Lion of the Blogosphere

Foreign billionaires who flaunt their wealth

As I’ve repeatedly explained, the very highest class in the United States believes in downplaying its wealth. But such is not the case for some foreign billionaires. Quite amusingly, Saudi prince Alwaleed bin Talal is suing Forbes for claiming that he’s only worth $20 billion. He says he’s worth $30 billion, and he wants the world to know how rich he really is.

Considering how former billionaire Hosni Mubarrak is now in prison after the Egyptian revolution, and Saudi Arabia’s precarious political situation, it seems very unwise for prince Alwaleed bin Talal to be bragging about how many billions he’s worth. It seems to me that someone with such low future-time orientation could only have gotten so rich by using his royal family status to loot the nation’s oil wealth.

Written by Lion of the Blogosphere

June 10, 2013 at 2:42 pm

Posted in International, Wealth

29 Responses

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  1. Reblogged this on oogenhand and commented:
    It is very true that oil sheiks are relatively unintelligent (and prole) for people with their income and wealth. They buy Liberal newspapers to promote Islam, while intelligent people don’t take those serious anyway. Smart people use well-placed blogs and underground channels to promote their views, like Barry Chamish and Obadiah Shoher do. The reason rich people are often surprisingly stupid is because wealth can do less damage in their hands. Compare a billion in the hands of Beyoncé vs. a million in the hands of Alex Linder or N.M. Valdez.

    oogenhand

    June 10, 2013 at 2:50 pm

    • No the reason some rich people are stupid is because they inherited their money, but didn’t inherit the brains it took to make it.

      Bottledwater

      June 10, 2013 at 4:08 pm

  2. On one your recent “top-out-of-sight” posts, I asked if Indians can be top-out-of-sight. Someone replied “Yes, in India.”

    I immediately thought of Mukesh Ambani’s private skyscraper in Mumbai. Wealthy Indians flaunt their wealth in the most vulgar ways.

    Blog Raju

    June 10, 2013 at 3:10 pm

    • I would agree with this for the most part. Though AFAIK Vinod Khosla or Ram Shriram (tech VC’s, entrepenuers both worth 1 billion +) flaunt their wealth. However they are not TOOS.

      uatu

      June 10, 2013 at 4:46 pm

      • edit: vk and rs do NOT flaunt their wealth as far as i know.

        uatu

        June 11, 2013 at 4:45 am

    • Wealthy Indians flaunt their wealth in the most vulgar ways.

      Rich Indians flaunt it because they have only recently achieved Western levels of wealth. Western elites try to be circumspect about great wealth because flaunting it is considered prole by their peers.

      The Undiscovered Jew

      June 10, 2013 at 7:07 pm

    • Gaudy displays of wealth signal status in third world countries because even the elites are poor by Western standards, at least until recently.

      The Undiscovered Jew

      June 10, 2013 at 7:36 pm

  3. Donald Trump sued a reporter from the NY Times for claiming Trump is not a billionaire at all, but worth only a few hundred million. When trump was roasted by comedians he told them they could say any insult they wanted about him or his kids, but the one thing they couldn’t do was question his wealth. The billionaires who downplay their wealth are those who value their anonymity and resent appearing on the Forbes list, but if you’re already famous you want to look as rich as possible. Money manages to convey an image of intelligence, in even the most unlikely of cases.

    Bottledwater

    June 10, 2013 at 4:06 pm

  4. You gotta love the Saudi royal family for being such great alphas though. The founding king of Saudi Arabia (like 100 years ago), had 43 sons (they didn’t count the daughters). At least one son (the next king) outdid him and sired 50 sons. There are literally thousands of princes in Saudi Arabia. The founding king actually established a whole school just for the education of the princes. He is probably the most reproductively successful man in recent history.

    AsianDude

    June 10, 2013 at 4:11 pm

    • Nothing alpha about reproducing when you have wealth. If he raised these men to be titans of industry or something of substance, maybe.

      The current Saudi royal family owes all of their success to the British who decided to give the most oil rich land in the world to a bunch of wandering bedouins..

      That’s it, these people were specifically chosen so they could be easily guided by western powers.

      Kaz

      June 10, 2013 at 4:55 pm

      • What AsianDude said. A lot of Billionaires have two or three kids. That is pathetic to me. Then why be a billionaire? If I was a billionaire…

        “Nothing alpha about reproducing when you have wealth.” No. Actually reproductive success is almost the biological definition of alpha.

        Dan

        June 10, 2013 at 5:54 pm

      • @Dan

        For some reason it won’t let me reply directly to your post.

        Anyways, having lots of children means little. Who cares if you have lots of children that are doomed to failure? Having a few kids that will be exceedingly successful and capable of carrying on your lineage, that’s alpha. Having kids that are doomed to shit lives means nothing, otherwise Indian men would be of the most alpha in the world.

        The point of being a billionaire is catapulting your family into a permanent state of wealth and power.

        Maybe I was projecting my own meaning of the phrase ‘alpha’ into something I consider good. I guess I’ll redact that.

        Keep in mind, anyone can have kids, it just depends on how low you set the bar and how comfortable you are dooming your progeny to mediocrity.

