The Terry Fox Run is an annual non-competitive charity event held around the world to raise money for cancer research in commemoration of Canadian cancer activist Terry Fox and his Marathon of Hope .
60-465: The event was founded in 1981 by Isadore Sharp , who had contacted Terry in hospital by telegram and expressed his wishes to hold an annual run in Terry's name to raise funds for cancer research. Sharp had lost his son to cancer in 1979. The event is held every year on the second Sunday following Labour Day . Since its inception, it has raised via the 'Terry Fox Foundation' over $ 750 million ( CAD ). The run
120-546: A "deliberately insulting and inaccurate description of the business community in Saudi Arabia and specifically, Forbes ' denigration of the Saudi stock exchange ( Tadawul ), which is one of the most regulated in the world". According to Al Waleed, the magazine used an "irrational and deeply flawed valuation methodology, which is ultimately subjective and discriminatory". On 16 June 2015, Forbes and Al Waleed released
180-487: A "more than 3% share" in the company, which was valued at $ 8 billion in late summer 2011. In 2015, he announced that he would donate his fortune to charity at an unspecified date. He had previously donated $ 3.5 billion over the course of 35 years through his charitable organization Alwaleed Philanthropies. From 2015 to 2021, he lost several lawsuits against Pierre El Daher , CEO of LBCI, and would be required to pay $ 22m, due to breaches in contract conditions with
240-672: A 22 percent stake in the Four Seasons. In 1995, he bought a 42 percent stake in the Plaza Hotel, and it was reported that he was working on a music channel for his satellite TV platform. Then, in 1996, he bought the George V for $ 185 million, and spent $ 120 million renovating it for a reopening in Dec 1999. Regarding Al Waleed's investment in the George V, Issy Sharp states, "...he created value where no one else could..." In
300-601: A 4 percent stake in Planet Hollywood for $ 57 million, and another 16 percent in November, 1998 for $ 45 million. In Oct. 1997, Al Waleed bought 27 percent of Mövenpick Hotels & Resorts , which he increased to 33 percent in 2003. In 1999, The Economist expressed doubts about the source of his income, wondering if he was a front man for other Saudi investors: He has not earned enough income from his investments to pay for all that he has spent in
360-501: A TV telethon ordered by Saudi King Fahd to help relatives of Palestinians after Israeli operations in the West Bank city of Jenin . In 2004, he contributed $ 17 million to victims of the 2004 Indian Ocean earthquake and tsunami . On 1 July 2015, Al Waleed held a press conference announcing his intention to donate $ 32 billion to philanthropic causes. He said that the funds would be used for humanitarian projects such as
420-586: A correlation between changes in the share price of Kingdom Holdings and the annual run-up to the list's publication. In the Forbes article, Dolan wrote that Al Waleed would blind copy Dolan on text messages he sent to prominent people in an attempt to impress her. She spent a week with him in Riyadh in 2008, at his behest, touring his palaces. In 2006 Forbes estimated Al Waleed's net worth at $ 7 billion less than he claimed. He telephoned Dolan at home, according to
480-758: A criminal attack. I believe the government of the United States of America should re-examine its policies in the Middle East and adopt a more balanced stance toward the Palestinian cause." As a result of that statement, Giuliani returned his cheque. Al Waleed said to a Saudi weekly magazine about Giuliani's rejection of his check, "The whole issue is that I spoke about their position [on the Middle East conflict] and they didn't like it because there are Jewish pressures and they are afraid of them." Giuliani replied to this by suggesting that Al Waleed's comment
540-561: A five percent share of Netscape for $ 146 million, before its purchase by AOL and merger with Time Warner . In 2001 and 2002, Al Waleed increased his stake in AOL Time Warner by another $ 540 million. He also invested in MCI , Fox Broadcasting and other technology and media companies. Time reported in 1997 that Al Waleed owned about five percent of News Corporation , which he purchased for $ 400 million, making him
600-489: A five-year convertible security paying 11 percent interest. By Feb., that took his total investment in Citicorp to $ 797 million, or about 15 percent of the company. Though he had received a Federal Reserve temporary waiver to own such a large portion of the company, Al Waleed sold enough shares in 1993 to get below the 10 percent threshold. Still, he was the largest shareholder in the largest US financial institution at
