• Nov 23, 2010
The dust is beginning to settle around the General Motors IPO, and we're finally getting a sense of exactly who is holding onto big slices of the company. The New York Times is reporting that Saudi Prince Walid bin Talal has managed to snag a full one percent of the automaker with a massive $500 million investment. The prince has a long history of backing various American companies through Kingdom Holdings, including Citigroup. Talal says that in the case of The General, he has faith that the company's new management can pull off respectable growth and profits.
The prince calls King Abduallah uncle, and while he isn't likely to ever ascend to the country's throne, odds are he wouldn't want to even if he had the chance. Last we heard, the guy was worth somewhere in the neighborhood of $20 billion thanks to his successful investments.

[Source: The New York Times | Image: Rabih Moghrabi/AFP/Getty]


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  • 50 Comments
      • 4 Years Ago
      Eh, I say whatever. I'm glad the company is getting investors. He's unlikely to be in a position to affect policy so that's even better.

      And I'm just gonna say it...all these dudes look incredibly shady.
        • 4 Years Ago
        must be the....shades.
        • 4 Years Ago
        1% could be in a position to affect policy depending on the size of the other stakeholders.

        I don't know much about this guy's holdings, but it says that he is involved with the Saudi Royal family, a major world oil supplier. I wonder if there could be a conflict of interest when developing non-petroleum powered vehicles?
        • 4 Years Ago
        @dystroglycan

        Yeeeeaaaaaaaaaaaaahhh!
      • 4 Years Ago
      Racist**
        • 4 Years Ago
        ok really? hey Autoblog can we get a new comment system for Christmas?????
      • 4 Years Ago
      very good news for GM.



      why all the hate this guy is actually very good business man

      charlie rose one hour interview with prince alwaleed
      http://www.charlierose.com/view/interview/10825
      • 4 Years Ago
      A great reason not to buy a GM made car, usually people avoid them because they are crappy and made by unions or because they get 2 MPG. But there's a much better reason.
        • 4 Years Ago
        Dude you really are a moron.
        • 4 Years Ago
        Foreigners invest in virtually all our major companies because they're all public, and we invest in foreign companies all over the world with our money too. Since you're insanely paranoid I guess you better go hide in a hole somewhere. Make sure not to eat any food either because foreigners would profit if you ever ate anything. I guess you have to go hide in the forest and scrounge for food-just make sure not to eat the red berries and to pick the right mushrooms. Have fun with that.
        The rest of us will drive our cars, and while foreigners might make money when we buy a GM car, or a Ford, or a Toyota, or a Hyundai, or a Chrysler (they're all public companies so people all over the world have stakes in them) we'll happily make money because we either own stocks in foreign companies or own stocks in companies that do business in foreign countries. And we'll eat delicious food from all over the world while you enjoy your poisonous berries.
        • 4 Years Ago
        And, he's the 2nd largest stockholder in Newscorp, behind Rupert Murdoch. So if you're not going to buy from GM because of him, make sure you don't read the Wall Street Journal or watch Fox either, because he owns about 7% of them. Not to mention Euro Disney. He owns a big share of that too.
        • 4 Years Ago
        Sea Urchin, usually I don't agree with the vast majority of things you say or type into AB and in this particular instance, I absolutely still don't agree with your comments. LOL Sorry were you looking for support? ROFL

        Anyway, I do understand your fundamental idea that is you buy a GM product, you'd in fact be supporting the owners of the company. In this case GM is 1% owned by a Saudi Prince! The word Saudi is probably what got ya and I do get it, BUT what did this specific guy ever do to anyone? I've never heard of anything! So let em be dude! He's just as human as the rest of us.

        Now with that said, GM is something like 17% owned by foreign countries! Specifically countries which don't share the same values and or beliefs that US folks do! That's not necessarily a bad thing but when so much blood has been shed over differences in values and beliefs, one must consider the ramifications of foreign ownership of something so fundamentally necessary if the US should ever need the related resources and manufacturing ability to defend itself. One bad seed in the mix can change everything and that's the part that has me worried! All it takes is one rogue persons that works the line with access to something such as a computer module for a tank or aircraft that's augmented by a script to stop working at such and such a date and viola, you've got a compromised defense system!

        So in short, I see what you're saying, but this guy isn't the enemy! It's the establishment which he resides which you have a problem with. Which that in itself is probably based on misinformation.

        We all need to remember one big thing. Very few of us actually have a problem with anyone in any country! It's the countries, religions and economies that divide us all. If it weren't for these things that are mental boxes that help us generalize cultures and ideas which are not our own, well, then, we'd look at individuals for whom they are instead of wrapping them in a box with the "rest of them" or the "one guy in a million" that does something bad. To me, this guy is harmless, UNLESS he did something apprehensible. Until that news comes out, then I'm okay with it....
        • 4 Years Ago
        lol @ Sea Urine.

