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article imageForbes alleges Prince Alwaleed 'exaggerates' his wealth

By Katerina Nikolas     Mar 6, 2013 in World
Forbes magazine has responded to accusations by Saudi Prince Alwaleed that it has underestimated his wealth in it's list of the world's richest people, by alleging the prince "systematically exaggerates" his wealth.
Ranking Saudi Prince Alwaleed bin Talal as number 26 in the 2013 rich list, Alwaleed's entry states he "bills himself as the 'world's foremost value investor.'" As Digital Journal reported the prince complained the magazine had underestimated his wealth, leading his office to announce Alwaleed will no longer cooperate with the magazine.
Forbes has responded by publishing a scathing piece dedicated to exposing Alwaleed's ego, writing:
"Image is everything to Prince Alwaleed, with specific care paid to those who can provide outside validation. He meets with very important people. Just ask him. His staff issues a press release with a photo seemingly every time he interacts with someone big (Bill Gates), someone who might someday be big (Twitter CEO Dick Costolo) or just someone who sounds big (Burkina Faso’s ambassador to Saudi Arabia)."
The article goes on to claim that Alwaleed considers the Forbes Rich List as of paramount importance in validating his importance in terms of global wealth. Forbes stated that the prince would not cooperate with the magazine as it prepared the article, but his CFO, Shadi Sanbar, contributed by saying:
"I never knew that FORBES was a magazine of sensational dirt-digging and rumor-filled stories."
The Forbes piece proceeds to examine the prince's net worth in some detail. The fallout between the two parties is likely to provide some interesting reading if the argument hots up.
More about Prince alWaleed, Forbes magazine, Kingdom Holding company, Forbes billionaires list, Shadi Sanbar
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