EPSTEIN
page 12 / 320 . OCR, unverified
it's my best friend, I told u about her)
And thanks so much for offering the hotel!
anp. 2016 LI 12:29, jeffrey E. <jeevacation@gmail.com> nanncan(a):
See you tues mondY night should be fun
On Friday, 8 April 2016
wrote:
Privet ))) Jeffrey, the main task for me is to remember how to cook the dessert
AA
Ornpasneno c iPhonc
anp. 2016 r.,I 8:27, jeffrey E. <jeevacation@email.com> nantwan(a):
i hope you have fun tonigt at cooking class
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EFTA_R1_00031219
EFTA01741303
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confidential, may be attorney-client privileged, may
constitute inside information, and is intended only for
the use of the addressee. It is the property of
JEE
Unauthorized use, disclosure or copying of this
communication or any part thereof is strictly prohibited
and may be unlawful. If you have received this
communication in error, please notify us immediately by
return e-mail or by e-mail to jeevacation@amail.com, and
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EFTA_R1_00031220
EFTA01741304
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METADATA_SOURCE: IMAGES0178
METADATA_FILENAME: EFTA01741305.pdf
----------------------------------------
From:
Sultan Bin Sulayem
To:
Jeffrey Epstein .cjeevacation©gmail.com>
Sent
Saturday, October 29, 2011 5:06:38 PM
Prince Al Waleed bin Talal has long been seen as an important link between Arabs and the rest
of the world, acting successfully like a bridge between the business worlds of the Middle East
and the West. But are the financial foundations of this bridge starting to whither? Furthermore,
are there other bridges that Al Waleed can cross?
In March 2008, Forbes Magazinepublished its eagerly awaited list of the world's richest
billionaires. Standing firm at number 19 was the world's richest Arab, Al Waleed with an
estimated fortune then of $21.0 billion. One year later, it couldn't be more different. For it was
in March 2009 that Citigroup's stocks fell from a high of $57 recorded on December 18, 2006
to just 97 cents. Citigroup's shares had recorded a 52 week high of $27.35 on April 28, 2008,
figures we are unlikely to see in the next few years. Citigroup is important because ever since
Al Waleed invested $590 million in 1991 in the bank as it struggled with Latin American loan
losses it has constituted his largest shareholding. Based on simple calculations, his 250 million
shares were one day worth up to $14 billion and are now worth $250 million.
At the same time, Al Waleed's Kingdom Holdings stock price plummeted from 14 Saudi Riyals
to SAR3.9 and his Nasdaq Dubai Kingdom Hotels firm now trades (for lack of a better word)
at one dollar from it's $9.25 listing price. Incidentally, Kingdom Hotels, one of the Prince's
most asset rich and attractive companies can now be bought in it's entirety for $170 million,
about half as much as he paid for his "flying palace" Airbus A380 that qualified for the
CNN/Fortune 101 Dumbest Moments in Business rankings in 2007.
At a $10 Billion market cap, the National Bank of Kuwait, although losing 50 percent of its
value in the past year is today worth twice as much as Citigroup, the latter reaching a market
cap of $270 billion in early 2007.
In fact, Al Waleed's shareholdings read as a list of some of the most troubled investments in the
past few years: Motorola, News Corp, Apple, EuroDisney, Eastman Kodak and Ford have lost
between 50 and 80 percent of their value in the past few months.
The Prince might not be bankrupt but he's never been closer to being so. This will be a tragedy
not just for Al Waleed but for the many charity causes be champions. In 2005 he donated $40
million each to Harvard and Georgetown Universities to set up Islamic studies centres. He also
endowed Cambridge and Edinburgh universities in Britain with $31 million to set up similar
departments. In his home country Al Waleed is known to have built thousands of houses for the
poor as part of his generous housing program in rural areas of the desert kingdom. Al Waleed
is also known for spending every Wednesday evening, if he is in Saudi Arabia, receiving
hundreds of visitors from lower income households with requests for financial assistance, this
generosity can cost him up to $1.5 million on any night.