Prince Al Waleed bin Talal is back on the job as chairman of global investment firm Kingdom Holding, the company said on Thursday.
Country’s top international investor, Prince Al Waleed was freed on Saturday. On the orders of Prince Mohammed bin Salman, he is set free after being taken into custody for three months along with dozens of senior officials and businessmen.
Attorney general has said, most inmates have been released, after settlements secured just over $100 billion without providing any details.
Prince Alwaleed told Reuters in his first interview, hours before his release. He conserved his innocence and presumed to retain full control of his firm.
People are thinking that whether Prince Alwaleed secured his freedom by handing over part of his fortune, previously estimated $17 billion or stood up to the authorities and won.
Since their detention, he and other tycoons face a challenge to get back in the full swing of running their financial empires.
After the few days of his detention, Kingdom Holding’s share price tumbled 23 percent and erasing 2.2 billion of his personal fortune.
This week, the stock has regained almost all that it lost, but during his detention the overall stock market rose up 10 percent. Kingdom shares do not review that gain, investors are still discounting the stock.
Chief Executive Talal Al maiman said said, “We are very pleased to welcome back Prince Al Waleed to continue his important work as Chairman of Kingdom Holding Company”.
He also added, “The firm’s strategy is aligned with the Vision 2030 reform agenda to create strong investor appeal and a business environment in which KHC and our partners can prosper”.
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