Company Insights Kingdom Holding Company Banking & Finance Kingdom Holding Company Overview Kingdom Holding Company is a Saudi conglomerate headquartered in Riyadh. It was founded and is chaired by Prince Al-Waleed bin Talal and has a large global presence. Kingdom Holding Company is publicly traded on the Saudi Stock Exchange and is well known for its broad investments in a variety of sectors. Its investment portfolio spans financial services, real estate, tourism, media, entertainment, petrochemicals, aviation and technology. Some of its key tourism investments include Four Seasons Hotels & Resorts, Fairmont Raffles Swissotel and 100 percent ownership of Hotel George V in Paris. In the education and healthcare sectors, it owns Kingdom Schools and Kingdom Hospital-Consulting Clinics. Its media and entertainment holdings in the Mena region include Rotana Group and Lebanese Broadcasting Corporation. Kingdom Holding Company has made strategic investments in a number of global firms, including 21st Century Fox, JD.com, Amazon, Apple, X (Twitter) and Citigroup. It has also invested heavily in enterprises including Samba (Saudi American Bank) and Marvel Comics. KHC’s global influence has expanded in recent years as it has actively invested in Sub-Saharan Africa through its Kingdom Africa Management subsidiary. In May 2024 it helped Elon Musk’s artificial intelligence startup xAI to secure $6 billion in a series B funding round. It is also undertaking ambitious projects such as the Jeddah Tower, which aims to be one of the world’s tallest structures. Kingdom Holding Company News Artificial Intelligence Oman buys stake in Elon Musk’s AI company The Oman Investment Authority (OIA), the sultanate’s sovereign wealth fund, has acquired a stake in xAI, the artificial intelligence company founded by Elon Musk, the world’s richest man. The deal was announced on Wednesday by the Omani state news agency but the size of the investment was not disclosed. Musk, who is worth around $486 […] December 18, 2024 Analysis Entrepreneurs What next for Kingdom Holding’s $2bn X investment? When Elon Musk took ownership of Twitter in 2022 for $44 billion, he did so with the help of Saudi Arabia’s Prince Alwaleed bin Talal and his Kingdom Holding, which put up nearly $2 billion of the price, and the Qatar Investment Authority, which handed over $375 million. The investment made the Saudi company the […] November 25, 2024 Economy Billionaires in UAE rise as Saudi numbers drop The number of billionaires in the UAE increased in the last year as the amount of super-wealthy residents in neighbouring Saudi Arabia dropped. Forty-eight billionaires lived in the UAE in 2023, with a combined wealth of $205 billion, a year-on-year increase of 7 percent. Dubai made up 39 of that total and welcomed one extra […] November 24, 2024 Real Estate Kingdom Holding’s profit rises 36% to $319m Kingdom Holding Company (KHC), founded by Saudi billionaire Prince Alwaleed Bin Talal and the developer behind what will be the tallest tower in the world, said nine-month 2024 net profit jumped 36 percent to SAR1.2 billion ($319.4 million) from SAR856 million a year ago. The higher profit was driven by an increase in the share […] November 7, 2024 Real Estate Work to resume on world’s tallest tower in Saudi Arabia Construction is to resume on the world’s tallest tower in Jeddah, Saudi Arabia, which will be over one kilometre high when completed. Jeddah Economic Company (JEC), an associate of Kingdom Holding Company (KHC) chaired by Prince Alwaleed Bin Talal, has reached an agreement with Saudi Binladin Group to continue developing the Jeddah Economic Company Tower, KHC […] October 3, 2024 Construction Three Saudi companies acquire fund behind world’s tallest tower The Saudi Arabian fund behind what will be the tallest tower in the world has been acquired in a $1.8 billion (SAR6.8 billion) deal. Kingdom Holding Company, Sumuo Holding Company and Jeddah Economic Company (JEC) have signed an agreement to take ownership of the Al Inma Jeddah Economic Fund, which is currently wholly owned by […] July 22, 2024 Artificial Intelligence Prince Alwaleed part of Elon Musk’s $6bn AI funding round Elon Musk’s artificial intelligence startup xAI has secured $6 billion in a series B funding round led by investors including Saudi billionaire Prince Alwaleed Bin Talal and his investment firm Kingdom Holding Company. The round, which also included investments from Dubai-based Vy Capital and US companies Andreessen Horowitz and Sequoia Capital, will assist the commercial […] May 28, 2024 Leisure & Hospitality Kingdom Holding plans $267m dividend despite profit drop Kingdom Holding Company (KHC) plans to distribute a dividend of more than SAR1 billion ($267 million) for 2023 despite profits falling by 85 percent. The board of the investment company, founded by Saudi billionaire Prince Alwaleed Bin Talal, proposed a 2.8 percent cash dividend, totalling SAR1.03 billion, for 2023, subject to shareholders approval. Net profit […] March 27, 2024 Giga-projects Red Sea Global secures $522m for Four Seasons Resort Saudi giga-project developer Red Sea Global (RSG) has secured SAR2 billion ($522 million) from Riyad Bank for its latest tourism project in the Red Sea development. The financing will be used to develop Four Seasons Resort, part of a joint venture between RSG and Kingdom Holding Company, which was incorporated in December 2023. The Four […] February 12, 2024 Leisure & Hospitality Kingdom Holding, Red Sea Global set up JV to develop $533m resort Saudi-listed Kingdom Holding Company said that it has incorporated a new joint venture with Public Investment Fund-backed Red Sea Global Company to develop a tourist resort in the kingdom. East Shoura III Real Estate Company is the new venture between Kingdom Holding’s wholly-owned subsidiary, Sea Front Company, and RSG’s Red Sea Investment Co. II subsidiary. […] December 25, 2023 Posts navigation 1 2 Next
Artificial Intelligence Oman buys stake in Elon Musk’s AI company The Oman Investment Authority (OIA), the sultanate’s sovereign wealth fund, has acquired a stake in xAI, the artificial intelligence company founded by Elon Musk, the world’s richest man. The deal was announced on Wednesday by the Omani state news agency but the size of the investment was not disclosed. Musk, who is worth around $486 […] December 18, 2024
Analysis Entrepreneurs What next for Kingdom Holding’s $2bn X investment? When Elon Musk took ownership of Twitter in 2022 for $44 billion, he did so with the help of Saudi Arabia’s Prince Alwaleed bin Talal and his Kingdom Holding, which put up nearly $2 billion of the price, and the Qatar Investment Authority, which handed over $375 million. The investment made the Saudi company the […] November 25, 2024
Economy Billionaires in UAE rise as Saudi numbers drop The number of billionaires in the UAE increased in the last year as the amount of super-wealthy residents in neighbouring Saudi Arabia dropped. Forty-eight billionaires lived in the UAE in 2023, with a combined wealth of $205 billion, a year-on-year increase of 7 percent. Dubai made up 39 of that total and welcomed one extra […] November 24, 2024
Real Estate Kingdom Holding’s profit rises 36% to $319m Kingdom Holding Company (KHC), founded by Saudi billionaire Prince Alwaleed Bin Talal and the developer behind what will be the tallest tower in the world, said nine-month 2024 net profit jumped 36 percent to SAR1.2 billion ($319.4 million) from SAR856 million a year ago. The higher profit was driven by an increase in the share […] November 7, 2024
Real Estate Work to resume on world’s tallest tower in Saudi Arabia Construction is to resume on the world’s tallest tower in Jeddah, Saudi Arabia, which will be over one kilometre high when completed. Jeddah Economic Company (JEC), an associate of Kingdom Holding Company (KHC) chaired by Prince Alwaleed Bin Talal, has reached an agreement with Saudi Binladin Group to continue developing the Jeddah Economic Company Tower, KHC […] October 3, 2024
Construction Three Saudi companies acquire fund behind world’s tallest tower The Saudi Arabian fund behind what will be the tallest tower in the world has been acquired in a $1.8 billion (SAR6.8 billion) deal. Kingdom Holding Company, Sumuo Holding Company and Jeddah Economic Company (JEC) have signed an agreement to take ownership of the Al Inma Jeddah Economic Fund, which is currently wholly owned by […] July 22, 2024
Artificial Intelligence Prince Alwaleed part of Elon Musk’s $6bn AI funding round Elon Musk’s artificial intelligence startup xAI has secured $6 billion in a series B funding round led by investors including Saudi billionaire Prince Alwaleed Bin Talal and his investment firm Kingdom Holding Company. The round, which also included investments from Dubai-based Vy Capital and US companies Andreessen Horowitz and Sequoia Capital, will assist the commercial […] May 28, 2024
Leisure & Hospitality Kingdom Holding plans $267m dividend despite profit drop Kingdom Holding Company (KHC) plans to distribute a dividend of more than SAR1 billion ($267 million) for 2023 despite profits falling by 85 percent. The board of the investment company, founded by Saudi billionaire Prince Alwaleed Bin Talal, proposed a 2.8 percent cash dividend, totalling SAR1.03 billion, for 2023, subject to shareholders approval. Net profit […] March 27, 2024
Giga-projects Red Sea Global secures $522m for Four Seasons Resort Saudi giga-project developer Red Sea Global (RSG) has secured SAR2 billion ($522 million) from Riyad Bank for its latest tourism project in the Red Sea development. The financing will be used to develop Four Seasons Resort, part of a joint venture between RSG and Kingdom Holding Company, which was incorporated in December 2023. The Four […] February 12, 2024
Leisure & Hospitality Kingdom Holding, Red Sea Global set up JV to develop $533m resort Saudi-listed Kingdom Holding Company said that it has incorporated a new joint venture with Public Investment Fund-backed Red Sea Global Company to develop a tourist resort in the kingdom. East Shoura III Real Estate Company is the new venture between Kingdom Holding’s wholly-owned subsidiary, Sea Front Company, and RSG’s Red Sea Investment Co. II subsidiary. […] December 25, 2023
