Saudi Prince Discloses U.S. Investments

A billionaire Saudi prince, who has shown a knack for making big investments in U.S. companies when he thinks their stocks are bargains, has put about $850 million into Motorola Inc., Netscape Communications Inc. and Rupert Murdoch’s News Corp. Prince Alwaleed bin Talal bin Abdul Aziz al Saud purchased about 5% of Netscape, the Internet software company; about 2.5% of Murdoch’s media company, which owns the Fox TV network; and about 1% of Motorola, the big maker of cellular phones and other communications gear. The latest round of deals was disclosed in an interview with Time magazine.