Saudi Lawyer's $2B Pierre Hotel Bid Would Evict Owners Who Vote No — and They Had No Say in the Price

Executive Briefing

• Reveals Motasem Khashoggi, Harvard-educated Saudi lawyer, as beneficial owner behind the $2 billion Pierre Hotel bid
• Requires two-thirds shareholder approval this fall; dissenting owners face eviction and forfeiture of sale proceeds
• Shows shareholders were handed sealed envelopes with forced sale prices, with no input on valuation terms
• Highlights conflict of interest as Commerce Secretary Lutnick's sons broker deal while he profits as penthouse owner
• Notes rival bidder Taj Group offered $300M in renovations without displacing residents or firing 700 employees
• Warns sale could set citywide precedent threatening co-op ownership protections across New York