660-497: A joint statement announcing that they had settled their dispute "on mutually agreeable terms". The opening of the Saudi stock exchange to foreign investors was cited as key in the defendants' willingness to consider the stock price of Al Waleed's publicly traded Kingdom Holding Company in valuing the KHC component of his wealth. Al Waleed tweeted a statement with a picture of himself holding an honorary Palestinian passport, "In response to
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#1732776497382720-789: A large mid-east media company. In August 2011, Al Waleed announced that his company had contracted with the Saudi Binladin Group to build the world's tallest building , the Kingdom Tower (at a height of at least 1,000 metres (3,300 ft)) for SR 4.6 billion. The original plan—announced in 2008—called it برج الميل (Arabic for "One-Mile Tower"), at a height of 1,609 metres (5,279 ft) and an estimated cost of $ 20 billion. In December 2011, Al Waleed invested $ 300 million in Twitter, purchasing secondary shares from insiders. The purchase gave Kingdom Holding
780-520: A manly leg wax, and recruit friends to shave their heads as well. Isadore Sharp Isadore "Issy" Sharp , OC (born October 8, 1931) is a Canadian hotelier and philanthropist. He is founder and chairman of Four Seasons Hotels and Resorts . He organized the Terry Fox Run . Sharp was born in Toronto, the son of Polish Jewish immigrants. His father, Max, a devout Torah scholar,
840-1010: A multi-billion-dollar empire. Nevertheless, by 1991 Prince Alwaleed had felt able to risk an investment of $ 797m in Citicorp. Al Waleed invested in WorldCom , Priceline.com , Coca-Cola , and Ford Motor Company , totaling almost $ 2 billion. In Asia, he bought 5.9 percent of Daewoo for $ 50 million, which he increased to 18 percent with an additional $ 100 million investment, 3 percent of PROTON Holdings for $ 46 million, 3 percent of Ong Beng Seng 's Hotel Properties Ltd., and $ 50 million worth of Hyundai Motor Company bonds . In Africa, he invested $ 50 million, acquiring 10 percent of Sonatel , 10 percent of Ecobank , 13.7 percent of United Bank for Africa , and 14 percent of CAL Bank . Investments which turned out poorly included WorldCom, Priceline, Teledesic , and KirchMedia , besides Planet Hollywood and Euro Disney. His stake in Apple
900-426: A process which resulted in the use of incorrect data and seemed designed to disadvantage Middle Eastern investors and institutions." Al Waleed said in a March 2013 interview with The Sunday Telegraph that he would pursue legal action against Forbes . "They are accusing me of market manipulation ," Al Waleed said. "This is all wrong and a false statement. We will fight it all the way against Forbes ." He called
960-521: A stake in the project. His first success was in 1982, partnering with a South Korean construction company, and from then on, his commissions were used to fund his real estate deals. In his own words, "All the money I used to get from this construction I would plough back into real estate, and in the stock market, both." After the end of the Saudi oil boom, Al Waleed acquired the underperforming United Saudi Commercial Bank (USCB). Through mergers with Saudi Cairo Bank (SCB), forming United Saudi Bank (USB), and
1020-913: A time, sleeping in unlocked cars, before attending the King Abdulaziz Military Academy in Riyadh. In 1974, he returned to Lebanon, attending the Choueifat School and then Manor School. Al Waleed received a bachelor's degree in business administration from Menlo College in California in 1979, finishing in two-and-a-half years, and a master's degree with honors in social science from the Maxwell School of Citizenship and Public Affairs at Syracuse University in 1985, finishing in eleven months. Al Waleed began his business career in 1979 after graduating from Menlo College . He returned to Saudi Arabia, which
1080-437: Is a Saudi Arabian billionaire businessman, investor, philanthropist, and a House of Saud royal. In 2008, he was listed on Time magazine's Time 100 , an annual list of the hundred most influential people in the world. Al Waleed is a grandson of Abdulaziz , the first king of Saudi Arabia , and of Riad Al Solh , Lebanon 's first prime minister . Al Waleed is the founder, chief executive officer and 95 percent owner of
1140-495: Is informal which means that the distance often varies, usually between 5 and 15 kilometres; participation is considered to be more important than completing the set distance. There are also runs set up by schools of every level, often with shorter distances than the "official" ones. The Terry Fox Run has no corporate sponsorship, in accordance with Terry Fox's original wishes of not seeking fame or fortune from his endeavour. During his cross-Canada run, he rejected every endorsement he
