The Detained Billionaire Prince Al-Waleed Bin Talal And His Many Assets
How did businessman al-Waleed become Crown Prince Mohammad bin Salman's top political target?
https://www.theodysseyonline.com/detained-billionaire-prince-al-waleed-bin-talal-assets
As one of the first to be arrested during the Saudi Arabian purge, Al-Waleed bin Talal, a prince of the Saud royal family, was brought to and detained in the Ritz-Carlton in the Saudi Arabian capital city of Riyadh. Though the purge includes many princes, politicians, and businessmen, many media outlets' focus remains on this man.
Prior to his arrest, Mutaib bin Abdullah, the son of the late King Abdullah, was possibly the biggest political opposition to Crown Prince Mohammad bin Salman, who ordered the string of arrests, and yet, US and West European media have kept their spotlight on al-Waleed.
Al-Waleed bin Talal is a grandson of Ibn Saud, the first Saudi king, and thus a half-nephew to all of the Saudi kings since, but in the grand scope of the House of Saud, he isn't a big threat to Mohammad bin Salman's attempt in consolidating support for when he takes the crown. Yet, the allegations against al-Waleed include "money laundering, bribery and extorting officials" (Reuters)
Along with all of the other detained members, al-Waleed's assets and bank accounts have been frozen and targeted by the Saudi government.
So why is this man so important that many overlook the death of Prince Mansour bin Muqrin, who died while allegedly fleeing Saudi Arabia in his private helicopter, and that he casts a shadow over all of the other princes? One word: Money.
The investor, philanthropist, and businessman is approximately worth $18 billion and stands in as the 45th richest human being in the world, according to Forbes' Billionaire's List, but as expected, his net worth has fallen by $2 billion after his arrest and I don't doubt it'll continue falling. So before the Crown Prince exiles al-Waleed and take over all of his possessions, let's have a look at what makes up his current $16 billion.
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Boeing 747-300 - $83M
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Airbus A321 - $114.9M
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Kingdom Palace - $130M
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Kingdom 5KR (superyacht) - $291M (adjusted to inflation as of 2016)
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90-percent ownership of the Lebanese Broadcasting Corporation
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81-percent ownership in Rotana Group (and 91-percent stake in its subsidiary, Rotana Records)
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95-percent stake in Kingdom Holding Company - $10.6B (Forbes)