Prince Alwaleed $1.2 Billion Poorer Since Saudi Corruption Purge
- Net worth retreated to $17.8 billion at close on Monday
- Kingdom Holding’s stock declines to lowest in almost 6 years
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Prince Alwaleed bin Talal is still very wealthy, but even the mega-rich would balk at losing more than $1 billion in 48 hours.
His net worth fell to $17.8 billion after the market value of the Saudi investment firm he founded plummeted $1.3 billion this week. Kingdom Holding Co.’s stock closed on Monday at the lowest level since December 2011.