1200-555: The Arab Radio and Television Network , acquiring 30 percent. In Oct. 1995, Al Waleed joined a consortium which paid $ 1.2 billion for control of Canary Wharf, with his share of the company amounting to 6 percent, costing him $ 66 million. In March 1997, Al Waleed purchased a 5 percent stake in Apple Inc. , making him the largest shareholder. In Nov. 1997, he purchased 1 percent share of Motorola for $ 287 million and
1260-457: The Forbes list "flawed and inaccurate", saying that it "displays bias against Middle East investors and financial institutions." The Guardian reported that on 6 June 2013, Al Waleed had brought a defamation claim in London against the publisher of Forbes ; its editor, Randall Lane , and two journalists from the magazine. Forbes expressed surprise at the libel action and the fact that it
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#17327764973821320-640: The Hebrew University of Jerusalem . The Sharps are spearheading a proposal to build a Jewish Museum of Canada in Toronto and have pledged $ 20 million towards the project, towards a total fundraising goal of $ 150 million. The museum is to feature three themed galleries with artifact and multimedia-based interactives and three immersive environments entitled: Jewish Experience, Jewish Life in Canada and The Neuberger Holocaust Education Centre. Sharp married his high school sweetheart, Rosalie Wise, who
1380-494: The Kingdom Holding Company , a company with investments in companies in the financial services, tourism and hospitality, mass media, entertainment, retail, agriculture, petrochemicals, aviation, technology, and real-estate sectors. In 2013, the company had a market capitalization of over $ 18 billion. He owns Paris' Four Seasons Hotel George V and part of New York's Plaza Hotel . Time has called him
1440-840: The Saudi American Bank (SAMBA), it became a leading Middle Eastern bank. The hostile takeover of USCB in 1986, the merger with SCB in 1997, and the merger of USB with SAMBA in 1999, were the first of their kind in the Kingdom. He then secured a majority in Al-Azizia Panda , merging it with the Savola Group , and took over National Industrialization Company. By 1989, his net worth was $ 1.4 billion, and included stakes in Canary Wharf , Four Seasons Hotel Group , and News Corporation. When Al Waleed turned to
1500-658: The "Arabian Warren Buffett ". In November 2017, Forbes listed Al Waleed as the 7th-richest man in the world, with a net worth of $ 39.8 billion. On 4 November 2017, Al Waleed and other prominent Saudis (including fellow billionaires Waleed bin Ibrahim Al Ibrahim and Saleh Abdullah Kamel ) were arrested in Saudi Arabia , in a purge that the Saudi government characterized as an anti-corruption drive. The allegations against Al Waleed include money laundering, bribery, and extorting officials. Some of
1560-726: The 100 Saudi [fighter] pilots". In July 1997, Al Waleed invested $ 10 million with the Palestinian Investment and Development Company (PADICO), and then helped cofound the Jerusalem Development and Investment Company (JEDICO). In 2002, Al Waleed donated $ 500,000 to help fund the George Herbert Walker Bush scholarship at Phillips Academy in Andover, Massachusetts . He donated £18.5 million to Palestinian families during
1620-455: The 1990s. The mystery goes back to that first stake in Citicorp. The prince has declared that this money came entirely from his personal funds. He says he started out in 1979 with a loan of just $ 30,000 from his father. He also mortgaged a house that his father had given him, raising something like $ 400,000. And each month, as a grandson of Ibn Saud, he receives $ 15,000. You could barely clothe a Saudi prince for such sums, let alone furnish him with
1680-531: The Lebanese broadcaster. In May 2022, he was listed as committing to purchase approximately 35 million shares of Twitter Inc. at or immediately prior to the purchase of Twitter by Elon Musk and other private-equity investors behind Musk's bid. On 4 November 2017, Al Waleed was one of those arrested in Saudi Arabia in a "corruption crackdown" conducted by a new royal anti-corruption committee. In total, 320 princes, ministers and businessmen were detained at
1740-684: The Plaza in August 2004. He has invested in London's Savoy Hotel and Monaco's Monte Carlo Grand Hotel. Al Waleed holds a ten-percent stake in Euro Disney S.C.A. , the company which owns, manages and maintains Disneyland Paris in Marne-la-Vallée . The 2004 Forbes list of wealthiest people had Al Waleed fourth, with a net worth of $ 21.5 billion. More than $ 1.3 billion was in hotel holdings. In January 2005, Al Waleed purchased
