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Saudi Prince Alwaleed Sells Private Airbus A380

  By   Feb 20th 2013 at 3:19PM Cars & Jets RATED

Saudi Prince Alwaleed Sells Private Airbus A380

 

We all know that Prince Alwaleed Bin Talal Al Saud was the first buyer of the uber-luxurious A380 for private use. But according to recent reports, Bloomberg has received an official statement from his CFO Shadi Sanbar that the palace in the skies has finally been sold on the bout of an investment plan via his company, Kingdom Holdings.

 

While the Prince footed a $319 million bill for the A380 in 2007, the selling price and the new owner of the private jet has been kept under wraps as per agreement.

 

So what would prompt the 15th richest man in the world (rumoured to be worth $29 billion) to liquidate an asset as exclusive as the Airbus A380?

 

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Well, it seems the prince has noble plans of his own, and will invest the money in real growth companies based out of Saudi Arabia and the Middle East, all in order to promote welfare and multiply job opportunities.

 

While we can imagine such a project would require a million dollar investment, we for one are surprised to see a celebrity give up on luxury in exchange for social welfare so quickly. Hail to the Prince!

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