Billionaire Saudi prince loses UK court battle over Gaddafi jet

Judge Peter Smith ruled in favor of Sharab, who issued a statement urging Prince Alwaleed to heed the court ruling and pay up.

The prince is number 26 on the Forbes global ranking of billionaires. The U.S. magazine estimates his fortune at $20 billion while he says the figure is closer to $30 billion.

Through his Kingdom Holding Company, the prince owns large stakes in Citigroup, News Corp and Apple Inc, among other companies. He is also the owner or part-owner of luxury hotels including the Plaza in New York, the Savoy in London and the George V in Paris.

(Reporting by Estelle Shirbon; editing by Stephen Addison)

Article Appeared @http://www.rawstory.com/rs/2013/07/31/billionaire-saudi-prince-loses-uk-court-battle-over-gaddafi-jet/

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