1800-541: The Saudi government before they were released. In his case, as in the case of most of the other detainees, the Saudi Arabian government did not disclose charges or produce evidence, and the negotiations were held in secret. In December, some weeks after the arrests, it was reported that the Saudi Arabian authorities were demanding $ 6 billion from Prince Al Waleed bin Talal in exchange for his release. Al Waleed
1860-522: The Saudi government in the past) and invited him to return to the Kingdom to contribute to Mohammad bin Salman's vision. In 2013, Kerry Dolan , editor of Forbes ' annual billionaires' list, wrote an article accompanying the list entitled "Prince Alwaleed and the Curious Case of Kingdom Holding Stock". According to Dolan, Al Waleed attached great importance to the Forbes list and she alleged
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1920-520: The Savoy Hotel in London for an estimated £ 250 million, to be managed by Fairmont Hotels and Resorts ; his sister, Sultana Nurul, owns an estimated 16 percent stake. In January 2006, in partnership with the U.S. real-estate firm Colony NorthStar , Kingdom Holding acquired Toronto -based Fairmont Hotels and Resorts for an estimated $ 3.9 billion. It was reported in 2009 that Al Waleed owned 35 percent of Research and Marketing Group (SRMG),
1980-677: The Terry Fox Foundation. Sharp had a net worth of Can$ 540 million in 2009. In 2009, Sharp summarized his experience and business philosophy in a book Four Seasons: The Story of a Business Philosophy , published by Viking Canada. In 2011, a documentary about Sharp's life and achievements, The Four Seasons of Isadore Sharp , aired on City TV . Al-Waleed bin Talal Al Waleed bin Talal Al Saud ( Arabic : الوليد بن طلال آل سعود ; born 7 March 1955)
2040-564: The bank. Though the worst performing bank of the four, Al Waleed considered Citicorp had the best potential. In Sept. 1990, Citibank was undercapitalized due to real estate credit losses and exposure to Latin America debt, prompting a need for a capital reserve. By Nov. they were actively seeking investors. Based on his banking experience in the Kingdom, Al Waleed agreed in Jan. 1991 to invest $ 590 million, about half his accumulated wealth, in
2100-440: The billionaires' list if Forbes did not increase its valuation of his wealth. Dolan wrote, "As Forbes asked increasingly specific questions in the process of fact-checking this story, the prince acted unilaterally the day before it was published, announcing through his office that he would 'sever ties' with the list." Sanbar said in a press release, "Prince Alwaleed has taken this step as he felt he could no longer participate in
2160-616: The city's Four Seasons hotels for a week before resuming his run, helped pay for his cancer treatment , and later pledged to contribute to research funds on his behalf. Sharp and his wife are prominent Canadian philanthropists, having made significant donations to many sources including the Four Seasons Centre for the Performing Arts , the Ontario College of Art and Design , Mount Sinai Hospital , and
2220-522: The company. He also would be able to realize proceeds from a 1989 incentive plan that would pay him $ 288 million; the company's headquarters would remain in Toronto. Sharp helped start and is the director of the Terry Fox Run . He first met Terry Fox when the latter arrived in Montreal in June 1980 during his trek across the country to raise money for cancer research . Sharp invited Fox to rest in one of
2280-442: The construction business by working for his father. He excelled in sports during his high school years. In 1952, he graduated with high marks from Ryerson Institute of Technology (now Toronto Metropolitan University ) with a diploma in architectural technology. After graduating from Ryerson, Sharp went to work for his father's company full-time as an architect and real estate developer , building apartment buildings and houses. It
2340-532: The detainees were held in the Ritz-Carlton, Riyadh . Al Waleed was released from detention on 27 January 2018, following a financial settlement of some kind, after nearly three months in detention. In March 2018 he was dropped from the World's Billionaires list due to lack of current information. He was listed in the 'Top 100 most powerful Arabs' from 2013 to 2021 by Gulf Business . Al Waleed bin Talal
2400-476: The editor, "nearly in tears". Al Waleed had Kingdom Holding's chief financial officer fly to New York before a previous list was published to ensure that Forbes used his stated numbers. The article explains the methodology behind Forbes ' 2013 estimate of his wealth at $ 20 billion, examines Kingdom Holdings' share performance and contains Dolan's communications with Kingdom Holdings CFO Shadi Sanbar. Sanbar demanded that Al Waleed's name be removed from
