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A Saudi billionaire who calls himself the Arabian Oracle of Omaha made a $500 million bet on Russia round the time of the Ukraine wars onset

Saudi billionaire Prince Alwaleed Bin Talal invested a lot more than $500 million in Russian firms in the times around Moscows invasion of Ukraine.

Prince Alwaleeds investment firm, Kingdom Holding Co., acquired depositary receipts issued by Gazprom PSJC, Lukoil PJSC and Rosneft PJSC in February, in accordance with a stock marketfiling. Russia invaded Ukraine on Feb. 24.

No specific dates for the investments received, and the Saudi firm didnt react to questions about whether it still owned them. The worthiness of most those depositary receipts dropped rapidly following the war began, when trading in Moscow washaltedand western sanctions were imposed on Russia.

Alwaleed, whose grandfather was the founder of modern Saudi Arabia, is among the countrys richest men & most visible international investors. Recently he’s got been eclipsed by the kingdoms sovereign wealth fund, chaired by his cousin, Crown Prince Mohammed bin Salman, which acquired a 16.9% stake in Kingdom Holding Co. in-may.

Prince Alwaleed was also detained at the Saudi capitals Ritz-Carlton hotel in 2017 and also other princes and government officials within what hawaii named an anti-corruption probe. No formal charges were ever presented, and he premiered after 83 days, having reached an undisclosed confirmed understanding with the federal government.

Kingdom Holding invested 1.37 billion riyals ($365 million) in Gazproms American depositary receipts in February, the largest stake of these disclosed up to now this year. In addition, it invested 196 million riyals in Rosnefts global depositary receipts exactly the same month, and 410 million riyals in Lukoils American depositary receipts between February and March.

Other investments

Kingdom Holding invested $3.4 billion in global equities and depositary receipts since 2020, in line with the filing, a rare little bit of disclosure by the business. The biggest stake was an investment valued at 2.5 billion riyals in Spains Telefonica SA between April to August 2020.

In addition, it disclosed stakes in Uber Technologies Inc., TotalEnergies SE, Alibaba Group Holding Ltd. and BHP Group Ltd., acquired mostly in 2020 and 2021. The newest deal it disclosed was a 178 million riyal stake in Hercules Capital Inc., manufactured in June. The capital raising firms shares have risen 17% because the start of July.

Prince Alwaleed, 67, became among the highest profile Saudi investors after taking stakes in companies such as for example Citigroup Inc. and Apple Inc. Hes supported Prince Mohammeds modernization efforts, including giving women the proper to operate a vehicle.

Recently hes announced thesaleof a stake in his Rotana Music label to Warner GROUP Corp., and he raised $2.2 billion by selling section of his stake in the Four Seasons hotel chain to Bill Gates Cascade Investment LLC.

Alwaleed is well known for long-term investments and is really a fan of famed investor Warren Buffett. He once called himself the Oracle of Omahas Arabian equivalent.

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