Saudi Prince sued over $120m plane deal

By Julia Duke

02 July 2013 at 11:10 BST

Saudi Prince Alwaleed bin Talal is facing allegations claiming that he didn't pay a businesswoman her fair share in a $120 million private plane deal which also involved late Libyan leader Muammar Gaddafi.

Arabian Prince owns shares in Citigroup and News Corp

The nephew of Saudi Arabian ruler Abdullah went up against Jordanian businesswoman Daad Sharab who argued that she deserved a $10 million cut for her role in the 2006 sale to Libyan dictator Gaddafi, the Times reports.
According to the report,  the billionaire testified that he travelled to meet Gaddafi to handle the deal himself. Prince Alwaleed also claimed that he never agreed on a point of commission with Mrs Sharab.

Net Worth

Forbes has ranked the Prince number 26 amongst global billionaires totalling his estimated net worth at $20 billion. The Prince, however, believes that the magazine reported a lower value than what he is actually worth.
Although he is considered the Arab world’s richest businessman, the Prince was cited saying, ‘For me, every dollar counts’. 


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