2460-408: The empowerment of women and youth, disaster relief, disease eradication and building bridges of understanding between cultures. After the 11 September attacks , Al Waleed gave a cheque for $ 10 million to New York City Mayor Rudy Giuliani , despite Saudi opposition. In a written statement after his donation, Al Waleed said: "At times like this, we must address some of the issues that led to such
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2520-457: The five-star Ritz-Carlton Hotel in Riyadh. This was done on the orders of Crown Prince Mohammad bin Salman , who acted with the aim of consolidating his position as the next ruler of the kingdom. Crown Prince Mohammad bin Salman is Al Waleed's first cousin; both are male-line grandsons of Ibn Saud , first monarch and founder of Saudi Arabia. Al Waleed and most of the other Saudi notables arrested made financial settlements of some kind with
2580-498: The international market, he focused on "established brands going through hard times," as Riz Khan puts it. Al Waleed would do his homework, and then wait for the proper purchase entry point. He invested about $ 250 million in Chase Manhattan , Citigroup , Manufacturers Hanover , and Chemical Bank . After seven months, he sold his stakes in the other banks and concentrated on investing in Citicorp, acquiring 4.9 percent of
2640-637: The news of the visit to Israel: I have not and will not visit Jerusalem or pray inside it until its liberation from the Zionist enemy. And I carry an honorary Palestinian passport". In 2015, Al Waleed was criticised for offering to buy Bentley cars for Saudi fighter pilots involved in the Saudi Arabian-led intervention in Yemen . In a tweet later deleted, he said: "In appreciation of their role in this operation, I'm honoured to offer 100 Bentley cars to
2700-606: The same year, Al Waleed purchased a 24 percent stake in Euro Disney for $ 345 million. In 1995, Kingdom Establishment for Trading and Contracting was reorganized as the Kingdom Holding Company, and Al Waleed announced construction of the Kingdom Centre , Kingdom Hospital, Kingdom School and Kingdom City. Also in 1995, he bought a 2.3 percent share of Mediaset after having invested earlier in
2760-635: The third largest shareholder. In April 1999, Al Waleed purchased an additional $ 200 million of preferred shares. In 2010 his News Corporation stake was about seven percent ($ 3 billion). Three years later News Corporation had a $ 175 million (19-percent) investment in Al Waleed's Rotana Group , the Arab world's largest entertainment company. A review of his holdings implied that Al Waleed had sold his investment in AOL. In April 1997, Al Waleed purchased
2820-598: The time. Yet, in Alwaleed's words, "It is not a relationship, it's an alliance. We are there forever with them." Sandy Weill says of Al Waleed, "I think what he did really saved the bank." In 1993, Al Waleed purchased a 10 percent stake in Saks Fifth Avenue for $ 100 million. A flagship store was then opened in Riyadh. In 1994, Al Waleed secured a 50 percent controlling interest in Fairmont , and
2880-418: The traditional Run as well, by holding various other events. These events include National School Run Day, where schools throughout Canada hold a Run to commemorate Fox and raise funds, and The Great Canadian Hair "Do", which is a fundraising event that can take place at any time of the year. Participants are able to make the event as creative as they want— shave their heads, dye their hair a wacky colour, include
2940-612: The world. The Run is a volunteer led, all-inclusive, non-competitive event with no corporate sponsorship, incentives or fundraising minimums. Fox laid out these wishes before his death in 1981. In 2007 The Terry Fox Foundation created the Terry Fox Research Institute to conduct transnational research to significantly improve outcomes for cancer patients. In the fiscal year ending March 31, 2013, The Terry Fox Foundation directed $ 27.7 million to its cancer research programs. The Terry Fox Foundation has expanded beyond
3000-511: Was 12 years old and Abdulaziz was 45. His maternal grandparents were Riad Al Solh , the first prime minister of Lebanon , and Fayza Al Jabiri, the sister of Syrian Prime Minister Saadallah al-Jabiri . Al Waleed's parents separated when he was seven, and he lived with his mother in Lebanon. He first attended Pinewood College in Beirut. As a boy, he ran away from home for a day or two at
