# Khashoggi’s Billionaire Hotel Deal Stalls > Saudi billionaire Motasem Khashoggi’s $2 billion bid for New York’s Pierre Hotel faces delays after shareholders question his cash. - Title: Khashoggi’s Billionaire Hotel Deal Stalls · Vanity Fair - Summary: Saudi billionaire Motasem Khashoggi’s $2 billion bid for New York’s Pierre Hotel faces delays after shareholders question his cash. Khashoggi’s proposed… - Keywords: motasem khashoggi, pierre hotel, seahawks, nfl, sabre park avenue, cooperative board, lvmh, maybourne hotel group, dorchester hotel collection, taj hotels, us commerce secretary, central park - Source: Vanity Fair — https://vanityfair.com/story/pierre-hotel-khashoggi-deposit - Author: Noah Shachtman - Published: 2026-09-29T11:00:00+00:00 - Read time: 1 min - Topics: motasem khashoggi, pierre hotel, seahawks, nfl, sabre park avenue, cooperative board, lvmh, maybourne hotel group, dorchester hotel collection, taj hotels, us commerce secretary, central park ## Khashoggi’s Cash Claim Saudi businessman Motasem Khashoggi promised $2 billion for New York’s Pierre Hotel. > He totally has the $2 billion, they swore. ## Initial Deposit Plan Khashoggi’s team said $100 million deposit would flow immediately. > A wire transfer instruction has been issued to transmit the $100,000,000. ## Deposit Delay Three weeks later, the $100 million deposit hasn’t materialized. > Exactly why, I don't know. ## Board Response Co-op board canceled Khashoggi’s exclusivity and pushed vote to October. > The co-op board has yanked the exclusivity they granted Khashoggi to seal the deal. ## High-Profile Buyers Mark Zuckerberg, Michael Dell, and the King of Morocco all passed on the deal. > A variety of high-profile figures including Mark Zuckerberg, Michael Dell and the King of Morocco were all approached to buy the Pierre. ## Building Challenges The 41-story Pierre needs $182 million in repairs and upgrades. > The 41-story building wasn’t just historic, it was old, and needed, at minimum, $182 million in repairs and upgrades. ## Khashoggi’s Background Khashoggi’s family lost money in the 1980s after Adnan sold his yacht to Trump. > Adnan, the arms dealer and great engine of the Khashoggi wealth, was even forced to sell his 242-foot yacht to Donald Trump. ## Corporate Report A corporate report questioned Khashoggi’s ability to fund the $2 billion deal. > The company’s registered capital of SAR 1,000,000 (approximately USD 266,00:00) does not align with the scale of the proposed Pierre Hotel transaction. ## Khashoggi’s Offer Khashoggi initially offered $150 million, later raised to $2 billion. > The initial offer was small, relatively speaking: $150 million, after expenses, for the hotel portion of the building. ## Shareholder Tensions Shareholders sued the board for transparency after Khashoggi’s offer emerged. > A group of shareholders, including Burch, Moonraker actress Lois Chiles, investor Austin Hearst, and philanthropist and animal-rights activist Tina Beriro, sued the board for more information. ## Khashoggi’s Email Khashoggi emailed shareholders about his family’s connection to the hotel. > I understand how personal this is. Growing up, my family stayed at the hotel whenever we visited New York. ## Eisner’s Move Larry Ellison bought a place one block south of the Pierre. > Eisner, who owns a pair of apartments at the Pierre and has openly fought with current management, just bought a place, just one block south on Fifth Avenue. ## What Happens Next The Pierre’s sale remains uncertain as shareholders await Khashoggi’s funds. > The co-op board has yanked the exclusivity they granted Khashoggi to seal the deal. ## Key takeaway Khashoggi’s proposed purchase of New York’s Pierre Hotel stalled due to unverified funds and shareholder skepticism.