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Prince Alwaleed Meets Mayor of Chicago

November 25, 2013

HRH Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud, Chairman of Kingdom Holding Company (KHC), met with The Hon. Rahm Emanuel Mayor of Chicago, on Wednesday 20th November 2013. The meeting was attended by Mr. Andy Lack, Chairman of Bloomberg Media Group, Mr. Daniel L. Doctoroff is Chief Executive Officer (CEO) and President of Bloomberg. The meeting was also 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.

 

During their meeting His Highness and Mr. Emanuel discussed business and economic issues, and the current status of the global economy. They also discussed Prince Alwaleed’s investments in the US in light of being one of the largest foreign investor there.

 

Also during the visit, Prince Alwaleed attended Bloomberg’s “The Year Ahead 2014” Business Summit that took place in Chicago, United States.

 

Prince Alwaleed participated in an invigorating session titled “A conversation with HRH Prince Alwaleed” hosted by Mr. Erik Schatzker, Bloomberg Television. The session topics revolved around the global economy, Kingdom Holding Company and Prince Alwaleed’s local, regional and international investments, as well as his views on business strategies, and leadership. Prince Alwaleed also responded to political, economic and financial questions.

 

Interview Link:

http://www.bloomberg.com/video/a-conversation-with-hrh-prince-alwaleed-bin-talal-YT1WxxOiTzGX_~EI8YaJIQ.html

 

The two-day Summit at the Art Institute of Chicago brought together more than 250 CEOs, senior executives, public sector officials and thought leaders looking to test their assumptions and gain new ideas on sustaining success in 2014’s challenging economic climate.

 

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.

 

Furthermore, Alwaleed Bin Talal Foundation funded University Centers in the US for bridging the gap between East and West. These include a $20 million donation to Harvard University to create the University-wide Islamic Studies Program and $20 million donation to Georgetown University to create the Center for Muslim-Christian Understanding both supported in 2005. In addition in 2004, Alwaleed Foundation also made a $5 million donation to establish the Center for American Studies and Research (CASAR) at the American University in Beirut (AUB) and donated $10 million to finance both the construction of the Humanities and Social Sciences (HUSS) building in the new campus of the American University in Cairo (AUC).