Saudi Arabia announced the arrest ,on Saturday night, of the prominent billionaire investor Prince Alwaleed bin Talal, plus at least 10 other princes, four ministers and tens of former ministers.
He controls the investment firm Kingdom Holding and is one of the world’s richest men, owning or having owned major stakes in News Corp, Citigroup, Twitter and many other well-known companies. The prince also controls satellite television networks watched across the Arab world.
Prince Alwaleed was giving interviews to the Western news media as recently as late last month about subjects like so-called crypto currencies and Saudi Arabia’s plans for a public offering of shares in its state oil company, Aramco.
The sweeping campaign of arrests appears to be the latest move to consolidate the power of Crown Prince Mohammed bin Salman, the favorite son and top adviser of King Salman.
The announcement of the arrests was made over Al Arabiya, the Saudi-owned satellite network whose broadcasts are officially approved for Saudia Arabia.