Saudi billionaire Prince Al-Walid bin Talal bin Abdul Aziz has "withdrawn"
150 million dollars worth of investment from South Korea’s Daewoo Motor and Hyundai
Motor, Agence France-Presse reported.

The news agency said that the prince had held a $US100 million stake in Daewoo
and a $US50 million or 7.8 percent stake in Hyundai.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Discover B2B Marketing That Performs

Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.

Find out more

"I’ve withdrawn all my investments worth 100 million dollars with interest"
after Daewoo recently "went bankrupt", he told Agence France-Presse.

"I’ve decided to withdraw my investments in Hyundai after having failed
in negotiations with the company to maintain the levels of dividends, settled
at 13 percent in a previous agreement" in 1998, the prince added.

"Hyundai only offered me a dividend of five percent, which I refused,"
he said.

Agence France-Presse said that 43-year-old Al-Walid is a nephew of King Fahd.
He runs the Kingdom Holding group with worldwide investments and claims that
he has amassed a personal fortune of $US20. 3 billion.

The prince built his global financial empire by investing in major companies
experiencing hard times. US magazine Forbes ranks him as the world’s fifth-wealthiest
entrepreneur, Agence France-Presse said.

Just Auto Excellence Awards - Nominations Closed

Nominations are now closed for the Just Auto Technology Excellence Awards. A big thanks to all the organisations that entered – your response has been outstanding, showcasing exceptional innovation, leadership, and impact.

Excellence in Action
Continental has secured the Window Displays Innovation Award in the 2025 Just Auto Excellence Awards for its Window Projection solution, transforming side windows into dynamic, data-rich canvases. Discover how this compact projection technology and intelligent software are reshaping in-car UX and opening fresh revenue streams for OEMs and mobility providers.

Discover the Impact