2008-11-20 — nypost.com
Citigroup, his largest holding, has fallen more than 75 percent since Jan. 15, when Alwaleed increased his stake in the bank to 4.5 percent following the ouster of then-chairman Chuck Prince.
When Alwaleed bailed out Citi's predecessor, known as Citicorp, in 1991, the bank was close to going bankrupt, and the stock price was a fraction of what it is even today, said an aide to the prince, who has worked with Alwaleed since the mid-1990s and calls the Citicorp investment one of the smartest of all time.
Comments: Be the first to add a comment
Note: Comments may take a few minutes to show up on this page. If you go to the forum thread, however, you can see them immediately.