For the eighth consecutive year Saudi billionaire Prince Alwaleed, chairman of the Kingdom Holding Company, has topped the Arabian Business Rich List.
Saudi Prince Alwaleed bin Talal has once again topped the Arabian Business Rich List, making this the eighth consecutive year. Alwaleed was recently dubbed The Prince of Twitter, following his $300 million investment in the micro-blogging site. During 2011 his fortune increased by 4.4 percent to $21.3 billion.
The prince, who holds a 95 percent share in the Kingdom Holding Company, was named themost powerful Arab in 2011 earlier this year by the Arabian Business Magazine. According to the Saudi Gazette the KHC is the largest foreign investor in the U.S.
The Gulf News has reported that Prince Alwaleed's latest venture, the Al Arab TV, will be located in Bahrain. Al Arab will concentrate on news from the Gulf Region and Alwaleed has said the "new channel's editorial line would pay particular attention to freedom of speech."
In addition to his business interests Prince Alwaleed is notable for the Alaweed bin Talal Foundation, a charitable venture, and for seeking progress in women's rights in his homeland.