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Alwaleed Sells Airbus A380 to Invest in Middle East Firms

Prince Alwaleed Bin Talal Al Saud, the world’s 15th-richest person, sold his Airbus A380 jet plane in the past four months, according to Shadi Sanbar, chief financial officer of the billionaire’s Kingdom Holdings Co.

The 57-year-old, who bought the plane in 2007, used the proceeds from the sale to expand his investments in Saudi Arabia and the greater Middle East, Sanbar said in an e-mail to Bloomberg News. He would not disclose the buyer or the sale price, citing “strict confidentiality” agreements.