There are first world problems…then there’s this

The other day I accidentally broke my iPad. Had to use the Nexus. If that goes I’ll be forced to use the laptop!

If I order a latte in Perth I get a totally different drink to when I order it in Melbourne. How annoying is that!

Sometimes our air con over cools the bedroom at night and I wake up too cold.

I wanted an Xbox for Christmas. I ended up with a PlayStation. That sucks.

That pomegranate salad looked amazing. Taste…very disappointing!

First season in new ski boots is always horrible.

My Nan decided to follow me on Twitter. Now I have to open a new account.

Can’t stand it when my live dealer video stream occasionally freezes or lags behind the deal.

All first world problems. Here are a few more…

I guess the message is, problems are all about perspective…something many of us living in the first world could do with a healthy dose of.

Then there’s Prince Alwaleed Bin Talal.

I’m no authority on this subject and haven’t done extensive research but I suspect Prince Alwaleed needs the biggest perspective adjustment of anyone living on planet earth.

Prince Alwaleen sitting on his throne inside his private (Boeing 747) jet

Prince Alwaleen sitting on his throne inside his private (Boeing 747) jet

Here’s his problem.

The good people at Forbes magazine, in compiling their 2013 rich list, put his net worth at $20 billion. According to Alwaleed they are a few billion short of the real figure. By his reckoning he’s worth $29 billion and should be placed in the top 10 on the list rather than where he ended up – a miserable 26th.

The Prince is very upset at this horrible travesty of justice and has now had a very public falling out with Forbes.

In case you are wondering how there can be a $9 billion difference in his and Forbes’ figures, the explanation is given in an entertaining piece by Kerry A. Dolan who edits the rich list (note to Prince – don’t pick a fight with an organization that buys ink by the barrel load!).

A condensed version goes something like this:

Prince Alwaleed’s number is based on the value of his shareholding in Kingdom Holding Co. which is a very thinly traded company listed on the Saudi stock exchange. It was privately and wholly owned by Alwaleed until he floated 5% of the company’s shares a few years ago. Kingdom Holding Co. is simply an investment vehicle that owns shares in a bunch of well known companies like Apple, Citigroup, etc.

Curiously, the value of Kingdom Holding Co. have for the last 4 years spiked noticeably each December (over 100% on occasion), despite no correlating spike in the value of its share portfolio. After December, Kingdom Holding Co shares are mysteriously dumped and return to lower levels again.

Forbes compiles its list in December.

This year Forbes were onto the good Prince’s shenanigans and instead of calculating his net worth based on the ‘market’ value of his Kingdom Holding Co. shares, they used the value of the underlying share holdings of Kingdom…$20 billion.

Sucks to be worth only $20 billion!

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