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.