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Prince Alwaleed & Google’s Schmidt Meet in Chicago

November 26, 2013

HRH Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud, Chairman of Kingdom Holding Company (KHC), met with Mr. Eric Schmidt Executive Chairman of Google in Chicago, United States of America. The meeting was attended by Mr. Shadi Sanbar, KHC’s Executive Director and CFO and Member of the Investment Committee, Ms. Heba Fatani, Senior Executive Manager, Corporate Communications Department, Dr. Nahla Nasser Alanbar, Private Executive Assistant to HRH the Chairman, Mr. Naief Hussam Alzuhair, Manager, Website and Social Media and Mr. Fahad Bin Saad Bin Nafel, Executive Assistant to HRH the Chairman.


During their meeting HRH and Mr. Schmidt discussed business and economic issues. The two also discussed Prince Alwaleed’s investments in the US in light of being the largest individual foreign investor there. Also, on the agenda of discussions was future potential business cooperation between KHC and Google in the technology field.


In February 2013, Prince Alwaleed met with Mr. Eric Schmidt at The Savoy hotel, UK. Also, Prince Alwaleed and Google’s Schmidt held a lunch meeting in the presence of, HRH Prince Khalid Bin Alwaleed Bin Talal Bin Abdulaziz Alsaud and Mr. Shadi Sanbar.


HRH has significant investments in the US in the financial sector via Citigroup, in the media and entertainment sector through 21st Fox Century and in the hotel sector through the Fairmont New York Plaza one of New York’s most distinctive landmarks, Four Seasons hotel via the management of Four Seasons Hotels and Resorts in which KHC hold a 47.5% interest, and in the Social Media and Technology sector via Twitter.


His Highness first invested in Citigroup in 1991, and is the largest individual shareholder in the company. In 2008, Prince Alwaleed participated in a $12.5 billion private offering of convertible preferred securities of Citigroup. The new direct investment was made alongside an exclusive group of leading international investors. The Prince converted the preferred shares in 2009 into common shares (voting shares). Prince Alwaleed has 7% (voting shares) through KHC in 21st Fox Century and KHC that is 95% owned by Prince Alwaleed, is the second largest shareholder in 21st Fox Century after the Murdoch family. Moreover, 21st Fox Century owns 19% stake in Rotana that is chaired by Prince Alwaleed.


The New York Plaza that is owned 50% by HRH through KHC underwent a $400 million renovation and reopened a few years ago. The hotel is managed by Fairmont Raffles Hotels International (FRHI) in which KHC holds a substantial interest.