I'm Worth At Least £20BILLION! Saudi Prince Blasts Forbes Magazine After They Said He's Only Worth £13billion

Saudi Arabia’s Prince Alwaleed jumped three spots on Forbes’ richest list, to No. 26, with an estimated $20 billion fortune, but he still blasted the magazine for what he calls “bias against Middle East investors and financial institutions.”

Alwaleed vowed in a letter to Forbes Chairman and Editor-in-Chief Steve Forbes that he would no longer work with the magazine in preparing its much-publicized billionaire ranking.

A Forbes spokesman said the magazine calculated Alwaleed is worth $20 billion — up by $2 billion from last year but $9.6 billion less than what the Saudi crown prince believes he is worth.

Forbes said it has been investigating the prince’s finances for “several years,” and will detail its findings in the issue that hits newsstands later this week, although the story will be posted online this morning.

Among the lines that seem to have most angered Alwaleed was what he called an “allegation based on rumor” that stock manipulation “is the national sport” in Saudi Arabia because “there are no casinos.”

Alwaleed claims that valuations from emerging markets in countries such as Mexico are accepted while those of the Saudi-based Tadawul are not.

Source : NewYork Post