Political Risk

Crown Prince gains power after sweeping purge of Saudi officials

“They seemed untouchable. The head of a huge construction conglomerate. A prince who led Saudi Arabia’s elite national guard. A billionaire investor who was one of the richest people in the world. But in one breathtaking stroke, the men were detained by the Saudi authorities in a purge that began Saturday night and swept up some of the most powerful and recognizable names in the country, including members of the Saudi royal family, cabinet ministers, titans of media and industry, and former officials. The detainees included Prince Alwaleed bin Talal, a wealthy investor who owns major stakes in such companies as Twitter and Citigroup, according to an associate of his family.”

Source: Crown Prince gains power after sweeping purge of Saudi officials – The Washington Post

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