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He bought a substantial tranche of shares in Citicorp in 1991, when the company was in crisis.

From an initial investment of 0 million (.98 per share after adjustments for stock splits, acquisitions and spin-offs, according to Bloomberg calculations) to bail out Citibank's underperforming American real-estate and Latin American business-loan portfolios, his holdings in Citigroup grew to about

He bought a substantial tranche of shares in Citicorp in 1991, when the company was in crisis.From an initial investment of $550 million ($2.98 per share after adjustments for stock splits, acquisitions and spin-offs, according to Bloomberg calculations) to bail out Citibank's underperforming American real-estate and Latin American business-loan portfolios, his holdings in Citigroup grew to about $1 billion.He has not earned enough income from his investments to pay for all that he has spent in the 1990s.

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He bought a substantial tranche of shares in Citicorp in 1991, when the company was in crisis.

From an initial investment of $550 million ($2.98 per share after adjustments for stock splits, acquisitions and spin-offs, according to Bloomberg calculations) to bail out Citibank's underperforming American real-estate and Latin American business-loan portfolios, his holdings in Citigroup grew to about $1 billion.

He has not earned enough income from his investments to pay for all that he has spent in the 1990s.

The mystery goes back to that first stake in Citicorp.

The prince has declared that this money came entirely from his personal funds.

He says he started out in 1979 with a loan of just $30,000 from his father.

His stake in Citibank accounted for approximately half his wealth before the financial crisis of 2007–08.

billion.

He has not earned enough income from his investments to pay for all that he has spent in the 1990s.

The mystery goes back to that first stake in Citicorp.

The prince has declared that this money came entirely from his personal funds.

He says he started out in 1979 with a loan of just ,000 from his father.

His stake in Citibank accounted for approximately half his wealth before the financial crisis of 2007–08.

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Nevertheless, by 1991 Prince Alwaleed had felt able to risk an investment of 7m in Citicorp.Jeffrey Towson, al-Waleed's former head of direct investments for MENA and Asia-Pacific, published a report on his blog in response to the Forbes article entitled "The 8 Big Mistakes in Forbes' Attack on Prince Alwaleed".