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MENAFN - Arab News - 03/02/2013

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(MENAFN - Arab News) Prince Alwaleed bin Talal, chairman of Kingdom Holding Company (KHC), met with Bill Gates, co-founder and chairman of Microsoft and CEO, Cascade Investment, LLC and co-chair of the Bill & Melinda Gates Foundation at The Savoy Hotel, during the prince's visit to London.

The meeting was attended by Isadore Sharp, founder and chairman of Four Seasons Hotels and Resorts, Michael Larson, Randy Jack, Laurie Smiley, Sarmad Zok, executive director of hotel investments, member of KHC Investment Committee and chairman and CEO of Kingdom Hotel Investments (KHI), Shadi Sanbar, KHC's executive director and CFO and member of the investment committee, and Chuck Henry, adviser of hotel capital adviser, KHI.

During the meeting, the two discussed the latest economic developments.

Moreover, Prince Alwaleed and Gates discussed topics related to KHC's international investments, including its stake of 47.5 percent in the Four Seasons which is co-owned by Bill Gates' Cascade with a 47.5 percent stake, of which the remaining 5 percent is owned by Isadore Sharp. Also, the two discussed future potential collaboration.

In October 2012, Prince Alwaleed held a private meeting with Bill Gates, during Prince Alwaleed's visit to Abu Dhabi. Furthermore, the prince and Gates attended the inauguration of the 3rd Abu Dhabi Media Summit on Oct. 9, 2012. During the event, a keynote speech was given by Gates.

In January 2012, Prince Alwaleed received Gates, at Kingdom Resort. The meeting was attended by Princess Ameerah Al-Taweel, vice chairwoman and secretary general of Alwaleed Bin Talal Foundation that is chaired by Prince Alwaleed. During the meeting the two discussed potential collaboration between Alwaleed Foundation and the Bill & Melinda Gates Foundation.

Prince Alwaleed has attended the annual Microsoft CEO Summit held at the Microsoft Conference Center in Redmond Campus in Seattle, Washington. The Prince's visit was in response to an invitation from Gates to attend the event. The prince was accompanied by his spouse Princess Ameerah Al-Taweel and a delegation from KHC and the foundation. The summit was exclusive to 100 CEOs most influential in the world. During the function, Prince Alwaleed met with some of the most prominent CEOs that included Warren Buffett, Berkshire Hathaway chairman and CEO. There was an opportunity to discuss general issues, topics related to investments and prince's international investments especially in the United States.

The prince has significant investments in the United States through KHC in the banking sector through Citigroup where he is the largest individual shareholder, in the media sector through News Corporation, and hotels sector through the management of Four Seasons Hotels and Resorts, Fairmont and The Plaza Hotel, New York, in addition to prestigious hotels in various US states. Moreover, investments in the entertainment sector through Time Warner and Walt Disney, and in the social media and technology sector via Twitter, and many other investments in the United States.

Prince Alwaleed's investments through KHC in the UK include The Savoy hotel, one of KHC's major investments in the UK, Canary Wharf in the real estate sector, and Citigroup in the financial sector. In addition, other investments include a 47.5 percent interest in the Four Seasons Hotels and Resorts, which manages 3 hotels - London at Park Lane, London at Canary Wharf and the third in Hampshire.


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