Saudi Prince Sues Forbes For Saying His Net Worth Is $20 Billion When It’s Really $30 Billion
A Saudi prince was so upset that Forbes underrepresented his net worth by $10 billion that he is suing the publication.
Prince Alwaleed bin Talal was ranked 26th by Forbes magazine with an estimated net worth of $20 billion, when the Saudi Prince claims his net worth is really $29.6 billion, a figure that would put him in the top ten.
The prince is accusing Forbes of a “flawed” valuation method that “seemed designed to disadvantage Middle Eastern investors and institutions.”
He says he will no longer provide Forbes with details of his finances, and instead will still work with Forbes’ rival, Bloomberg.
The Bloomberg Billionaires Index was set up to compete with the famous Forbes list in 2012.
The Bloomberg list estimates the net worth of the prince, who owns the investment firm Kingdom Holding Company, at $28 billion, which pins him as the 16th richest in the world.
At that point, aren’t they just arguing over minute details? Sounds like somebody is compensating for something.
Hugh Everett | Elite.