Saudi philanthropist Alwaleed to continue as chairman of Kingdom Holding

• The company posted a net profit of $24.2 million for the quarter ending March 31, 2021

• Its portfolio includes CitiGroup, Four Seasons Hotels & Resorts, Banque Saudi Fransi, and Savoy

The philanthropist and billionaire of Saudi Arabia, Prince Alwaleed bin Talal, will continue to be chairman of the board of directors of his investment firm Kingdom Holding for a new three-year term.

According to a bourse filing on Monday, the board of directors has also elected Lama Abdulaziz AlSulaiman as vice chairman and approved the formation of an investment committee, headed by Alwaleed. 

According to Arab News, the new term started on June 5, 2021 and will end on June 4, 2024. Founded in 1980, Kingdom Holding’s portfolio includes CitiGroup, Banque Saudi Fransi, Four Seasons Hotels & Resorts and Savoy, among many others. The company posted a net profit of 91 million riyals ($24.2 million) for the three months ending March 31, 2021, against a net loss of 50 million riyals a year earlier.