A recent story by Business Insider revealed that a Saudi Arabian prince has the largest car collection in the world. With more than $8 billion dollars spent on cars, Prince Alwaleed Bin Talal is currently worth at least $17 billion and he’s not done spending yet. The prince owns over 400 cars including 250 Rolls Royces, 45 Ferraris, 10 Lamborghinis, and six yachts. This man’s love for automobiles is only matched by his love for art, as he also owns paintings from Monet and Picasso valued at more than $1 billion dollars combined.
The prince started off buying used Mercedes’ in high school and has since made a name for himself as a savvy investor. He has made profitable investments in Apple, Time Warner, Citigroup, and News Corp. Additionally, Bin Talal owns London’s Savoy hotel, part of New York City’s Plaza Hotel, as well as stakes in Euro Disney.
In addition to his collection of cars and artwork, the prince also owns a Boeing 747, an A380 Airbus, and the world’s 45th largest private jet. However, Bin Talal denied that he owned “the world’s biggest” private jet, claiming that the news reports about his planes were incorrect.
When asked why he was spending so much money on cars in 2008 by CNN, he replied, “When you have these kinds of resources, you have to invest. You can’t put them in the bank.”
The prince, 54, has an estimated net worth of $21.3 billion dollars and currently holds 3rd place on Forbes’ list of the wealthiest Arabs. While this may seem like sufficient proof that he is spending his money frivolously, the prince has claimed that his spending is far from over. With a fleet of cars valued at $8 billion and counting, he has already acquired enough wealth to last most people a lifetime. The prince clearly shows no sign of slowing down as he adds cars worth millions each year to his collection.
Prince Alwaleed Bin Talal is one of the most influential people in the world, with investments that are only rivaled by those of Warren Buffett. With a car collection worth more than some small nations, Prince Alwaleed needs an additional $5 billion to make his automobile purchases the largest known.