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Saudi prince sues Forbes for underestimating his wealth

f933683e9a371952035e605716a50a39 Saudi prince sues Forbes for underestimating his wealthPrince Alwaleed bin Talal, who owns London’s Savoy hotel, claims US publication undervalued his wealth by $9.6bn

Saudi Arabia’s Prince Alwaleed bin Talal, one of the world’s wealthiest businessmen who owns assets including London’s Savoy hotel, has launched a libel action against the business magazine Forbes over claims it underestimated his fortune by $9.6bn.

Alwaleed, who is often described as the most influential businessman in the Middle East, vowed to sever ties with Forbes in March when its coveted annual Rich List valued him at $20bn – placing him as the 26th most wealthy billionaire on the planet.

The prince insisted he was worth closer to $30bn and accused the respected US magazine of being “demonstrably biased” against Saudi Arabian firms.
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