Billionaire Saudi Prince Sues 'Forbes'

Jun 10, 2013
Originally published on June 10, 2013 6:38 am
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LINDA WERTHEIMER, HOST:

And our last word in business today is: Billionaire undervalued.

Saudi prince and conspicuous billionaire Alwaleed bin Talal is suing Forbes magazine in a London court.

RENEE MONTAGNE, HOST:

Forbes' annual list of the world's wealthiest people estimates bin Talal's fortune at $20 billion. But the prince says the magazine publicly shortchanged him by nearly $10 billion.

WERTHEIMER: Bin Talal, who is a part owner of Citibank, News Corps and Twitter, accuses the money magazine of bias against Middle Eastern businesses - a compliant he's made in the past. The prince showed up in the 26th spot on the Forbes' list, tied with two others.

MONTAGNE: By prince's count, he says should be 10th on the list, beating out French business billionaire Bernard Arnault - who only has $29 billion to his name.

And that's the business news on MORNING EDITION from NPR News. I'm Renee Montagne.

WERTHEIMER: And I'm Linda Wertheimer.

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