Prince Al Waleed Bin Talal Bin Abdulaziz Al Saud, member of the Saudi Royal family, began building his investment portfolio in 1979 as a private investor and entrepreneur. He established a number of business ventures, initially focusing on construction and real estate. The Prince's investments grew and eventually led to the formation of Kingdom Holding Company (KHC). Founded in Riyadh in 1980 in a small pre-fabricated office, KHC started its activities in the construction business building highways, housing developments, and educational projects. It grew its investments into banking, telecommunications, broadcasting and media, entertainment, hospitality, computers and electronics, agriculture, restaurants, upscale fashion, retailing, supermarkets, tourism, travel, and automotives.

In 1988, KHC purchased a 30% stake in United Saudi Commercial Bank (USCB). In 1997, KHC acquired Saudi Cairo Bank and merged it with USCB to create United Saudi Bank, which in turn merged with Saudi American Bank. Another merger with SambaSamba in 1999 consolidated KHC's banking interests in the Kingdom. In 1991, KHC invested USD590 million in US-based Citicorp, which merged with Travelers Group in April 1998 to form CitigroupCitigroup with over USD1 trillion of assets and USD100 billion of equity.

In 1994, KHC invested USD345 million to acquire 24% of Disneyland Paris. Also in 1994, KHC acquired 50% of Fairmont hotel chain. A share swap in 2003 lead to a 4.9% stake in the parent company of Fairmont Hotels and Resorts. KHC also invested USD120 million in 1994 to acquire 22% of the Four Seasons Hotels Corporation.

In 1995, KHC acquired a 42% stake in New York Plaza Hotel for USD300 million, which was increased to 50% in 2001. In 1996, KHC acquired 50% of Cairo Nile Plaza Complex, a USD300 million hospitality center comprising a Four Seasons Hotel and luxury apartments. In1997, KHC acquired a 27% stake in Movenpick Hotels and Resorts. In 2003, the stake was raised to 33.3%.

In 1997, KHC invested USD400 million to acquire 5% of News Corporation. In 1999, the investment was raised to USD600 million. In March 2006, KHC launched the Islamic Al Resalah (The Message) channel that provides programs with an Islamic context.

In 2000, KHC established Kingdom Hotel Investment Group (KHI)Kingdom Hotel Investment Group (KHI) to consolidate Middle Eastern hotel assets into a single investment entity.

In 2005, KHC acquired 96% of the Royal Palm Hotel in Dar Es Salaam, Tanzania. The same year, Kingdom Hotels International, Fairmont Hotels and Resorts, and Bank of Scotland Corporate venture completed the purchase of the Savoy Hotel in London for USD400 million.

Between 1995 and 2000, KHC established Kingdom HospitalKingdom Hospital (SAR400 million), Kingdom SchoolsKingdom Schools (SAR330 million), Kingdom Centre (SAR1.7billion) and Kingdom CityKingdom City (SAR400 million). In 1997, KHC Invested USD10 million in Palestine Development and Investment Company (PADICO)Palestine Development and Investment Company (PADICO), engaged in construction and development projects in the West Bank and Gaza Strip.

In1997, KHC acquired 5% of Apple Computers for USD115 million and in 2000, invested USD400 million in Compaq Computer Corporation, which was acquired by Hewlett Packard (HP) in May 2002.

In 2006, KHC was ranked as the largest privately held company in Saudi Arabia based on total revenues.

KHC increased its paid-up capital to SAR63 billion (USD16.8 billion) in 2007, from SAR10 million (USD2.67 million) in 1980, when it was established. KHC began a subscription period on July 10 to list 315 million shares on the Saudi Stock ExchangeSaudi Stock Exchange valued at SAR3.228 billion (USD860 million), which represents 5% of the company?s capital.