Outraged Saudi Prince sues Forbe's magazine over its annual rich list: claims it undervalued his wealth by $9.6bn.

Outraged Saudi Prince sues Forbe's magazine over its annual rich list: claims it undervalued his wealth by $9.6bn.

VicesJune 07, 2013

There is some good news for Prince Alwaleed bin Talal, Rooster has officially moved the Saudi prince to number one on our smallest penis list. Originally, the prince was listed fourth behind Kayne West, Lou Dobbs and Hillary Clinton, but this lawsuit has all but guaranteed Prince Alwaleed bin Talal barring the next from Jose Canseco. 

Via The Guardian- Saudi Arabia’s Prince Alwaleed bin Talal, one of the world’s wealthiest businessmen who owns assets including London’s Savoy hotel, has launched a libel action against the business magazine Forbes over claims it underestimated his fortune by $9.6bn. Alwaleed, who is often described as the most influential businessman in the Middle East, vowed to sever ties with Forbes in March when its coveted annual Rich List valued him at $20bn – placing him as the 26th most wealthy billionaire on the planet. The prince insisted he was worth closer to $30bn and accused the respected US magazine of being “demonstrably biased” against Saudi Arabian firms. Now Alwaleed has taken his complaints about the magazine to the high court in London, filing a defamation claim against the Forbes publisher, its editor Randall Lane and two of its journalists, according to court documents seen by the Guardian. Through his Saudi-based investment vehicle, Kingdom Holding, Alwaleed owns large stakes in Apple, Twitter and Rupert Murdoch’s News Corporation and has built a formidable property portfolio, including the Savoy Hotel in London and the Plaza in New York.