Saudi Prince Denounces ‘Forbes’ For Underestimating His Fortune


Prince Alwaleed bin Talal of Saudi Arabia, one of the richest men in the world, has filed a defamation lawsuit against the magazine ‘Forbes’ to value their wealth in dollars 20,000 million, 9.600 million less than it claims to have, as reports the British newspaper ‘The Guardian’.

This past March, the Saudi businessman, grandson of the founder of the country and nephew of the present king, promised to break with ‘Forbes’ by underestimating their wealth and place him in the position 26 of the richest men and accused the U.S. magazine to have “damages” against Saudi companies.

Now, Prince Alwaleed has chosen to file a complaint for libel in a London court against the publisher of Forbes’ Randall Lane, and two of its journalists, according to court documents seen by the Guardian.

The Prince has a significant number of shares of companies like Apple and Twitter, in addition to the media empire of Rupert Murdoch’s News Corporation.

Also has a significant real estate portfolio that includes the Savoy Hotel in London and the Plaza in New York, besides having a Boeing 747, known as the “Flying Palace”.

The magazine has reacted with astonishment to the complaint lodged by the Saudi prince and that he did “in the UK, a jurisdiction that does not have anything to do with our recent history that raised doubts about his claims about his wealth.”

In this sense, the publication has defended its information.

Legal experts have explained that Alwaleed must show that his reputation has suffered “serious damage” in England and Wales as a result of information ‘Forbes’ in case your complaint goes to trial.

In addition, you must demonstrate that the news caused financial losses to his Kingdom Holding emporium.