Saudi billionaire investor and chairman Kingdom Holding, Prince Alwaleed bin Talal, has commended President Donald Trump for his good policies which has yielded some positive results in the US economy.
He equally said Trump is correct in saying $5.3 trillion in U.S. stock market value has been created under his watch, CNBC confirms.
• The boom for his company
Speaking in an exclusive interview on Squawk Box on Monday, Alwaleed said the investments of his holding company in many U.S. corporations, including Citigroup , Twitter, and ride-hailing service Lyft, have gone up “several billion dollars” since Trump was elected in November.
“Clearly, this [stock wealth] was created because of health care will be finalized and the tax reforms more importantly will be finalized also. There are a lot of good policies by Trump,” the prince said from the company’s headquarters in Riyadh.
“My company, Kingdom Holding, would benefit a lot from Trump’s policies,” he added, while warning the U.S. to “keep an eye on budget deficits.”
• On Trump’s Twitter storms
Alwaleed said people should accept Trump’s style of making policy pronouncements on Twitter. “President Trump has his own way of governing,” he said.
Relating with Trump’s straight talk, the Prince said: “When he said that Puerto Rico is bankrupt and Puerto Rico will never pay its debt, he’s right. He is not wrong in this. But we’re used to presidents being diplomatic and very politically correct. It’s just like Greece. It’s never going to pay its debt.”
• The NFL fiasco and “America first” mantra
“When he says you should stand for the national anthem, he’s right on this. You have to respect your national anthem”, Alwaleed said
“He says America first. He is saying something [is] wrong. You expect him to say America is No. 2?. I hope he’s successful in his presidency”, the billionaire added.