A Saudi billionaire who calls himself the Arab ‘Oracle of Omaha’ bets $500 million on Russia amid Ukraine war

During Moscow’s invasion of Ukraine, Saudi billionaire Prince Alwaleed bin Talal invested more than $500 million in Russian companies.

Prince Alwaleed’s investment firm Kingdom Holding Co. Gazprom PSJC, Lukoil According to stock exchange data, PJSC and Rosneft PJSC archive. Russia invaded Ukraine on February 24.

No specific dates were given for the investments, and the Saudi company did not answer questions about whether it still owns the investments.The value of all these depositary receipts dropped rapidly after the war began, when the Moscow deal stop The West imposes sanctions on Russia.

Alwaleed’s grandfather, the founder of modern Saudi Arabia, is one of the country’s richest men and best-known international investors. He was recently overshadowed by the Kingdom’s sovereign wealth fund, chaired by his cousin, Crown Prince Mohammed bin Salman, which bought a 16.9 percent stake in Kingdom Holding Co. in May.

Prince Alwaleed was also detained at the Ritz-Carlton hotel in the Saudi capital in 2017 along with other princes and government officials, as part of the state’s so-called anti-corruption investigation. No formal charges were ever filed, and he was released after 83 days in an undisclosed “confirmed understanding” with the government.

Kingdom Holdings invested 1.37 billion riyals ($365 million) in Gazprom’s American depositary receipts in February, the largest stake disclosed so far this year. In the same month, it also invested 196 million riyals in Rosneft’s global depositary receipts and 410 million riyals in Lukoil’s American depositary receipts between February and March.

other investments

According to the filing, Kingdom Holding has invested $3.4 billion in global stocks and depositary receipts since 2020, a rare disclosure by the company. The largest stake is an investment in Spain worth 2.5 billion rials. Telefonica SA between April 2020 and August 2020.

It also disclosed in Uber technology company, Almighty southeast, Alibaba Group Holding Ltd and BHP Billiton Group Ltd., mainly acquired in 2020 and 2021. The latest deal it disclosed was a 178 million riyal stake in Hercules Capital Inc. in June. Shares of the venture capital firm have risen 17% since early July.

Prince Alwaleed, 67, becomes one of Saudi’s most famous investors after taking stakes in Citigroup company and apple The company has backed Prince Mohammed’s modernization efforts, including empowering women to drive.

Recently, he announced Sales Holds a stake in his Rotana Music record label Warner Music Group Corp., which raised $2.2 billion by selling part of his stake in the Four Seasons hotel chain to Bill Gates’ Cascade Investment LLC.

Alwaleed is known for his long-term investments and is a fan of famous investor Warren Buffett.he used to call himself Oracle The Arabic equivalent of Omaha.

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