Results 1 to 5 of 5

Thread: Mother of all first world problems

  1. #1
    Administrator LD's Avatar
    Join Date
    Nov 2010
    Location
    Andorra
    Posts
    4,072

    Mother of all first world problems

    Forbes recently updated their rich list

    Saudi Prince Alwaleed bin Talal is very upset that they put his net worth at $US20 billion (only 26th) rather than his claimed figure of $US29 billion.

    Imagine if this was your biggest issue?
    'coz good old fashioned real random beats simulated random any day

  2. #2
    I would be slightly upset who had my missing $US9 billion !

  3. #3
    Administrator LD's Avatar
    Join Date
    Nov 2010
    Location
    Andorra
    Posts
    4,072
    Basically he fudges the value of the shares in his investment holding company. Each year around the time Forbes are compiling their list (December), the value of Kingdom Holding Co. shares (thinly traded Saudi listed company which he owns 95% - this is essentially his wealth) jump in value, then drop shortly after when sold off again.

    So Forbes, noticing the irregular share price movements calculated his wealth based not on the value of the Kingdom Holding Co shares, but instead the value of Kingdom's investment holdings (Apple, Citibank, etc). It's basically an investment vehicle that owns shares in other companies.

    Seems Prince Alwaleed is just desperate to be higher on the list and to be known as a the Warren Buffet of the Arab world.

    Apparently he also has a copies of finance magazines with his image photo-shopped on covers. Forbes - "The world’s shrewdest businessman" (Steve Jobs removed), "Time "Man of the Year" etc.
    'coz good old fashioned real random beats simulated random any day

  4. #4


    Well at least he just made it onto my list of shallow people.

  5. #5
    Junior Member kanja's Avatar
    Join Date
    Dec 2010
    Posts
    17
    World's richest d1ckhead.

    He should ask Forbes to do this list

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •