RIYADH, 25 April 2006 — According to Forbes magazine’s 2006 list of the World’s 2000 largest public companies, Citigroup is the largest public company in the world. Kingdom Holding Company Chairman Prince Alwaleed ibn Talal “owns a stake of more than $9 billion in US financial services giant Citigroup” through entities controlled by him and his family.
The list ranking is based on each company’s sales, profits, assets and market value. Citigroup’s sales are $120.32 billion, profits are $24.64 billion, assets are $1,494.04 billion, and the group has a market value of $230.93 billion.
This listing comes on the heels of a long successful track of remarkable achievements for Citigroup in the past few years. The group’s success is credited to the strategies adopted by its management to minimize cost and increase revenue on one hand, and enter new markets internationally on the other.
Prince Alwaleed invested in Citibank in 1991 and is now the largest single shareholder in Citigroup.