Alwaleed: Businessman, Billionaire, Prince [Hardcover]

Riz Khan (Author)

Book Description

Publication Date: October 18, 2005

There are few individuals as unique, enigmatic, and colorful as Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud.

This biography of the world's fifth-richest man -- worth around $24 billion -- tells the story of a businessman who started out with a relatively modest bank loan and built an empire that embraces the best-known brands, from Citigroup and Disney to Apple Computers and the Four Seasons Hotels. Alwaleed, as he's known to most in the Middle East, is the largest single foreign investor in the U.S. economy, with interests in almost everything that touches the American lifestyle. Like investment guru Warren Buffett, Alwaleed became hugely successful through consecutive strategic high-profile investments, earning him the respect of Wall Street.

In this fascinating and uniquely insightful authorized biography, international journalist and broadcaster Riz Khan offers a revealing insider's view of this provocative business genius, focusing on issues including:

• his unique family history
• the origins of his powerful drive to succeed
• his phenomenal success in rescuing beleaguered companies such as America's giant Citigroup
• his investments in top brands including Four Seasons Hotels, Saks Fifth Avenue, and NewsCorp
• his unique approach to investing -- and some of his most lucrative strategies

Beyond the billionaire, jet-set lifestyle, Prince Alwaleed has a close and emotional relationship with the desert and its people. His identity sits on the fence separating the Arab world on one side, with tents, camels, and rifle-toting Bedouins ... and the fast-paced, hungry, pinstripe world of Wall Street, with limousines and designer labels.

Brilliant, charming, and extraordinarily hardworking, this billionaire's personal story unfolds in gripping detail, based on in-depth interviews with the Prince's family, entourage, and closest business associates -- including top names such as Sandy Weill, Rupert Murdoch, and Jimmy Carter.

Alwaleed is a revealing portrait of an unusual individual whose presence in the global economy is unmatched; a twenty-first-century ambassador who could be the ultimate bridge to connect the Middle East and the West.

Editorial Reviews

From Publishers Weekly

Though Prince Alwaleed bin Talal came to public attention in the U.S. when Rudy Giuliani rejected his $10 million donation to the Twin Towers fund, Alwaleed's real significance is as a global financial powerbroker. The Saudi royal is the biggest single foreign investor in the U.S. economy and the world's fourth-richest man, with assets totaling more than $21 billion. His significant holdings in U.S. companies include Citigroup (which he bailed out with $590 million in the early '90s), Apple and News Corp., the corporate entity responsible for this "authorized biography." Khan, who has interviewed high-profile figures for CNN International, tags along with Alwaleed and his entourage as they conduct business in Riyadh and Paris, holiday in Cannes and trek into the Saudi desert for a weekend getaway. The resulting reportage has the breezy flavor of a magazine profile awkwardly stretched to book length. There's plenty of praise for Alwaleed's "financial intelligence" and outsized personality, but Khan doesn't probe beyond the admirable surface (though he notes others have tried to dig up dirt with little success). The glowing descriptions seem carefully crafted—and timed—to raise Alwaleed's profile in the West. (Oct.)
Copyright © Reed Business Information, a division of Reed Elsevier Inc. All rights reserved.

From Booklist

Khan, independent broadcaster and journalist, offers a unique window into the life and times of His Royal Highness Prince Alwaleed Bin Talal Bin Abdulaziz Al Saud (known as Alwaleed), who is described by the Wall Street Journal as the "Arab Warren Buffet." Age 50 and U.S.-educated, Alwaleed is currently the fifth wealthiest man in the world. His prominent family ties in Saudi Arabia as well as in Lebanon lead him, a Muslim who identifies with Western ways and champions reform, to serve as a bridge between the Middle East and the West. The most successful investor outside the U.S., he owns vast investment portfolios that include such brand names as Citibank, EuroDisney, and Apple. This is a fascinating tale of a financial giant who gave the author unprecedented access to himself and those who surround him, resulting in a treasure trove of information. However, like all biographies written with the support of the subject, many could question its objectivity. Mary Whaley
Copyright © American Library Association. All rights reserved

See all Editorial Reviews

Product Details

• Hardcover: 432 pages
• Publisher: William Morrow; Har/DVD edition (October 18, 2005)
• Language: English
• ISBN-10: 0060850302
• ISBN-13: 978-0060850302
• Product Dimensions: 9 x 5.7 x 1.5 inches
• Shipping Weight: 1.7 pounds (View shipping rates and policies)
• Average Customer Review: 3.4 out of 5 stars  See all reviews (13 customer reviews)
• Amazon Best Sellers Rank: #334,932 in Books (See Top 100 in Books)
  • #62 in Books > History > Middle East > Saudi Arabia

Customer Reviews

Most Helpful Customer Reviews

16 of 18 people found the following review helpful:

1.0 out of 5 stars Dull, Fake and Lousy, August 4, 2006

By 

T. Abdalla - See all my reviews
(REAL NAME)   

This review is from: Alwaleed: Businessman, Billionaire, Prince (Hardcover)

I bought this book because I wanted to gain some more insight into one of the world's richest men, his investments, his strategies and his life. As written by Riz Khan I expected to receive a balanced view of his story.

