Saudi Prince Alwaleed invests $1 B in US shares

Prince Alwaleed Bin Talal, a nephew of Saudi Arabia’s for Kind Fahd, has

spent $ 1 billion buying shares in 15 US companies, including Amazon.com,

WorldCom Inc, Coca-Cola company, PepsiCo Inc and AT&T corp. Alwaleed, ranked

no. 8 in a Forbes magazine list of the world’s wealthiest people, regularly

makes investments in companies with strong brand names and lagging share prices.

The prince spent $200 million on WorldCom shares, the single biggest

investment, followed by AT&T with $150 million. The prince’s new

investments raised the value of his technology, media and telecommunications

portfolio to $7.8 billion.