Sep 18, 2012
Prince Alwaleed Receives Deputy Secretary of US Treasury to Discuss Economic Issues

HRH Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud, Chairman of Kingdom Holding Company (KHC) in his office in Riyadh Mr. Neal Wolin, Deputy Secretary of the Treasury and an accompanying delegation. The delegation included Mr. Daniel Glaser, Assistant Secretary, Mr. Andy Baukol, Deputy Assistant Secretary for MENA, Ms. Raisa Sheynberg, Advisor, Mr. Daniel Balke, International Economist and Mr. Stuart Jones, Treasury Financial Attache for the Gulf countries.

The meeting was also attended by Mr. Shadi Sanbar, KHC’s CFO, Mr. Mohammed Almujadidi, Senior Executive Manager, Office of HRH the Chairman, Ms. Heba Fatani, Senior Executive Manager, Corporate Communications Department, Prof. Samir Anabtawi, Academic Advisor to HRH the Chairman, Dr. Nahla Nasser Alanbar, Private Executive Assistant to HRH the Chairman, Ms. Intisar Al-Yamani, Executive Manager, Corporate Communications Department and Mr. Husam Alsuliman, Executive Assistant to HRH the Chairman.

The meeting began with Mr. Neal Wolin thanking Prince Alwaleed for giving him the opportunity to meet with him and the rest of his delegation. During their meeting HRH and Mr. Wolin 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.

In May 2012, Prince Alwaleed received a US media delegation that included Mr. David Andelman, Editor-in-Chief of the World Policy Journal, Ms. Arlene Getz from Reuters, as well as a number of writers, directors and media specialists. Furthermore, Prince Alwaleed hosted a dinner in honor of the delegation at HRH’s desert camp.

In March 2012, Prince Alwaleed received Mr. Jose Fernandez, US Assistant Secretary of State, the Bureau of Economic and Business Affairs and an accompanying delegation.

Earlier this year, Prince Alwaleed and HH Princess Ameerah Al-Taweel, Vice Chairwomen and Secretary General of Alwaleed Bin Talal Foundation were on a trip to the #United_States. During their visit to New York, HRH granted interviews to prominent US media entities to discuss various topics such as his investments, the current status of the global economy and the Middle East. Moreover, during the US trip HRH and HH hosted an historic gathering of leading scholars and global thought leaders on Islam and the West at Alwaleed Bin Talal Islamic Studies Program at Harvard University with a theme of “Collaborative Education for a Globalized World”. Participating in the forum were leading global scholars who serve as Directors of the six Prince Alwaleed Academic Centers located at the world’s most prestigious universities. In addition, Princess Ameerah was the featured speaker at a thought-leader dinner in Boston in the presence of HRH and Former President Jimmy Carter. The Gala dinner hosted by Prince Alwaleed, honored the dedicated work of the six Prince Alwaleed Centers.

In 2011, Prince Alwaleed and Princess Ameerah received Ambassador Stephen A. Seche, Deputy Assistant Secretary of State for the Arabian Gulf in the Bureau of Near Eastern Affairs. The two discussed women’s empowerment and Alwaleed Foundation’s role in supporting this initiative. Moreover, the discussions revolved around the University Centers funded by Alwaleed Foundation 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).

Furthermore, HRH received and held a dinner in honor of Mr. Larry Summers, Former Secretary of the Treasury of the United States and Former Director of the White House, United States National Economic Council for President Barack Obama. The meeting was also attended by Mr. Alberto Verme, CEO of Europe, Middle East, and Africa, Citigroup.

In May 2011, Prince Alwaleed was on a trip to the United States of America and during his visit to New York he met with Mr. Michael Bloomberg, Mayor of the City of New York and Founder of Bloomberg at the New York City Hall. Prince Alwaleed also attended the 15th Microsoft CEO Summit held at the Microsoft Conference. HRH’s visit was in response to an invitation from Mr. Bill Gates, Chairman of Microsoft to attend the event. During the same trip Prince Alwaleed granted interviews to prominent US media entities to discuss various topics such as his investments, the current status of the global economy and the Middle East.

HRH has significant investments in the US through KHC in the financial sector via Citigroup, in the media and entertainment sector through News Corporation, 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 retail via SAKS Fifth Avenue.

Prince Alwaleed first invested in Citigroup in 1991, and is the largest single shareholder in Citigroup. In January 2008, Prince Alwaleed privately participated in a $12.5 billion private offering of convertible preferred securities of Citigroup. The 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) at $3.25 per share (32.50 after 10:1 reverse stock split).

HRH is the second largest shareholder in News Corp and also the beneficial owner of approximately 7 percent of News Corporation’s Class B Common Stock. 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 40% interest.