Prince Alwaleed Bin Talal: Trump is toning down his rhetoric

Kingdom Holding Company Chairman Prince Alwaleed Bin Talal on Donald Trump's election victory and the fight against ISIS.

Saudi Prince Al-Waleed Makes Nice With Donald Trump

By Business Leaders FOXBusiness

Things are “back on track,” with Donald Trump and Prince Al-Waleed bin Talal after the Saudi Arabian billionaire called for the President-elect to exit the primary race last year. 

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“I was critical of what he said about Islam. I never interfere in U.S. politics, I never talked about his policy on immigration, about fiscal plans, about building the wall, etc. I only was critical of him when he attacked Islam. But as you know, Mr. Trump has [removed] from his website all those comments that were offending to our religion Islam. Accordingly, all the reasons that caused the skirmishes between me and Mr. Trump have disappeared," he told the FOX Business Network’s Maria Bartiromo.

When it comes to defeating terrorism and ISIS, the prince said Saudi Arabia will support Trump.

“We are seeing right now the major fight in Mosul where we hope that Mosul will go back to the Iraqi regime and this will be [a] big setback for ISIS. So rest assured that Saudi Arabia and [the] Arab world [and] the whole Islamic world will back Mr. Trump in his effort to fight ISIS and eradicate them because ISIS is a common enemy of Saudi Arabia, the Arab world, the whole world,” he said.

He also discussed the perception of America abroad.

“There’s no doubt that really the image of the United States and [the] Arab world and Islamic world is very wobbly – that we are not sure that we can count on the United States. But I hope with the incoming administration, a firmer stand and firmer position will be put to us and we know exactly the position of the United States,” he said.

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The chairman of Kingdom Holding’s Company, whose portfolio includes shares of several U.S. companies, was also positive about Trump’s impact on the markets.

“We have been investing in the United States…[for] three decades. And we [are] always looking for opportunities in the United States and clearly the market was very optimistic with the election of President Trump…I think this is somehow very optimistic…about what Mr. Trump will do, and he is looked at as being positive to the market which is something we are welcoming,” he said.

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The prince also shared his investment strategy.

“We always take a rifle gun approach. We never take a short gun approach and clearly some companies now are very much overvalued but some companies are undervalued…There has been a rotation in the market whereby the banking shares have been rallying dramatically…We have seen how some technology companies have been hit badly…We will wait and see. We will not rush at all and take our time,” he said.

Kingdom Holding Company holds a stake in the FOX Business Network’s parent company, 21st Century Fox (FOXA).

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