This story in Britain’s Independent newspaper caught my eye:
A secret $1bn US property empire amassed by members of the Saudi royal family is the subject of a bitter legal dispute that threatens to reveal the extent of the family’s American business interests.
These properties are owned by HRH Prince Abdul-Aziz bin Fahd, the youngest and favorite son of King Fahd and his relative, Sheik Khalid N Al Assaf. The prince, a minister of state without portfolio, is known for his extravagance and international playboy image. The prince reportedly owns $2 billion USD worth of palaces and the world?s largest collection of super yachts. He also once had a romantic relationship with model/actress Yasmine Bleeth of Baywatch.
I tracked down the court document.
Turns out the Prince has owned several buildings in California including the Starz Entertainment building in Burbank; Two Rodeo Drive in Beverly Hills; and 220 Post Street in San Francisco.
Here’s a list of the property holdings:
Other properties formerly owned by the Prince and the Sheikh are:
The properties are managed by
- Dr. Abdulrahman Otaishan, a senior financial advisor to the Prince
- Dr. Andreas Limburg
- Pierre Rolin and his company Strategic Real Estate Advisors Limited, which was placed into administration in 2010 after losing a single client.