Saudi’s Kingdom Holding buys $450 million stake in Citigroup from Alwaleed

Saudi Arabian Prince Alwaleed Bin Talal's investment company Kingdom Holding said on Wednesday it raised its ownership in Citigroup to 2.2% after acquiring from the prince a stake in the bank worth about $450 million. The company previously owned 1.6% of the Wall Street lender, it told the Saudi bourse in a filing, adding that the deal supported Kingdom Holding's strategic plans, but did not elaborate. Saudi Arabia’s self-styled Warren Buffett, the prince has made hundreds of millions of dollars by investing with almost complete autonomy in companies from Uber to social network Twitter, now known as X.