Saudi Prince Buys Fairmont Hotels For $3.9 Billion
 

http://money.canoe.ca/News/Sectors/C...353118-cp.html

Very interesting :)

DH

Seriously.... everything Waleed Bin Talal touches turns to gold. The man is a genius and isnt one of those typical spoiled princes. He took a VERY small fortune and turned it into an empire.

http://en.wikipedia.org/wiki/Kingdom_Holding_Company

Not to mention he owns LVMH. :-)

Must be nice to have that kinda $$$

I bet he mades his money selling online porn :pimp

dayumn thats some mad bling

No... he started out with around $200k and played the stock market and slowly built it up. Then he just went out acquiring like mad.

This man is a machine... I have seen his set up and how he watches the stockmarket. Over 10 screens that he looks at all day long.

lots of money there.

That's really interesting. Do you have a link?

He started with only $15,000 cash and taking a $400K equity loan on his house in 1979.

But you have to keep in mind he had connections to the Saudi royal family which certainly helps to open doors.

:thumbsup

Unfortunately I cant find the link anymore since it was something I saw 5 years ago in Business Week or Time, cant remember. However here is an interview with NYT that is interesting:

http://www.nytimes.com/global/saudia...terview06.html

i think he bought the Rimrock then in Banff

was japanese owned whn i was there

made sense. this deal was better than having carl icahn trying to break up the chain.

i was always confused with fairmount and four seasons.. now its the same owner :D

i think that sucks, all these towel heads are buying are businesses, and we are going to wonder as Canadians in 10 years why there is no Canadian businessmen left and we are all working for americans + foreigners.

For some reason I was more partial to "camel jockies" but thanks.

Anyways... if someone is a smart business man.. you cant hate him for that. You snooze you lose.

theres always cirque du soleil

Thanks :thumbsup

Wow, that's big

anyone turning 15k cash and 400k equity into 23.5 billion deserves some respect. talk about trying to make a dollar out of 15 cents.. he must have gotten tired of looking at the dirt in that vast desert and not being able to see a stitch of pussy with all the rags covering the women. hes just living the american dream and doing it well.

Fairmont has been looking for this deal for years.. they have wanted a company to invest and take them and put them on the Global map for Luxury and resort hotel locations. They had started partnering with Hotels in places like Dubai and buying up well established hotels in places like Bermuda but obviously too little at a time.

The company is Canadian that represents the Saudi Prince, but the hotel will be managed by an Asian company.

It will be very interesting to see what they do with the old Cp properties.

The tales of the rich and famous...

Well, they have all the money in the world. They can spend it like there is no tomorrow.

And while they are enjoying all the luxuries in this world, half of the planet is dying from hunger and poverty.

Must be fucking nice. Seriously.

So do I, it is a publicly traded company.

I do respect a person that can take nothing, and make something. But when they have, and use the family name, and ties, I dont see the same respect.

Kind of starts to slip into the Paris Hilton thing. She was loaded before. Sold her pussy, and made her own money. Would still be some skinny bimbo selling her pussy if it had not been for her name. Same with this guy. because of the name, people have jumped in, and helped him out, and he has grown.

I am a huge fan of the Fairmont chain sayed there for the last two weeks.

Wrong, he made his money in construction originally....Also the Saudi's had a law (I'm sure they still probably do) where in order for a foreigner to create a business in their country they must have a Saudi partner.....he used his clout as a member of the royal family to create succesful income generating businesses for himself.

You're entitled to you're opinion BUT IMO that's rediculous.

Leveraging contacts and relationships that drive success and humanitarian efforts DOES NOT take anything away from the ultimate results. It's smart business.

READ THIS and then speak about THIS GUY from a more educated position :winkwink:

BTW - thanks for that link, MoneyShotMadame - it was a very good interview. Time well spent learning about him :thumbsup

Commie...

He's only a prince, I'm a Sultan :)

Good for him, Im sure he is having fun investing his money, Hotels arent an easy thing to run especially when the economy is down

http://www.menafn.com/qn_news_story_...StoryId=118763

He was a "smaller prince" his dad was the 21st son of the king, plus he only had 30k to start with, and made a lot of his dough with Citibank stocks.

from the article: "You became Chairman at 14 and billionaire at 31. Now you are 50 years old."

Chairman at 14 lol, this dude had some big ass doors opened for him no doubt. Still, he's definitely one helluva businessman.

Prince Al Waleed's investment in Citigroup was at a split adjusted price of $2.4 a share (the bank now trades above $49 on the NYSE ). His $600 million stake is now worth $12 billion.

Everybody thank the gulf war!

bump for an interesting thread

Interesting stuff, thanks for the links.