Saudi prince launches libel action against Forbes magazine over Rich List [View all]
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Source: The Guardian
Saudi Arabia's Prince Alwaleed bin Talal, one of the world's wealthiest businessmen who owns assets including London's Savoy hotel, has launched a libel action against the business magazine Forbes over claims it underestimated his fortune by $9.6bn.
Alwaleed, who is often described as the most influential businessman in the Middle East, vowed to sever ties with Forbes in March when its coveted annual Rich List valued him at $20bn – placing him as the 26th most wealthy billionaire on the planet.
The prince insisted he was worth closer to $30bn and accused the respected US magazine of being "demonstrably biased" against Saudi Arabian firms.
Read more: http://www.guardian.co.uk/media/2013/jun/06/saudi-prince-libel-action-forbes-rich-list
Lesson 1 of How to Piss Off a Billionaire.
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