Chapter 430: Saudi Arabian Kingdom Holding Fund

"The Sun Valley Conference!" Arthur didn't really care too much about it. After all, Herbert Allen was also a board member of Coca-Cola and had been friends with Warren Buffett for many years. Sun Valley's fame had increased primarily due to Warren Buffett's frequent attendance; Berkshire Hathaway's management was just too strong!

After leaving the reception, Arthur met Jennifer Connelly at a club in Century City.

"You're amazing, Arthur, Jordan's comeback is real, Nike's stock jumped on the same day," Jennifer Connelly embraced Arthur, bubbling with excitement.

"That's great," Arthur remarked, caressing Jennifer Connelly's thigh. Jordan's return had visibly boosted NBA attendance, and the Los Angeles Galaxy was ranked fifth in the Western Conference, set to face the fourth-place Seattle SuperSonics in the first round of the playoffs.

Last season, the SuperSonics, who topped the league, were stunningly upset by the Nuggets!

Jennifer Connelly pecked Arthur on the cheek a few times. "Yeah, the impact of Jordan's return is immense, boosting both the market and stock prices -- it's plain as day!"

Of course, the most significant impact was certainly felt in Chicago's basketball market. Arthur took a sip of his drink and moved to draw back the curtains on one side of the private room. It was one-way glass that looked out onto the club's performance stage, where a stripper was energetically performing, captivating the surrounding audience!

"Next summer, the downtown Galaxy Arena will be ready. The Los Angeles Galaxy moving to the new home should attract a lot of people." Arthur saw promise in the $350 million investment in a state-of-the-art, multipurpose arena. Numerous VIP rooms and more professional facilities formed the backbone of the Los Angeles Galaxy!

"And the Beverly Hills Ritz-Carlton Hotel is about to open," Jennifer Connelly was familiar with many of Arthur's ventures and kept an eye on them.

Arthur chuckled, pulling the lady closer. "The opening ceremony is on the fourth of next month, and quite a few investors in the Ritz-Carlton Group are showing interest!"

Earlier, the Blackstone Group had acquired a 20% stake for $175 million. Now, Middle Eastern investors had expressed interest, notably with Prince Al-Waleed bin Talal of the Saudi royal family, head of the Kingdom Holding Fund, showing frequent activity in real estate and hotel businesses in recent years.

Last year, the fund purchased a 25% stake in Four Seasons Hotels for $120 million. In June, they spent $300 million acquiring a 42% stake in New York's Plaza Hotel, alongside previous investments like Disneyland Paris!

Currently, Horst Schulze, CEO of the Ritz-Carlton Group, was negotiating new investments with Prince Al-Waleed.

"Arthur," Jennifer Connelly couldn't help but embrace the man and kiss him.

"Mmm," Arthur responded passionately, hands reaching for the lady's curves, with the atmosphere quickly heating up.

"Hey, is that Mickey Rourke?" Jennifer Connelly said, pressing against the glass as she seemed to recognize Hollywood actor Mickey Rourke performing on the stage below.

"Mmm, Mickey Rourke?" Arthur, leaning against the lady's back, squinted for a better view. "It really is him. Did he get injured in a boxing match to look like this?"

Mickey Rourke, a boxer, had quite the name in Hollywood during the '80s with his ruggedly handsome looks that landed him memorable roles. In the '90s, Rourke returned to boxing but suffered severe brain injuries, and he announced a permanent retirement from the ring this year.

Currently, Mickey Rourke had undergone four plastic surgeries to reconstruct his damaged nose and cheekbones, even having part of his ear removed by doctors for facial repair!

"He used to be quite handsome, but now he's changed a lot," said Jennifer Connelly, who had known Mickey Rourke when he was quite popular in the '80s.

Arthur shook his head, "Hollywood doesn't really have a place for him now. Let's leave!"

There was no helping it; Mickey Rourke's reputation had been bad before he left Hollywood. He was hard to work with, and he left for boxing because he was disheartened by a string of bad films in his acting career.

...

With May arriving, the Beverly Hills Ritz-Carlton Hotel successfully opened and served as a flagship store in Southern California. Simultaneously, the Kingdom Holding Fund spent $305 million acquiring a 20% stake in the Ritz-Carlton Group! Prince Al-Waleed bin Talal signed the acquisition agreement with Arthur Smith at the Beverly Hills Ritz-Carlton Hotel.

According to estimates, the Ritz-Carlton Group's valuation now exceeded $1.5 billion.

"Arthur, it's been a pleasure working with you. Next, I want to build two new Ritz-Carlton resort hotels in Riyadh and Jeddah!" Al-Waleed was ambitious.

Arthur smiled, "Of course, that's no problem. While our current focus is on Europe and the US, we do have plans for the Middle East and Asia as well."

"The Kingdom Holding Fund is willing to invest in Ritz-Carlton hotels in Saudi Arabia, which we certainly welcome!" The wealth of the Kingdom Fund made the Ritz-Carlton's expansion in the Middle East possible through franchise operations.

Generous with his investments, Arthur increasingly found Prince Al-Waleed bin Talal adorable, a real Middle Eastern "stock god" as they called him!

Al-Waleed, now 40, spent most of his time in Europe and America, making real estate one of the Kingdom Holding Fund's key investment targets.

"Arthur, you must visit Saudi Arabia sometime. The Middle Eastern vibe is worlds apart from here," Al-Waleed extended an invitation, preferring the Ritz-Carlton over the Four Seasons Hotels.

Why? Mainly because Arthur Smith's reputation was so stellar right now, holding the Galaxy MGM as an ace card and being a legend in his own right!

"I will definitely visit. I have been to places like Egypt and Africa, and the Middle East is changing rapidly."

"For us, it's an emerging market worth watching," Arthur was certainly keeping an eye on the Middle East region. After all, the oil tycoons didn't treat money as a big deal.

Al-Waleed nodded, "Hollywood in the '90s belongs to the Galaxy!"

In just five short years, they had won three Academy Awards; Galaxy's momentum was unmatched. Including Orion's previous win, in total, that's four Oscars. Now, having acquired the historical Hollywood film companies MGM and United Artists, the number of Oscars held by Galaxy was leading Hollywood.

Arthur raised his hand with a smile, "There's tough competition in Hollywood. It's like water flow; we must keep moving forward."

"Alright, let's head to the banquet!"

*****

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