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.
7. Boeing 747-300 - $83M
6. Airbus A321 - $114.9M
5. Kingdom Palace - $130M
The palace is located in the Saudi Arabian capitol, Riyadh, and it contains 317 rooms "adorned with 1,500 tons of Italian marble, silk oriental carpets, gold-plated faucets and 250 TVs. It has four kitchens, for Arabic, Continental and Asian cuisines, and a fifth just for dishing up desserts, run by chefs who can feed 2,000 people on an hour's notice. There is also a lagoon-shaped pool and a 45-seat basement cinema" (TIME).
Honorable Mentions:
Al-Waleed also owns two other palaces, but their values are not publicly known. The two palaces, however, is reported to be much bigger (500,000-square-foot Kingdom Resort and 4,000,000-square-foot Kingdom Oasis) and greater in opulence.
4. Kingdom 5KR (superyacht) - $291M (adjusted to inflation as of 2016)
This 281-feet superyacht is the 60th largest yacht in the world. With the interior renovation costs included, the yacht is estimated to cost over $500M. It was featured in Never Say Never Again, a James Bond film, and served as the inspiration for Queen's 1989 song, "Khashoggi's Ship" (back when it was owned by another Saudi billionaire Adnan Khashoggi).
3. 90-percent ownership of the Lebanese Broadcasting Corporation
Unknown value, but is one of the largest private television station in Lebanon. The LBCI's satellite channel covers Lebanon, the Arab World, Europe, America, Australia, and Africa.
2. 81-percent ownership in Rotana Group (and 91-percent stake in its subsidiary, Rotana Records)
Unknown net value, but remains the Arab World's largest entertainment company with a record label (Rotana Records is the largest record label in the Arab World, too), a film production company, a magazine, a television network, seven music radio stations, and the list goes on.
1. 95-percent stake in Kingdom Holding Company - $10.6B (Forbes)
This is the company which served as al-Waleed's stepping stone into the investment business, and it has served him well. The company has invested in many noteworthy companies, including Twitter, Citigroup, Amazon, and McDonald's to name a few. Al-Waleed remains Citigroup's largest individual shareholder.