        Do yourself a favor. Never look into who holds what percent of X company. Your little head might explode.
        • 4 Years Ago
        @ Android

        This is from Wiki

        "In 2002, Al-Waleed donated 18.5 million British pounds ($27 million) to the families of Palestinians during a TV telethon following Israeli operations in the West Bank city of Jenin. The telethon was ordered by Saudi King Fahd to help relatives of Palestinian martyrs. The Saudi government maintained the term "martyrs" referred not to suicide bombers but to "Palestinians [who are] victimized by Israeli terror and violence."["

        Of course this guy denies that martyr mean an s-bomber, but we all know that he supports them. For me this alone is a reason not to buy a GM car. By the way, what country were most 9/11 hijackers from, Poland? Is Bin laden French? You do realize that Al queda in Iraq is financed by Saudis.....not Iranians.


        Dude, by far most $$$ for terrorism around the world comes from S Arabia in one form or another. There's a direct link with S Arabia and Chechen, Pakistani, Philippine and other terror groups.

        I do not want to be the guy who supports these organizations. So I will not buy a GM car. My money, my choice.
        • 4 Years Ago
        I vote Sea Urine jumps off a cliff.
        • 4 Years Ago
        Sea Urine... you are a dumbass.
        • 4 Years Ago
        well the canadian government also ownes shares, which means it is owned by Queen Elizabeth II, and many of gm's cars are made in canada too, that doesn't stop people buying them.
        • 4 Years Ago
        People from other countries invest in virtually all our major companies because they're all public, and we invest in foreign companies all over the world with our money too. Since you're so paranoid I guess you better go hide in a hole somewhere. Make sure not to eat any food from supermarkets because foreigners would profit if you ever ate anything sold there. I guess you have to go hide in the forest and scrounge for food-just make sure not to eat the red berries and to pick the right mushrooms. Have fun with that.
        The rest of us will drive our cars, and while people from other countries make money when we buy a GM car, or a Ford, or a Toyota, or a Hyundai, or a Chrysler (they're all public companies so people all over the world have stakes in them) we'll happily make money because we either own stocks in foreign companies or own stocks in companies that do business in foreign countries. And we'll eat delicious food from all over the world while you enjoy your poisonous berries.
        • 4 Years Ago
        @ rllama, i have not watched Fox in last 2 years, so there.

        @ Dr. Greenthumb, back up your statement, do i have to be a sheep like you and buy a car that is made by thugs and criminals and owned by this shmuck?
        • 4 Years Ago
        Maybe once a commenter achieved the impressive benchmark of over 24,000 down votes on this blog, perhaps it's time to move on.

        OK, urchin, now say more crazy things please...
        • 4 Years Ago
        I agree with Sea Urchin. What is up with all you Politically Correct AB posters? Trying to turn this guy into some kind of saint. This PC attitude towards everyone and everything is a major contributor to the downfall of the United States.
        • 4 Years Ago
        YOU REALLY NEED TO GET A GRIP ON LIFE
        • 4 Years Ago
        Raciest much?
        • 4 Years Ago
        Sea Urchin.... Well if that's true, then shame on him! For real! I'm not here defending the guy! It's merely a matter of convicting a guy with evidence, which you didn't show!

        Maybe your post could have been more like "Given this guys history of X, Y and Z I feel at odds with making him richer by purchasing anything from a company he owns part of.. "

        And I don't think you were being racists as some here have said. I think you were being Patriotic and Demographically biased! Which I am too! Just sayin...

        @Wujuboy

        About the PC attitude! I'm personally never PC. It's about realizing that everything you know and I know COULD be wrong. That we COULD be the aggressor! How would you know? Because you saw it on TV? Read it on a blog?

        I just think of the ultimate goal! The ultimate scenario! Peace! Why not? Is there anything wrong with it?

        Ya know. Everyone looks at the dramatic actions of "them". But did it ever dawn on anyone that these "actions" could be REACTIONS to other's actions? Meaning, all these morons that suicide bomb could be really pissed off that someone is stealing their stuff? I'm far from being sympathetic. It's survival of the fittest! But for God's sake, when you walk into a man's home and steal his bread and he punches you really hard, don't complain because you're the one with your hand in his oven! We reap what we sow dude! Reap what we sow!

        Now if everyone, including the US stopped robbing each other and killing each other for STUFF, then we just might be able to have a peaceful place for everyone! That's not PC. That's the closest thing to reality and truth that you're ever going to find.

        I think John Lennon said it best when he said "Imagine". Listen to it a few times in a row and think about it!
      • 4 Years Ago
      Wiki says he owns part of this web-site, AOL

      Better stop reading then!
      • 4 Years Ago
      Just 1% of GM... I know he has a bigger stake in Audi :)
        • 4 Years Ago
        That was my failed attempt at humor...
        www.youtube.com/watch?v=lqJDuZIcQ34
      • 4 Years Ago
      He just wants a discount on the next Aveo
      • 4 Years Ago
      oooooooookay
      • 4 Years Ago
      Won't be long before his $500 million is worth $200 million or less......
        • 4 Years Ago
        people with 20 billion dollars tend to think about it a min before making investments....i think he will be fine
      • 4 Years Ago
      This Sheik is so rich, he has his own these song

      Can you guess what it is?

      I know you know it.




      http://www.youtube.com/watch?v=bcuAw77J8_Y

      bam.
      • 4 Years Ago
      And then the sky will collapse and hell will be upon the earth!
      • 4 Years Ago
      nice to see someone has faith in GM, now what are those cool hats called?
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