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DUBAI, United Arab Emirates

The Saudi prince who owns a double-decker "flying palace" and recently raised his bet on Citigroup lost $4 billion in the past year, according to a published report Sunday, showing that even the ultra-rich are getting pinched by the global financial crisis.

The pain is relative, of course. Prince Alwaleed bin Talal remains the world's richest Arab with a net worth of about $17 billion as of Dec. 2, Dubai-based magazine Arabian Business reported in its annual ranking. That is nearly twice as much as the second-richest on the list, but a considerable drop from the $21 billion the magazine said the prince was worth a year ago.

Arabian Business said it based its figure on a direct review of the prince's holdings and a face-to-face meeting with the man who's been dubbed "the Arabian Warren Buffett."

An official at Kingdom Holding Co., Alwaleed's investment company, did not immediately respond to a request for comment.

Alwaleed last month announced he would raise his stake in ailing banking giant Citi to 5 percent from less than 4 percent. The move has failed to significantly boost the bank's share price.

The Saudi royal's controlling stake in Kingdom Holding, which invests in well-known companies such as computer maker Apple Inc. and Rupert Murdoch's News Corp., accounts for nearly $8 billion of his wealth, the magazine said.

Alwaleed also owns Middle East media company Rotana Holding, and controls more than $3 billion worth of real estate, including a 124 acre personal resort complete with a private zoo.

And then there's the Airbus A380 "superjumbo" jet Alwaleed bought and had outfitted for his personal use. It's valued at $330 million -- a little less than the price tag for his other two jetliners combined.

No. 2 on the list with $9.6 billion is Nasser al-Kharafi, a Kuwaiti businessman who holds the Middle East franchise for chains such as KFC, Hardee's and Pizza Hut. He's also the largest shareholder of Krispy Kreme Doughnuts Inc.

Another prominent name on the list: the Bin Laden family, which makes its money in the construction business. Arabian Business puts the net worth of the clan, which has tried to distance itself from its most notorious member, at $7.2 billion -- good for seventh place.

Altogether, the magazine said the world's 50 richest Arabs lost a combined $25 billion amid the global meltdown, much of it since the end of summer like investors elsewhere.

"The surprise is how much money everyone has lost," Anil Bhoyrul, editorial director of Arabian Business publisher ITP Executive Publishing Ltd., said in an interview. "The list we published is a lot different than the list we originally put together only a few months ago."

With a short hop, the Prince launches himself onto a canyon wall. He gracefully races across its face--circumnavigating a chasm that would send long jumpers plummeting to their demise--before dropping, safely, onto a rocky outcropping. A hop over the edge of his perch and he plummets. But instead of smashing on the stones below, he glides to the ground--his descent controlled by a taloned gauntlet biting into the rock.

It is like watching the purposeful yet effortless acrobatics of Chow Yun Fat and Michelle Yeoh in Hidden Tiger, Crouching Dragon. Only this is the new "Prince of Persia." Arriving in stores Tuesday, "Prince" returns to Persia--its fantastical vistas, acrobatics and swordplay--after a three-year hiatus from home consoles.

The hope: That by giving the franchise a rest and a fresh look, Ubisoft will increase consumer demand for the title.

Ubisoft's first "Prince of Persia," which was based on a series started by game designer Jordan Mechner in 1989, launched in 2003 to critical acclaim for its combination of wall-running acrobatics and slow-motion combat. Subtitled "The Sands of Time," the game has sold nearly 1.5 million copies in the U.S., according to market research firm NPD Group.

A year later, Ubisoft released the sequel, "Warrior Within." It was compared favorably with its predecessor but sold less than one million copies in the U.S. The 2005 version, "Two Thrones," sold only 883,000 copies.

Notice a pattern? No single factor can claim all the credit for the diminishing returns--be it new competition or consumers transitioning to new consoles--but part of the problem with "Prince" was Ubisoft's decision to release the title annually.

It is a tactic adopted by the industry's largest players like Activision Blizzard (nasdaq: ATVI - news - people ) and Electronic Arts (nasdaq: ERTS - news - people ). By pumping resources into existing brands, you can guarantee a certain amount of stability in your portfolio. That's one of the main reasons there's an annual update to EA's "Madden" and Activision's "Call of Duty."

LONDON, England (CNN) -- Saudi Prince and billionaire Al-Waleed bin Talal says he will build the world's tallest building, planned to be over a kilometer (3,281 feet) high. The tower will be built in the Saudi town of Jeddah and will be part of a larger project that will cost $26.7 billion, (100 billion Saudi riyals) said the Prince's firm, Kingdom Holding Company.

The project, entitled Kingdom City, will span 23 million square meters (248 million square feet) and will include luxury homes, hotels and offices.

The booming city of Dubai in the United Arab Emirates has also joined the skyscraper race.

While the ever-growing Burj Dubai is already the tallest man-made structure in the world, the Nakheel Tower is set to go even higher.

Developers suggest the finished building will be at least 1 km tall.

While in Europe, Paris is leading the skyscraper revolution -- plans for a 50-story building have been given the green light, which will make it the first skyscraper to be built in the city for 30 years.

These buildings are part of a new generation of innovative, exciting skyscrapers set to appear all over the world over the next 10 years.

ome truly mind-blowing structures are being planned for the Middle East.

Hot on its heels, the Burj Mubarak Al Kabir, proposed for the planned 'City of Silk' in Kuwait, could also break the 1000-meter barrier.

While they may be mere midgets compared to the mega structures of the Middle East, Russia Tower in Moscow and the Okhta Center Tower in St Petersburg promise to provide some stunning eye candy.

Spiraling its way through the Chicago skyline, the Chicago Spire will have a striking corkscrew design, while a gleaming Freedom Tower is to be the highlight of the rebuilt World Trade Center. And proving the skyscraper renaissance is a global phenomenon there are stylish giants planned for Panama, Pakistan and South Korea.