Nov 29, 2010
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Saudi Billionaire continues expansion into US markets

Saudi-Prince-Al-Waleed-bin-Talal

The Saudi Billionaire, who owns a stake in Citigroup, recently confirmed a 500 million dollar buyout of GM shares equaling a total amount of about one percent of the company. Kingdom Holding Co. confirmed that Prince Alwaleed bin Talal decided to obtain one percent of GM Motors after it finally came back to the world of public trading after it’s bankruptcy and bailout by Washington because quote, “the global strength of General Motors brand, the relatively attractive offering price, and the company’s growth prospect in both Brazil and China.”

Disney_logo2Citigroup_Logo_on_White_Bg_AP_2news

Prince Alwaleed personal portfolio is already impressive with major stakes in Citigroup, News Corp, and Disney. The addition of GM Motors just further strengthens the connection between Middle East oil giants and the United States.

“GM strongly came back to global competition, where the company was able to reduce its operating and fixed expenses, strengthen its financial position and returned to profitability.  We are confident that the current management of GM is able to deliver growth and profits over the coming years. We will be able to achieve the expected return on this investment,” said Kingdom Holding Co’s executive director of private equity, Ahmed Halawani.

As of right now GM’s IPO came out to about 15.8 billion dollars and its sharing are increasing daily which signals that this was indeed a strong, well played move by the Billionaire Prince.


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4 Comments

  • ???? 40000$

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  • I AM very happy to listen that there is one muslim in the world richest persons

    Like or Dislike: Thumb up 0 Thumb down 1

  • RE; OSMAN AIDIRUS ELMI IAM SOMALI

    SUB:REQUEST FOR ASSISTANCE

    dear sir /madam;

    I would like to inform you that I am the above name somali refugee who living refugee camps since 1992 up to now

    farthermore. I kindly inform you that i cannot have good life i dont have a job etc

    therefore. I kindly and politely request to your honorable company to assist me only 100,000 $ my account is BARCLAYS BANK 014-2072025 NAIROBI KENYA i wandt to buy two cars how to work my self i have seen those cars for mambasa both but they said to me the money is total are 100,000 help me sheikh iam muslim who needs you helpnig.

    any assistance give to me will be highly appreciated.

    yours sinceely.

    AIDIRUS ELMI OSMAN
    TELPHONE +254721868185
    NAIROBI KENYA

    Like or Dislike: Thumb up 1 Thumb down 1

  • Hi,
    I am a Spanish girl. I am not muslim, but i am running out of money after a year living in UK.
    Once you are in the bank for doing the transaction for the guy above, could you please send also about 150000 dollars to my account too?? I would really apreciate it!!

    Thank you very much for your help.

    Regards,

    Someone that would really apreciate your help

    Like or Dislike: Thumb up 0 Thumb down 0

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