francine: that was bloomberg's era chapter -- erik schatzker speaking with prince alwaleed bin talal. kevin cirilli. we have a million questions about president trump and we want to talk about facebook. first, alwaleed bin talal has also -- first, the prince of saudi arabia is received by the white house today. kevin: they want no draw my in terms of political optic and second, they need to have some type of arrangement that would double down on what we saw in president trump's first year in office, particularly a -- we should note the saudi's role with financial ties to folks like russia and the chinese. the united states has really tried to bridge this gap at the end of the obama administration and the trump administration to bring them to the negotiating table and even plant some seeds to get them to put pressure more on iran as well. the third point is to really continue to allow u.s. companies and u.s. multinationals to continue to make an imprint in the u.s., we remember the investment gilts announced in riyadh during the president's foreign trip over there. that is something th

alwaleed bin talal would be

erik: welcome to this bloomberg television special, an exclusive conversation with prince alwaleed bin talalerik schatkzer . world's richest individuals and undoubtably saudi arabia's richest businessman. his investments span the globe. last november he became the most prominent figure detained in the so-called crackdown on saudi corruption. up at the now infamous ritz-carlton no keller 483 days -- ritz-carlton hotel for 83

♪ erik: welcome to this bloomberg television special, an exclusive conversation with prince alwaleed bin talal schatkzer. he is one of the world's richest individuals and undoubtedly saudi arabia's best-known businessman. this kingdom holding is one of the largest companies listed on the exchange, and his investments span the globe. last november he became the most prominent figure detained in the so-called crackdown on saudi corruption. he was holed up at the now infamous ritz-carlton hotel for 83 days. sinc

let's hear more from our exclusive interview with prince alwaleed bin talal who has spoken for the firstime since his release and detention in saudi arabia. shares his main company plummeted 21% after he was initially arrested. the stock price has since recovered and now the prince is out and on the hunt for new deals. he told erik schatzker about some of the plants his business is working on. now ind: we are communication with the government. they have big projects where they are going to have resorts. four seasons was invited to be there. to a hugeng entertainment center. we are involved in hotels, in media and entertainment. no competition. >> if you become involved with this resort in the red sea or the interest him a complex that is being built, this will be by choice? or this is a part of your ongoing relationship? alwaleed: you are very smart. this does not have anything to do with conditions. we do it -- we invited the four seasons to invest in four seasons even before the detention. we are continuing our discussion. holding, itgdom helps r.o.i.. >> what about coinvestment? will

our reporters sat down with saudi arabia's prince alwaleed bin talal. jason: he was caught up in anticorruption last year. taylor: he was locked up in the ritz carlton. >> i need to clear my name and the lies. he said i was tortured, i was sent to prison. during my 83-plus days in the ritz carlton hotel. these were lies. i stayed the whole time there, i was never tortured and given the best service by the saudi government. doctors would come twice a day. we had the best of service, best food, best everything. it disturbs me to hear all of these rumors and innuendos and heresies. >> this whole ordeal has affected your reputation. people will still believe no matter what you tell me today that because you were in the ritz carlton, you must be guilty of something or crooked perhaps. surely you must realize that. >> sure. when you are detained, for sure, some of the business community, some of the banking community, they will have one iota of doubt, for sure. that is my job right now, to interact, meet with all of them individually or jointly, or go through

. >> o'donnell: among the detained was prince alwaleed bin talal, one of the richest men in the worldnce alwaleed was detained for more than two months, the saudis allowed a camera crew inside his room at the ritz for a brief interview. >> prince alaweed: and i'd like to stay here until this thing's over completely and get out and life goes on. >> o'donnell: mohammed al-sheikh said the crackdown was necessary. >> mohammed al-sheikh: it wasn't easy.heames and given the people who were involved, it really wasn't easy. but we, we just felt that we had to do this. and, and we had to do it that way. >> o'donnell: what kind of corruption are we talking about? i mean, how much money was disappearing? >> mohammed al-sheikh: probably five to 10% of the annual spend by the government, which was roughly, i would say anywhere between $10 to 20 billion, maybe even more, on an annual basis. >> o'donnell: so $20 billion a year is just disappearing? >> mohammed al-sheikh: disappearing. >> o'donnell: there have been reports that some detainees were physically abused, and one died in custody. the saudi

scarlet: that was prince alwaleed bin talal.rg. ♪ scarlet: time for the bloomberg business flash, a look at the biggest stories in the news right now. united airlines is suspending reservations for its animal transport service. they plan to review until may 1, including which breeds of dogs they will accept. this comes after an especially bad week that saw one dog die in an overhead bin and a kansas bound dog sent to japan. some of the videogame sector's the survivalrs -- one fortnite is weighing heavy hitters. is your business flash update. coming up, it will only get the u.s. relationship with saudi arabia. ♪ mark: i am mark crumpton with first word news. education secretary bes betsy devos says the federal commission on school safety formed in the aftermath of the florida school shooting will consist of her and three other cabinet secretaries. during a tense hearing today, she defended the right to arm teachers and would not say whether she supports banning gun purchases for anyone under the age of 21. the head of the organiz

rishaad: saudi arabia's prince alwaleed bin talal. the big story so far today. break -- facebook, tencent. >> the fed is less than 24 hours away. no big surprise when it comes to what they do. on.ave deutsche bank coming the expectation is that they will raise the dollar spot. how much i will be asking them. you could raise it in 2018, 2019, 1 or both. and what would constitute or push markets off the edge. the other story we will be having a look at his india. you can take this story back to -- either you recognize it or you classify it. rishaad: the bad debt problem is very much. the bad debt problem in india is bad if not worse than china. >> you look at the corporate balance sheet situation, that is a problem. you have a lot of these billionaires looking to flee. india's trying to get those is this man. i would say face the music. this is bloomberg. ♪ ♪ mark: i am mark crumpton you are , watching "bloomberg technology" and here is a check of first world news. president trump says he congratulated russian president vladimir putin today on his reelection. mr.