Saudi Prince sues Forbes

An official at the High Court in London confirmed that Prince Alwaleed had filed a defamation suit against Forbes, its editor Randall Lane, and two of its journalists on April 30.

Through his Kingdom Holding Company, Prince Alwaleed owns large stakes in Citigroup, News Corp. and Apple Inc., among other companies. He is also owner or part-owner of luxury hotels including the Plaza in New York, the Savoy in London and the George V in Paris.

Despite the hullabaloo, Forbes is sticking to its guns stating there is a serious lack in transparency in the way Kindom holiding values its assets.

We know exactly how Prince Waleed feels. Nothing annoys us more than when people undervalue our billions..