Saudi anti-corruption effort doesn't spare the rich in the Kingdom

NY Times:

Billionaire Investor Snared in Arrest of 11 Saudi Princes

  • Saudi Arabia’s sweeping campaign of arrests included Prince Alwaleed bin Talal, one of the world’s richest men and a major stakeholder in well-known American companies.
  • The move appeared to consolidate the power of King Salman’s son, who was appointed the head of a new anti-corruption committee hours before the arrests.
The first time I heard of Prince Alwaleed bin Talal was when he attempted to donate money to New York City after the 9-11 attacks and made the mistake of blaming the attacks on US policies.  Then Mayor Rudy Giuliani refused the donation.  He is also a large shareholder of Fox News.  Some have tried to tie the Price to funding of al Qaeda prior to the 9-11 attacks but that is disputed by many Americans who have studied al Qaeda and the attacks.

What does seem clear from the move is that the Crown Prince of Saudi Arabia is trying to consolidate power and removing those he sees as a threat to his succession.  So far, it is a bloodless consolidation of power.


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