Saudi Billionaire Prince Alwaleed Trumpets New Hotel In Ramallah | forbes.com
Saudi Prince Alwaleed bin Talal’s support for Palestine took a step further with the opening on Jan. 11 of a Movenpick hotel in Ramallah, the administrative capital of the Palestinian National Authority. Alwaleed, a nephew of the Saudi king and an investor worth $19 billion as of Forbes 2010 World’s Billionaires List, owns a 33% stake (through his Kingdom Holding Company) in Movenpick’s management arm. (The picture above with Palestinian National Authority President Mahmoud Abbas was taken during an earlier visit with Alwaleed.)