Prince Mohammed’s grip on the House of Saud’s vast fortune is tightening
By DEVON PENDLETON / BLOOMBERG
IT WAS an unprecedented move against once-inviolable power figures in the kingdom, framed as a crackdown on corruption.
To pull it off, Crown Prince Mohammed Salman (picture) turned the marble-floored Ritz-Carlton in Riyadh into a prison in November 2017 for hundreds of men. Many of the captives — some of them his relatives and princes in their own rights — were released only after agreeing to sign over to the government assets including land, cash and business stakes. The total recovered, Saudi authorities said, was some US$107 billion (RM449.24 billion).
That sensational show of power upended decades of unwritten rules within the secretive House of Saud and effectively sidelined