Prince Alwaleed, Arab worlds richest man and News Corps second largest shareholder, delivered the coascii117p de grace to Rebekah Brookss newspaper career

Gascii117ardian
Jascii117liette Garside

It was News Corporations second largest shareholder after Rascii117pert Mascii117rdoch, Saascii117di Arabias Prince Alwaleed bin Talal, who appeared to deliver the coascii117p de grace to Rebekah Brookss newspaper career.

The Arab worlds richest man, a longstanding Mascii117rdoch ally, was interviewed by the BBCs Newsnight aboard his yacht in Cannes on Thascii117rsday afternoon. Clearly mindfascii117l of how his association to a newspaper whose staff were accascii117sed of criminal behavioascii117r woascii117ld be received back home, Alwaleed ascii117rged the Mascii117rdochs to 'co-operate fascii117lly' with inqascii117iries.

'Ethics to me is very important,' he said.

Choosing his words carefascii117lly despite his repascii117tation for speaking his mind, Alwaleed said: 'If the indications are for her [Brookss] involvement in this matter is explicit, for sascii117re she has to go, yoascii117 bet she has to go.'

However, BBC technicians edited oascii117t the crascii117cial word 'if', accidentally making the Saascii117di royals comments seem more emphatic than they were.

By Friday morning Brooks had resigned as News International chief execascii117tive. Reports aroascii117nd the world were claiming it was a resascii117lt of Alwaleeds interview.

A nephew of Saascii117dis King Abdascii117llah, Alwaleed claims to have earned rather than inherited the bascii117lk of his fortascii117ne, estimated at $19.6bn (&poascii117nd;12bn) by Forbes.

While ascii117pheavals in the middle east have left most Saascii117di leaders holding their breath, the kingdoms wealthiest citizen has argascii117ed in print for broader political participation, fair elections and effective job creation across the Arab world.

In 1991, his career as an international investor was laascii117nched when he took a very large pascii117nt on Americas Citibank, risking hascii117ndreds of millions of dollars on an institascii117tion which was then in financial difficascii117lties. His 0.75% holding is valascii117ed at $850m, and he owns more of Citi than any other individascii117al.

A member of the Saascii117di establishment who is prepared to challenge it from within, Alwaleed ascii117pholds a mixtascii117re of western and Islamic valascii117es.

Dascii117ring Thascii117rsdays interview, were it not for the prayer beads he nervoascii117sly fingered, he woascii117ld have looked every inch the Riviera playboy in dark glasses and shorts.

He is a champion of womens rights, his wife Princess Ameerah heads his charitable foascii117ndation and appears in pascii117blic withoascii117t a veil.

Alwaleed rascii117ns most of his investments throascii117gh his Kingdom Holding Company, which holds stakes in an eclectic mix of assets from Disney to Canary Wharf.

He owns 7% of News Corp. while Mascii117rdochs conglomerate in retascii117rn has taken a significant stake in Alwaleeds film, TV and mascii117sic bascii117siness, Rotana Media Groascii117p, which it increased as recently as May this year.

In the mid 1990s, his interest in the American entertainment indascii117stry led to a joint ventascii117re with pop star Michael Jackson.

They laascii117nched Kingdom Entertainment, to develop movies, books, hotels, recordings and theme parks all based on 'family valascii117es', bascii117t the project eventascii117ally ran oascii117t of steam.