Riyadh — Mubasher: Prominent businessman Prince Alwaleed bin Talal promised to unveil more details on his settlement with the Saudi government over alleged corruption in a bid to calm investors in Kingdom Holding Company (KHC), in which he owns a 95% stake.

 The Saudi Arabian billionaire said he may announce more details on the terms of his release in the “coming weeks or months” to make KHC shareholders “more comfortable”, Bloomberg News reported on Tuesday, citing Alwaleed as saying in an interview with local TV channel, Rotana Khalijia.

“Maybe the market still wants more transparency..I admit there’s some confusion for them now,” he said.

Alwaleed’s fortune, around half of it is tied to shares in KHC, has dropped to $15.5 billion from $36 billion in 2014, according to the Bloomberg Billionaires Index.

The Saudi prince ascribed the decline to a drop in KHC shares, which fell about 60% over that period, and was not due to any agreement or settlement he made during his detention at Riyadh’s Ritz-Carlton hotel.

The owner of investment firm KHC and the media company Rotana was released in January 2018 after reaching a confidential “confirmed understanding” with the government.

Since his release, various media reports have suggested the settlement could have involved cash payments or multi-billion dollar property transfers.

The kingdom sought to boost its state coffers by more than $100 billion through the anti-corruption probe, which saw hundreds of elite princes, ministers, and businessmen held at the luxury hotel.