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Alwaleed's been freed:

Billionaire Saudi Prince Freed From Weeks-Long Ritz Detention

Saudi Arabia's internationally known billionaire businessman, Prince Alwaleed bin Talal, was released from his luxury hotel detention in the nation's capital on Saturday, family sources told multiple media outlets.

Alwaleed reportedly reached a financial settlement with the government before returning to his home, according to Reuters.

He was the most prominent person among those arrested when several of the country's most powerful princes, businessmen and government officials, among others, were swept up in an anti-corruption raid in early November and placed under house arrest at the Riyadh Ritz-Carlton.

The man behind the crackdown, Crown Prince Mohammed bin Salman, Alwaleed's cousin, was vague about the reasoning.

Shortly after the detention of 159 people, the attorney general said in a statement, "Based on our investigations over the past three years, we estimate that at least $100 billion USD has been misused through systematic corruption and embezzlement over several decades."

But in a process cloaked in covertness, it remains unclear exactly who was arrested, who has been freed and why.

In December, the attorney general said most detainees "agreed to a settlement." Reuters reports some 90 detainees have been released and had their charges dropped, while around the same number remain in detention, with some expected to face trial.

Many view the crackdown as a power grab — and a lucrative one at that — by the 32-year-old crown prince, who is King Salman bin Abdul-Aziz Al Saud's son and heir to the throne.

The New York Times reports that Mohammed has said the campaign could bring in more than $100 billion.

Alwaleed, 62, heads the investment firm Kingdom Holding Company, which has stakes in such Western behemoths as Twitter, Lyft and Citigroup.

Forbes estimates Alwaleed's net worth at $17.4 billion.

In an interview from the hotel hours before his release, Alwaleed told the wire service that he was innocent.

And he was eager to convey feelings of goodwill, despite being confined to what amounted to a plush prison, telling the wire service that he supports the crown prince's reform efforts and characterizing his detention as a misunderstanding.

"There are no charges. There are just some discussions between me and the government," Alwaleed told the wire service.

He gave Reuters a tour of his suite and gilded office at the Ritz, saying he was able to keep in touch with family as well as business executives.

"I have nothing to hide at all. I'm so comfortable, I'm so relaxed. I shave here, like at home. My barber comes here. I'm like at home, frankly speaking," he said.

Now that he has been freed, Alwaleed is expected to return to the business of managing his investment empire.

He told the wire service that he plans to continue living in Saudi Arabia.

"I will not leave Saudi Arabia, for sure. This is my country. I have my family, my children, my grandchildren here. I have my assets here," he said.

"My allegiance is not on the table."

www.npr.org/sections/thetwo-way/2018/01/27/581275565/billionaire-saudi-prince-freed-from-weeks-long-ritz-detention

Saudi billionaire Prince Alwaleed bin Talal released, family sources say

DUBAI: Saudi Arabian billionaire Prince Alwaleed bin Talal has been released from detention, family sources said on Saturday, more than two months after he was taken into custody in the kingdom’s sweeping crackdown on corruption.

His release came hours after he told Reuters in an exclusive interview at the opulent Ritz-Carlton hotel in Riyadh that he expected to be cleared of any wrongdoing and be released from custody within days.

Family sources said Prince Alwaleed was released on Saturday.

“He has he arrived home,” one told Reuters.

Saudi officials could not immediately be reached for comment and the terms of his release were not immediately clear.

A senior Saudi official said Prince Alwaleed was freed after he reached a financial settlement with the attorney general.

"The attorney general has approved this morning the settlement that was reached with Prince Alwaleed bin Talal, and the prince returned home at 11:00a.m. (0800 GMT)," the official told Reuters, without giving details of the terms.

Prince Alwaleed had been confined at the Ritz-Carlton since early November, along with dozens of others, part of Crown Prince Mohammed bin Salman’s plan to consolidate control and reform oil superpower Saudi Arabia.

In his first interview since he was taken into custody in November, Prince Alwaleed told Reuters he was continuing to maintain his innocence of any corruption in talks with authorities.

He said he expected to keep full control of his global investment firm Kingdom Holding Co. without being required to give up assets to the government.