The Prince And The Mayor

By Sora Song

Saudi Arabian Prince Alwaleed bin Talal bin Abdel Aziz al Saud, who is sixth on the Forbes list of the world's richest people and has some $16 billion invested in such American companies as Citigroup ($9.65 billion), News Corp. ($1.1 billion), Apple ($314 million) and TIME's parent company, AOL Time Warner ($932 million), is known as one of the most ardent Arab supporters of the U.S. "It is my personal duty," he said before leaving Saudi Arabia for a trip to New York City, "to show my alliance and show the real face of the Arab, Islam and Saudi Arabia." And so, during a tour of ground zero, he presented New York City Mayor Rudolph Giuliani with a check for $10 million to aid the victims of the World Trade Center attacks.

But in a simultaneously released written statement, Prince Alwaleed insisted that the U.S. "should re-examine its policies in the Middle East and adopt a more balanced stance toward the Palestinian cause." He said, "We must address some of the issues that led to such a criminal attack." Learning this, Giuliani rejected the donation, calling the statement "highly irresponsible and very, very dangerous."

Back in Riyadh, Alwaleed had no regrets, but agreed that the feud was a setback for improved understanding. In an interview with TIME, he offered conciliatory words, saying he respects Giuliani and believes he is "doing a good job under tremendous stress." But he adds, "I went there to help bridge gaps with Americans. Mayor Giuliani had responsibility to bridge gaps too. Our job is never to give up."

--Reported by Scott MacLeod/Riyadh

With reporting by SCOTT MACLEOD/RIYADH