opposes domestic conservatism.
Among the thousands of Wang Zizhong in the Saudi royal family, Al Walid is undoubtedly the richest one. He set up a modern tent in the desert near Riyadh. He has all kinds of high-tech office facilities, such as mobile phones, fax machines, printers, computers and satellite communication equipment, which enables him to keep abreast of the securities markets and investment opportunities around the world. Five years ago, he built an extremely luxurious modern palace in Riyadh with $654.38+$300 million and high technology. This palace has 3 17 rooms. It is equipped with 520 televisions, 400 telephones, 8 elevators and several swimming pools. The top floor of the palace is the airstrip, and there are as many as 180 servants in the palace. In addition to tens of billions of dollars in stocks and several palaces, Al Walid also owns a Boeing 737, a Boeing 767 and a helicopter. His 288-foot luxury yacht "Kingdom" often stops at the French resort of Cotazur to spend his summer vacation.
Like many princes in Saudi Arabia, Al Walid is generous. When he and his ex-wife were shopping in France, they once bought an emerald diamond necklace worth120,000 US dollars. He defended the luxurious life of the Saudi royal family and said: "Wealth is a blessing. If wealth is used correctly, it is neither a waste nor an abuse. I think members of the royal family have the concept of financial management, and every item they buy is worth the money. " In August 2002, in order to celebrate the completion of another luxury hotel owned by Al Walid, he held a concert in a famous tourist resort in Egypt, and the number of people invited to attend was no more than 140. For this concert, Al Walid sent a special plane to pick up 76 famous singers from all over the world. After the meeting, his gift to these singers turned out to be a world-famous "BMW" car.
While enjoying luxury, Alwaleed never forgets to help others. He has provided financial support to humanitarian organizations in some countries, and when disasters occur in the Middle East, Africa, Eastern Europe and other parts of the world, he will also provide assistance from his own pocket. In Saudi Arabia, he spends hundreds of millions of dollars every year to help the poor, even those princes who are not rich. So in the local area, he is not only a successful businessman, but also a well-known philanthropist in the country.
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Respondent: Tony 99 17- Assistant II 1-3 1 15:03.