Prince Alwaleed's Citigroup shareholding

Discussion in 'Wall St. News' started by pcvix, Mar 7, 2009.

  1. pcvix


    Would anyone have info on what proportion of Prince Alwaleed's Citigroup shares have been sold since he first invested in the company in 1991?

    Just from his comments in this Nov 10, 2007 report, perhaps he has kept most of them?

    Citigroup Inc's largest individual shareholder, billionaire Saudi Prince Alwaleed bin Talal, regards the bank's share price as ridiculously low and is not selling any shares, a magazine quoted him as saying.

    "I will sell nothing. We are selling nothing," Alwaleed was quoted in Fortune magazine as saying of the largest U.S. bank, whose shares have slumped after failing to assure investors that a potential $11 billion write-down for subprime mortgages would not grow.

    "I want to make it clear that I fully support the leadership of Citigroup and think it is a very strong company with a good future," he said, according to excerpts of the interview dated November 9 and emailed to Reuters on Saturday.
  2. Bagholders have princes as well.
  3. Further on in the same article:

    "Citibank at this price ($33.10, 11/10/07) is ridiculous. Citibank does not deserve that. Citibank deserves a lot better," Prince Alwaleed was quoted as saying. He originally paid $2.75 per Citigroup share, adjusted for stock splits, he said.

    With any luck, the weasel is still holding. C closed at $1.03 on Friday.

  4. pcvix


  5. Daal


    Just a rich guy who thinks things always go up
  6. "Speculators in stock markets have lost money. But I believe that it is a safe statement that the money lost by speculators alone is small compared with the gigantic sums lost by so-called investors who have let their investments ride....From my point of view, the investors are the big gamblers. They make a bet, stay with it, and if all goes wrong, they lose it all."

    - Jesse Livermore, "Reminiscences of a Stock Operator"