Out My Window

The Saudi prince who owns a double-decker "flying palace" has lost $4 billion in the past year showing that even the ultra-rich are getting pinched by the global financial crisis.

Prince Alwaleed bin Talal remains the world's richest Arab with a net worth of about $17 billion.

Alwaleed last month announced he would raise his stake in ailing banking giant Citi to 5 percent from less than 4 percent. The move has failed to boost the bank's share price.

The Saudi royal's controlling stake in Kingdom Holding, which invests in well-known companies such as computer maker Apple Inc. and Rupert Murdoch's News Corp., accounts for nearly $8 billion of his wealth.

Alwaleed also owns Middle East media company Rotana Holding, and controls more than $3 billion worth of real estate, including a 124 acre personal resort complete with a private zoo. *

Poor guy! And I bet he is out of a job too.
No wonder Bin Laden hates America, we have spoiled him rotten.