        The Arab elite will lose their money, it’s an inevitability, as you have read; some royalty have dozens of childrens, thousands of grandchildren, these people are living off oil money, not their own. These people are incapable of creating more wealth from anything other than their oil holdings. This reality check will come sooner for those in the lower levels of royalty.

        Alwaleed bin Talal, for all of his opulence, is actually a Prince who has mildly got his shit together. Seemingly..

        Meh

        June 10, 2013 at 6:31 pm

      • Billionaires don’t have to reproduce because they can do infinitely more for their genetic fitness by financially aiding their ethnic group then they can by becoming parents. Sheldon Adelson is a good example of this. And you don’t need money to have lots of kids. Some of the most reproductively successful people on the planet are welfare recipients.

        smartandwise

        June 10, 2013 at 6:39 pm

      • “Billionaires don’t have to reproduce because they can do infinitely more for their genetic fitness by financially aiding their ethnic group then they can by becoming parents”

        That makes no sense, as people who are wealthy and safe have the lowest fertility rates. If Adelson wanted to increase his ethnic fitness he’d try to help Jewish fundamentalism spread.

        Hepp

        June 10, 2013 at 11:42 pm

      • Adelson is helping Israel survive and thrive. That enhances his genetic fitness a million times more than having a dozen kids which are just a drop in the genetic ocean.

        smartandwise

        June 11, 2013 at 10:49 am

      • “Some of the most reproductively successful people on the planet are welfare recipients.”

        This unemployed gentleman has 22 children by 14 women. He’s 33 years old.

        http://kdvr.com/2013/06/07/man-has-22-children-with-14-women/

        islandmommy

        June 11, 2013 at 11:16 am

  5. Alwaleed doesn’t have “low future-time orientation”, and he didn’t get as rich as he is just from family oil wealth. He is the most successful investor in that country (in stocks, international real estate, etc.)

    Dave Pinsen

    June 10, 2013 at 4:11 pm

    • In the land of the blind, the one-eyed man is king?

      Lion of the Blogosphere

      June 10, 2013 at 4:17 pm

      • A good way for a non-brilliant person to get really rich is to move to a country with a low average IQ but lots of natural resources, because the competition would be easier to outsmart.

        Bottledwater

        June 10, 2013 at 4:41 pm

      • Except that when he invests in US stocks, London real estate, etc., he is competing globally.

        Dave Pinsen

        June 10, 2013 at 7:19 pm

    • He got rich because the oil wealthy set up rent seeking laws that required that a Saudi run company be the primary contractor on at least oil & government construction. He set up one of the first construction companies (and had ties to the royalty) so they got picked by huge foreign construction firms to be their local partner. Then he started investing in stocks and international real estate.

      massivefocusedinaction

      June 11, 2013 at 12:55 pm

  6. Flaunting one’s wealth is prole. Rich foreigners are the biggest culprits.

    JS

    June 10, 2013 at 4:42 pm

  7. What about Roman Abramovich? Jewish (russian) but spends like an Arab. Loves spending 9 digits on art, yachts, housing, and soccer.

    uatu

    June 10, 2013 at 4:51 pm

  8. it seems very unwise for prince Alwaleed bin Talal to be bragging about how many billions he’s worth.

    If worse comes to worse he’ll just transfer his riches to a Swiss bank account and flee to a wealthy resort in Europe or East Asia.

    The Undiscovered Jew

    June 10, 2013 at 6:14 pm

    • Walweed is really trying to impress wealthy Western elites who are his real peers, not prole Saudis. Wealthy Westerners are more likely to be turned off by gaudy displays of wealth, but he may not know that.

      The Undiscovered Jew

      June 10, 2013 at 6:15 pm

  9. For at least the last 40 years, going back to the oil price rise of 1973, the imminent overthrow of the Saudi royal family has been close to conventional wisdom.

    Still hasn’t happened yet.

    My impression is that most Saudi royals are pretty vacant, but there have always been a few members of this giant family who have brains to keep a good thing going: Sheik Yamani in OPEC a generation ago, Prince Bandar, the illegitimate daughter of a black slave girl who was Saudi ambassador in D.C. for decades. When G.W. Bush told G.W.H. Bush in the 1990s that now that he’s running for President, he ought to finally learn something about American foreign policy, the old man sent Dubya to Prince Bandar for his lessons.

    Steve Sailer

    June 10, 2013 at 7:19 pm

    • With that kind of polygamy, one family can form the nomenklatura of a country.

      Uncle Peregrine

      June 11, 2013 at 12:48 am

      • Exactly. It also helps that Saudi Arabia does not have a strict pre-set rules on royal succession. All kings of Saudi Arabia except the first one have been one of the 43 sons of the first king of Saudi Arabia. There is quite a bit of selection involved, as the process doesn’t give automatic favoritism to older princes. The current king of Saudi Arabia has established that a council composed of sons and grandsons of the first king shall “elect” the next king.

        AsianDude

        June 11, 2013 at 9:00 pm

  10. Alawaleed’s wealth is noatch to many toos, who don’t give any attentions to forbes.

    An interesting thing is the forbes clan always omitted themselves while compiling the rich list.

    colmainen

    June 11, 2013 at 4:18 am


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