Prince Alwaweed Takes Biggest Citi Hit

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.

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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.