3060-399: Was a Polish Jew who emigrated from Poland to Palestine in 1920 , and finally to Toronto five years later. He worked as a plasterer until his family began to grow with the arrival of Issy and three daughters. His father's expertise was in home renovation and he often renovated homes and resold them for a profit as a real estate investor. During the summers, Sharp would obtain experience in
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#17327764973823120-443: Was actually part of the problem: "There is no moral equivalent for this [terrorist] act. There is no justification for it... And one of the reasons I think this happened is because people were engaged in moral equivalency in not understanding the difference between liberal democracies like the United States, like Israel, and terrorist states and those who condone terrorism. So I think not only are those statements wrong, they're part of
3180-616: Was also of Jewish descent. They had four sons, Jordan, Gregory, Anthony, and Christopher. Christopher, the only one who evinced an interest in going into the family business, died of melanoma in 1978. His death at least partly inspired Sharp to support Fox financially during his run. A Ty Beanie Baby named Issy was produced in 2001 in Christopher's memory. All proceeds from American sales went to Memorial Sloan–Kettering Cancer Center in New York , while all Canadian proceeds went to
3240-517: Was born in Jeddah on 7 March 1955 to Prince Talal bin Abdulaziz and Mona El Solh. His father was Saudi Arabia's finance minister during the early 1960s, before he went into exile due to his advocacy for political reform. Al Waleed's paternal grandparents were King Abdulaziz and Munaiyir. His grandmother, an Armenian , was presented by the emir of Unayzah to King Abdulaziz in 1921, when she
3300-464: Was filed in London. According to the magazine, "The Prince's suit would be precisely the kind of libel tourism that the UK's recently passed libel reform law is intended to thwart. We would anticipate that the London high court will agree. Forbes stands by its story." As of 20 June, Forbes had not been served with papers. A statement issued by the Kingdom Holding Company accused Forbes of publishing
3360-722: Was his work building a small 22-unit motel (Motel 27) on the outskirts of Toronto for family friend, Jack Gould, that was his introduction to the hospitality business. He founded the Four Seasons Hotel in 1960 and opened the first hotel on Jarvis Street in downtown Toronto in 1961. On November 6, 2006, American business magnate Bill Gates , through his holding company Cascade Investments LLC , and Saudi businessman, Prince Al-Waleed bin Talal through his company Kingdom Holding Company made an offer to take Four Seasons Hotels private for US$ 3.4 billion (excluding debt). Sharp would remain chairman and chief executive of
3420-504: Was in the midst of the 1974–85 oil boom . Operating from a small, four-room cabin in Riyadh and $ 30,000 start-up money provided by his father, Al Waleed formed Kingdom Establishment in 1980. When that money ran out in a few months, he secured a $ 300,000 loan from the Saudi American Bank, partly owned by Citibank. Rather than taking a commission for facilitating contracts as the legally required middleman, Al Waleed insisted on
3480-621: Was offered (including from multinational corporations such as McDonald's ), as he felt that it would detract from his goal of creating public awareness. The Terry Fox Runs have no advertisements on any race related materials (such as T-shirts, banners, etc.). The Terry Fox Foundation was founded in 1988 after it separated from the Canadian Cancer Society . Since its inception, The Terry Fox Foundation has raised over $ 800 million for cancer research. Currently, Terry Fox Runs take place every year with many participants from all over
3540-595: Was released from detention in late January 2018, nearly three months after his arrest. According to a Wall Street Journal report, the price for his release was $ 6 billion. In comparison, his first cousin Prince Mutaib bin Abdullah , son of the late King Abdullah (1924–2015), was released after reportedly paying $ 1 billion. Just days before his arrest, Al Waleed reportedly contacted US-based Saudi journalist Jamal Khashoggi (who had publicly criticized
3600-567: Was sold in 2005. Al Waleed also invested in Eastman Kodak and TWA , both of which performed moderately well. In 2002, Al Waleed formed Kingdom Hotel Investments to oversee his hotel assets. By 2003, Al Waleed owned 100 percent of Rotana, and 49 percent of LBC Sat . His real-estate holdings included large stakes in the Four Seasons Hotels and Resorts and New York's Plaza Hotel ; Al Waleed sold half his shares in
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