Saudi billionaire invests $500 million in General Motors

Prince Alwaleed Bin Talal invested $500 million in the automaker’s initial public stock offering.

The Saudi prince’s stake is about the same size as SAIC Motor Corp. - GM’s partner in China, which acquired 0.97% of GM when the U.S. Treasury sold about 358 million shares of the automaker for $33 each.

The investment, held by the prince amounts to a stake of aprox 1 per cent. The US government sold close to half its shares in the IPO but remains GM’s biggest shareholder, with 33 per cent.
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America - 11/24/2010 3:48:02 AM

+4 Boost

This is the same Saudi who's 10 million dollars was rejected by Rudolph Giuliani after 9/11 because he blamed the attacks on the US rather than the Islamic Jihadis who perpetrated the attack. Prince Alwaleed is also the second largest investor in FOX NEWS and the Wall Street Journal.

Ahh, the many faces of Islamic Jihad and Imperialism.

uaw_lax - 11/25/2010 10:10:05 AM

0 Boost

pleas kick this guy ASAP!