The article linked below from Bloomberg is about Alwaleed’s decision to sell off his jumbo jet, but the bigger story embedded here is his decision to refocus his fortune back home in Saudi Arabia and the Middle East, which almost certainly means Shariah-compliance…
Prince Alwaleed Bin Talal Al Saud, the world’s 15th-richest person, sold his Airbus A380 jet plane in the past four months…The 57-year-old, who bought the plane in 2007, used the proceeds from the sale to expand his investments in Saudi Arabia and the greater Middle East…
The chairman of Riyadh-based Kingdom Holding has a net worth of $29 billion…Alwaleed’s fortune has surged $8.5 billion since April 2012 as Kingdom shares have almost doubled in value.
Alwaleed has built much of his fortune investing in companies such as Apple Inc. and News Corp. In the past several years, the billionaire said he has been reallocating his portfolio in favor of the Middle East. He has more than $1.3 billion invested in public and private equities in the region…
