Saudi prince sues Forbes for underestimating his wealth

Alwaleed bin TalalPrince 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.

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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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