JULY 17, 2002
A little information on Prince Al-Waleed
IT is worth noting that Saudi Arabian Prince Al-Waleed, a major global investor, could be quietly supporting the idea of a Grand Prix in Beirut. Al-Waleed has a Lebanese mother and there have been rumors in recent months that he might even be considering a political career in Lebanon, following in the footsteps of Silvio Berlusconi, the billionaire businessman who is now Prime Minister of Italy and who has worked closely with Al-Waleed in a number of international investments, notably Kirch.
Al-Waleed recently opened a big new hotel in Beirut and is in the process of building another which is right on the planned F1 track in the city. The Prince is reportedly also showing interest in other real estate along the route of the proposed circuit.
It is probably not a coincidence that his emissaries have been seen in F1 circles, most recently in talks with the Minardi team.