News: Saudi billionaire Prince Alwaleed claims victory over Forbes libel case

Saudi billionaire Prince Alwaleed Bin Talal Bin Abdulaziz Al Saud said he was "pleased" that a UK judge has ruled in his favour in a defamation case against Forbes magazine, according to a statement from the royal's official office on Wednesday.

"The Prince has consistently maintained that Forbes defamed him by falsely accusing him of defaulting on important contractual obligations, dishonestly manipulating the share price of Kingdom Holding Company, and firing KHC's auditor because it raised concerns that KHC's value was over-estimated," the statement said in relation to articles written by the magazine in April 2013.
"With today's ruling the court confirms that the Forbes articles made defamatory accusations, thereby strengthening Prince Alwaleed's claims. The lawsuit will now move forward to hold Forbes accountable for their inaccurate reporting, to correct these false and damaging allegations and to vindicate HRH Prince Alwaleed's reputation," the statement added.
Forbes also claimed victory from this week's verdict in its own statement: "The Prince claimed that the magazine accused him of manipulating his company's share price to inflate his net worth and raise his ranking on the Forbes list.
The Court rejected that claim, finding the articles merely detailed the magazine's strong grounds for suspecting that the Prince had sought to mislead readers of its list by inflating Kingdom Holding's share price, and thereby his net worth, by billions of dollars.
The court also dismissed the Prince's company, Kingdom Holding, as a plaintiff in the case."
Check him out, 35th World's richest person, according to Forbes.