waleed bin talal yacht

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Owner of Kingdom 5KR Prince Alwaleed bin Talal to donate billions to charity

Saudi Arabia’s Prince Alwaleed bin Talal has announced he will donate all of his $32 billion fortune to charity. Prince Alwaleed bin Talal is the owner of superyacht Kingdom 5KR .

In an official statement, the Saudi Prince said that his billions would go his organisation, Alwaleed Philanthropies, and be used to “foster cultural understanding” and support communities in need, including aiding disaster relief. Prince Alwaleed bin Talal also said the donation of his fortune would help causes that “empower women” – the Prince’s progressive views on women’s issues can be seen in his staff, which counts many women in its roster. Prince Alwaleed bin Talal has already donated $3.5 billion to his charity.

Prince Alwaleed bin Talal is one of the world’s wealthiest people, ranked at number 34 on Forbes ’ list of the world’s billionaires. While he is a royal – the nephew to King Salman – Prince Alwaleed bin Talal doesn’t hold any official government position and is widely considered a “self-made” billionaire. According to the AP , he built his wealth through seed money from his father and varied investments. His company, Kingdom Holdings, owns stakes in Disney, Apple, Twitter, GM, News Corp, 21st Century Fox, and hotel groups including the The Four Seasons, Raffles and Fairmont.

Now Prince Alwaleed bin Talal is donating all of his fortune, stating he has been inspired by the Gates Foundation, founded by Bill and Melinda Gates. Bill Gates enjoys yachting holidays himself, having been spotted on superyacht Serene last year.

"Philanthropy is a personal responsibility, which I embarked upon more than three decades ago and is an intrinsic part of my Islamic faith," Prince Alwaleed bin Talal said in the statement.

Prince Alwaleed bin Talal owns the superyacht Kingdom 5KR , launched by Benetti in 1980. The 85.9 metre displacement motor yacht was designed by Luigi Sturchio , and she enjoyed a refit in 1993. The 1,768GT, Saudi Arabia-flagged yacht can accommodate 22 guests.

No word yet on whether donating all his wealth includes the eventual sale of Prince Alwaleed bin Talal’s superyacht Kingdom 5KR as well. An exact timeline of the donations was not announced in his statement, but the Prince said that the donation of his billions would occur through a “well-devised” plan in the coming years, supervised by a board of trustees that he will head.

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The story of Donald Trump’s superyacht: The Trump Princess

Donald Trump loves a good deal

In 1988, the successful businessman Donald Trump bought the 86m Benetti build superyacht Nabila . He renamed her Trump Princess and used it until 1991.

For a superyacht built in 1980, Nabila was an impressive vessel. She was built for Saudi billionaire Adnan Khashoggi that paid $100 million for it and named after his daughter. Khashoggi is known for his involvement in arms dealing. His net worth was around $4 billion in the early 1980's.

When Khashoggi ran into financial trouble in the mid-1980's he took a loan of $50 million and put Nabila as collateral. He defaulted on the loan in 1987 and a Swiss holding company took possession of the yacht. It was placed with yacht specialist Burgess for a quick sale at an asking price of $50 million.

Learning that Nabila is for sale, Trump made a bid. Burgess had already two other offers, but Trump's bid was more appealing. A Burgess agent flew to New York and made Trump a proposal for $32 million. The sale was settled at $30 million. A bargain, for a yacht he never set foot on.

Trump refitted the vessel and named it Trump Princess .

Why did Trump buy the yacht? He does not like water sports, he's not keen on swimming and always tried to avoid the sun. He never owned a big boat before. He doesn't even like boats.

He was charmed by a "certain level of quality" and admitted that it's an incredible toy and a work of art. "I was buying a great piece of art at a ridiculously low price."

Unlike Trump, Khashoggi loved boats. He acquired his first yacht when his was 18 and traded up as his wealth increased.

In the 70's he owned two yachts but wanted something out of this world. So, he commissioned British designer Jon Bannenberg to draw the most impressive and sumptuous yacht.

Khashoggi didn't stop here he employed Italian designer Luigi Sturchio to produce an interior that is believed to have cost more than the yacht itself.

Also, he wanted the ship to be completely self-contained and included everything in the specifications: from a patisserie and a hair salon to a cinema room with an 800-film library and a hospital with an operating room.

Nabila had crew quarters for a staff of 52 people. It had a helicopter landing pad and two nine meter tenders. The fuel tanks were big enough for 8,500 nautical miles when cruising at 17.5 knots. It had three water-makers capable to produce 45.000 liters of fresh water from the ocean. Also, it had six huge refrigerators that could store a three-month supply of food for 100 people.

For Khashoggi and later for Trump, this vessel was an invaluable business instrument. Movie stars, political leaders and diplomats were invited on board. It is believed the yacht had 150 telephones and satellite communications in order for business sales to be arranged.

The yacht has five decks and more than 100 separate areas. The owner's suite is a full-beam area with a three meter wide bed. It has a dressing room and an impressive bathroom with onyx tiles. Next to the bedroom, there is a television room, a large sitting area and a private elevator that takes the owner to his private sundeck. The yacht has another two elevators on board, one for guests, one for crew.

Trump spent another $8.5 million for refitting the yacht at Amels in the Netherlands. Renamed Trump Princess , she set sail from the Azores to arrive in New York on July 4, 1988, in time for a huge party Trump threw on the yacht.

Like the previous owner, Trump used the yacht mostly for business. But not for long. In 1991, Trump sold the ship to Saudi Prince Al-Waleed bin Talal for $20 million. The Prince renamed the yacht Kingdom 5KR , the name under she still sails today.

For more about Donald Trump's Joy Rides click here .

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See What’s Inside Donald Trump’s Former Superyacht

When Donald J. Trump bought a 282-foot superyacht from Saudi billionaire Adnan Khashoggi in the late 1980s, it was among the largest in the world. Outfitted in marble and gold (and a master bedroom ceiling made of endangered tortoise shell), and equipped with such amenities as a helipad, a disco, and a movie theater, the Trump Princess seemed the perfect vessel for a man with a penchant for glitz. In fact, one of Trump’s first requests was to change the H on the helipad to a T.

The Trump Princess, which includes 11 cabins for 22 guests and 31 crew members, wasn’t in the real-estate tycoon’s possession for very long. By 1991, Trump was forced to sell his beloved boat. The buyer was Saudi Prince Prince Alwaleed bin Talal, who renamed the vessel the Kingdom 5KR, after his lucky number and his two children's first initials.

The yacht, which can hit a top speed of 20 knots and a cruising speed of 17.5 knots, was built in Benetti Shipyards in Viareggio, Italy, and designed by renowned craftsman Jon Bannenberg. It was once featured in the James Bond movie Never Say Never Again (1983), starring Sean Connery.

Worth 8 times more than King Charles, Saudi Arabia’s Prince Al-Waleed bin Talal is a self-made billionaire who leads a life so luxurious that no royal can even dream of. He travels in his personal Boeing 747, unwinds on his $325 million megayacht, and owns three lavish palaces.

Note – As of writing this article according to Forbes Prince Al Waleed is worth $18.7 billion. According to the Guardian, King Charles is worth $2.3 billion.

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Additional reporting by Samia Nakhoul and Rania El Gamal,; Writing by Sami Aboudi and Andrew Torchia; Editing by Stephen Powell and Edmund Blair

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