However, I was gravely disappointed. First it is the worst written book I have ever read in my life. Apart from Khan's writing style which resembles that of a 16-year old submitting an essay he wrote the night before the deadline and apart from being dull, weak in vocabulary and downright boring, it is also full of grammatical mistakes.

The story itself is incredibly one-sided with absolutely no opposing perspectives to those of Waleed. It presents an unacceptably incorrect view of liberal Islam and presents what is essentially an egotistical, arrogant man's view of how incredible his achievements are. The idea of a billionaire who claims he is religious and prays to God 5 times a day contrasts starkly with how he put Koranic verses in the lobby of his Georges V hotel in Paris. The very lobby under which rich Parisians sip martinis and discuss Arab terrorists and immigrants in France.

The first chapter - indeed the rest of book seems incidental - is dedicated to providing a response to Rudolph's Guliani's rejection of Walid's $10m donation for 9/11. The rest of it is repetitious, self-congratulatory and eeks of both Walid's personal editing and Riz Khan's incompetence as a writer.

Anyway, point being, dont buy it.. read something useful (and spell-checked) instead.

24 of 30 people found the following review helpful:

5.0 out of 5 stars Fascinating biography on this elusive billionaire., October 28, 2005

By 

J. Lien (Newport Beach, CA) - See all my reviews
(REAL NAME)   

This review is from: Alwaleed: Businessman, Billionaire, Prince (Hardcover)

Yes, it comes with a 1 hour documentary DVD on the Prince. This is probably the first ever biography where they enclosed a DVD. I have never met the Prince nor seen him on TV, but the DVD gave me a good impression of him.

This book is an authorized biography of Prince Alwaleed. In America, he is not as famous as Warren Buffet, but he is quite well known in the Middle East, especially Saudi Arabia. Since this is an authorized version, the author, Riz Khan, is very careful not to say anything that is too negative or controversial about Alwaleed. We won't fault him for that since he wants to please the Prince.

What I enjoyed about this book is the numerous interviews made by Alwaleed. You get a good sense of how this man thinks and learn his philosophy about life and business. I also like reading about how the Prince lives and makes his business and investment decisions.

He is driven, precise, highly ambitious, demanding, fast-paced and extremely detailed-oriented man with a photographic memory. He will stop at nothing to reach his goals. How else can you account for his rise from a mere royal Prince starting with $30,000 in seed capital to being worth over $24 billion dollars in less than 25 years. He is respected by CEOs and heads of state from around the globe.

Alwaleed got his start in Saudi real estate and earning commissions from foreign contractors during Saudi Arabia's building boom in the 1980s. He then got into the banking business by buying and merging together Saudi banks. Alwaleed tells the story of how he saved Citibank from near collapse in the early 1990s by putting up a good chunk of his net worth (close to $600 million) during the bank's crisis.

He is extremely punctual and has such a demanding travel schedule that his entourage can't keep up. He gets by with very little sleep (4 to 6 hours). Where ever he goes, he must have access to a telephone and a television. His phone bill is close to $100,000 a month. He is in the process of building the largest personal yacht in the world. He has a private 747 jumbo jet. I believe he is likely to order a double-deck Airbus A380 too.

If you want a fascinating insider account of Prince Alwaleed, this is probably as good as it gets.

6 of 6 people found the following review helpful:

2.0 out of 5 stars Disappointed Reader, December 17, 2005

By 

B. Adkin (Atlanta, GA USA) - See all my reviews
(REAL NAME)   

This review is from: Alwaleed: Businessman, Billionaire, Prince (Hardcover)

This is the "authorized" biography and the only biography on Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud. When I picked up this book I hoped to learn more about the background of the Prince as well as his professional and personal accomplishments and what issues motivate him. Unfortunately, this book was very poorly written. Mr. Khan is no doubt an accomplished professional, but his writing lacks depth and substance. The book reads like a long drawn out magazine article and definitely strokes the ego of the Prince. On the other hand, I don't blame Khan for this type of writing. There would undoubtedly be professional and possibly personal repercussions if he was critical of the Royal Prince.

The book does explain how the Prince made his initial millions. The Saudi Kingdom requires that non-Saudi's wishing to establish businesses in the Kingdom, have a "Saudi partner". Therefore, royals are highly desirable due to their political access. Most royals simply take a one-time kick back for their counseling services. However, the Prince has wisely made every effort to establish partnerships and joint ventures with his international investors. Therefore, his kickbacks tend to be much larger in size and come in the form of steady streams of payments. Despite utilizing his "wasta", he should be given great credit for being able to legitimately grow his fortune. Furthermore, readers will learn of his great respect and passion for the Muslim faith despite the admitted failure of his last two marriages. Overall, this is a must read for anyone who wishes to learn more about the Princes boats, houses or planes. If that is not the case, I would recommend you pass on this one.