The fabulous life of Saudi billionaire Prince Alwaleed

For two years, one of the world's wealthiest men, Prince Alwaleed bin Talal of Saudi Arabia, was locked in a battle with Forbes over his net worth, with the prince claiming the publication had underestimated his fortune by nearly $9.6 billion.

On Monday, the disgruntled billionaire and Forbes Media announced that the defamation suit has been settled on "mutually agreeable terms," Reuters reported.

The magazine currently has Alwaleed pegged as the 34th richest person in the world, with $22.6 billion in wealth. (Bloomberg lists Alaweed as the 20th wealthiest in the world, with $30.6 billion in wealth.)

Regardless, Alwaleed is still rich beyond belief from his stake in his Kingdom Holding Company, his Saudi real estate investments, shares in Arab media companies, and investments in public and private companies globally, including Twitter and Chinese e-commerce giant JD.com.

Lucinda Chen and Julie Zeveloff contributed to this post.