Jump to content

Report: Saudi prince claims to own 1% of GM


NewsFeeder

Recommended Posts

Filed under: GM, Earnings/Financials, Middle East

Saudi Prince Walid bin TalalThe dust is beginning to settle around the General Motors IPO, and we're finally getting a sense of exactly who is holding onto big slices of the company. The New York Times is reporting that Saudi Prince Walid bin Talal has managed to snag a full one percent of the automaker with a massive $500 million investment. The prince has a long history of backing various American companies through Kingdom Holdings, including Citigroup. Talal says that in the case of The General, he has faith that the company's new management can pull off respectable growth and profits.

The prince calls King Abduallah uncle, and while he isn't likely to ever ascend to the country's throne, odds are he wouldn't want to even if he had the chance. Last we heard, the guy was worth somewhere in the neighborhood of $20 billion thanks to his successful investments.

[source: The New York Times | Image: Rabih Moghrabi/AFP/Getty]

Report: Saudi prince claims to own 1% of GM originally appeared on Autoblog on Tue, 23 Nov 2010 13:57:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments

di
di

autoblog?i=NFjCftB-uBE:NQxQcbM1CVk:wF9xT autoblog?i=NFjCftB-uBE:NQxQcbM1CVk:V_sGL
NFjCftB-uBE

View the full article
Link to comment
Share on other sites

Join the conversation

You are posting as a guest. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.



About us

CheersandGears.com - Founded 2001

We ♥ Cars

Get in touch

Follow us

Recent tweets

facebook

×
×
  • Create New...