Perhaps no single transaction has catapulted Prince Alwaleed to the world’s financial stage in as spectacular a fashion as did his acquisition in 1991 of Citibank (subsequently, Citigroup) stocks. Few people could then imagine that a Saudi Arabian, and a royal at that, would burst onto the international scene, seemingly out of nowhere, to invest so heavily in one of the major banks of the world and to help restore it to such health that it would become the leading financial institution in the world. Needless to say, this was not propelled by a sense of altruism, but by the impetus to act whenever suitable opportunities presented themselves. That investment has since brought Prince Alwaleed stellar returns, and as Citigroup’s largest individual shareholder, that segment of his total portfolio now constitutes the biggest portion of his wealth.Guess who was the biggest recipient, based on the newly released Federal Reserve Audit? If you Guess Citigroup you are correct.
The list of institutions that received the most money from the Federal Reserve can be found on page 131of the GAO Audit and are as follows..
Citigroup: $2.5 trillion ($2,500,000,000,000)
Just remember, "That's the Chicago Way."
http://www.cnbc.com/id/42099554
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http://www.kingdom.com.sa/shared/pdf/EnglishCVupdated1Jan2011.pdf
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