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Adnan Khashoggi

Date of death: Tuesday, 6 June 2017

Known asAdnan Khashoggi

Specialtyinternational businessman

Date of birth25 July 1935

Date of death 6 June 2017

A Saudi Arabian billionaire international businessman, best known for his involvement in arms dealing. He is estimated to have had a peak net worth of around US$4 billion in the early 1980s.
Khashoggi was born in Mecca, the son of Muhammad Khashoggi, who was King Abdul Aziz Al Saud's personal doctor. His family is of Turkish origin. Adnan Khashoggi's sister was author Samira Khashoggi who married businessman Mohamed Al-Fayed and was the mother of Dodi Fayed. Another sister, Soheir Khashoggi, is a well-known Arab writer (Mirage, Nadia's Song, Mosaic). Khashoggi was educated at Victoria College in Alexandria, Egypt, and the American universities California State University, Chico, Ohio State, and Stanford. Khashoggi left his studies in order to seek his fortune in business
Khashoggi headed a company called Triad Holding Company, which among other things built the Triad Center in Salt Lake City, which later went bankrupt. He was famed as an arms dealer, brokering deals between US firms and the Saudi government, most actively in the 1960s and 1970s. In the documentary series The Mayfair Set, Saudi author Said Aburish states that one of Khashoggi's first weapons deals was providing David Stirling with weapons for a covert mission in Yemen during the Aden Emergency in 1963. Among his overseas clients were defense contractors Lockheed Corporation (now Lockheed Martin Corporation), Raytheon, Grumman Aircraft Engineering Corporation and Northrop Corporation (which have now merged into Northrop Grumman).
Between 1970 and 1975, Lockheed paid Khashoggi $106 million in commissions. His commissions started at 2.5% and eventually rose to as much as 15%. Khashoggi "became for all practical purposes a marketing arm of Lockheed. Khashoggi would provide not only an entrée but strategy, constant advice, and analysis", according to Max Helzel, then vice president of Lockheed's international marketing.A shrewd businessman, he established companies in Switzerland and Liechtenstein to handle his commissions as well as developing contacts with notables such as CIA officers James H. Critchfield and Kim Roosevelt and United States businessman Bebe Rebozo, a close associate of U.S. President Richard Nixon. His yacht, the Nabila, was the largest in the world at the time and was used in the James Bond film Never Say Never Again. After Khashoggi ran into financial problems he sold the yacht to the Sultan of Brunei, who in turn sold it to Donald Trump for $29 million, who sold it for $20 million to Prince Al-Waleed bin Talal as part of a deal to keep his Taj Mahal casino out of bankruptcy

Source: Wikipedia

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