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The apparent vanity and ostentatiousness does leave a bad taste in my mouth, but the CFO mentioned in the article does have a point - Why apply different standa
by _nedR 12y ago
The apparent vanity and ostentatiousness does leave a bad taste in my mouth, but the CFO mentioned in the article does have a point - Why apply different standards to this particular billionaire.
I am no expert- but according to the article, the prince's net worth was calculated not directly from the publicly traded value of Kingdom holding, but Forbes' own analysis of Kingdom's assets. If they applied that standard uniformly I think half the paper billionaires would be off the list. Silicon Valley companies are ridiculously overvalued if you consider P/E ratio. For example,Toyota which had profits of $18 billion is valued at $190.2 billion whereas Facebook which had profits of $1.914 billion is valued at $166 billion. To those arguing about Facebook's potential- I am not sure Facebook will be around 10 years from now, but I am pretty sure Toyota will be. Yet Mark Zuckerberg (who seems to have little assets other than his Facebook stock) is at #21, while Alwaleed (who according to Forbes has a lot of tangible assets) is at #31.