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The passion of a prince

by Anil Bhoyrul on Aug 14, 2011

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The driving force behind the decision to construct the world’s tallest building in the Kingdom of Saudi Arabia is HRH Prince Alwaleed Bin Talal, chairman of Kingdom Holding Company.

On his rise to the top
“I always believe that someone who studies, graduates and begins working in any area should have an objective. When I graduated in the US, I began with a small office that was 100m2. It was my charity office, my private office and Kingdom office. I had only three employees. I knew I had to begin somewhere. My objective was to grow. I began with $30,000 and I went bankrupt after six months.

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Something like a "Rags to Riches", story, ultimately its determination that makes it nothing else,never compromise in an

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Then I went back to my father and he gave me $300,000 and I went bankrupt after two years. Then the third time I went to him, he said: ‘It is finished, Prince.’ So I mortgaged my house and then
I took off.

On the secret of his success
“I got to learn from my mistakes and errors. When people ask me what the reason for my success is, I say three reasons: right genes, right place and right time. Take any out and it does not work. Right genes — there is something in me. [The] right place is Saudi Arabia; if I was in a poor country, it would not work. And the right time — if I started in 1932, it could not work.”

On working for him
“It is very easy to work for me if you know me well. With me, you have to have high work ethics; you have to be professional; you have to be disciplined and structured and know what you want to do. I accept mistakes, no problem; but I will not accept the same mistakes again. One [person] should equal 30 people, that is the name of the game.”

On the timing of the tower
“Why this project now? And in the period when much of the world is still coming out of recession, people say ‘why now?’ Because we have confidence in our Saudi economy and our market. I believe in the future strength of the region, particularly in Saudi Arabia and its leadership.”

On leadership
“A leader has to be smart. You have to know where you are heading, and be shrewd enough to hire someone as smart as you. You have to know where you are heading, and what is your objective.

On the world’s tallest tower
“These are the kind of projects I like to do – they are transformational and have an impact. These big projects need vision, strength and guts to do. It is about testing yourself, always pushing yourself to the limit, not sitting back and accepting the status quo.”




Readers' Comments


Feroze Ghaffoor (Aug 14, 2011)
Colombo
Sri Lanka

The Passion of a Prince.
Something like a "Rags to Riches", story, ultimately its determination that makes it nothing else,never compromise in anything, dont make excuses, these ate the most notable features i always tell my business associates, for no-sooner you compromise the battle to success is lost, even if you have to share a lap top, in heavens name dont do it.


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