Alwaleed’s relationship with Citigroup dates back to 1991, when he invested $590 million to become the bank’s largest shareholder. In 2007, he teamed up with Gates’s Cascade Investment LLC to take the Four Seasons hotel chain private for about $3.8 billion. Today each holds a 45 percent stake. Alwaleed also joined forces with Gates on public-health initiatives and the Breakthrough Energy Coalition -- a group of wealthy investors who pledged to direct a large portion of their fortunes toward energy technology.
Yet even Gates could only say so much.
“I’m only aware of what I’ve read in the press, and I can’t speculate,” he said in his emailed statement. “Prince Alwaleed has been an important partner in my foundation’s work to ensure that kids around the world receive life-saving vaccinations. We’ve worked together to help stop the spread of polio, measles and other preventable diseases. His commitment to philanthropy is inspiring.”
This article was provided by Bloomberg News.