Crackdown on Billionaires and Other Top Officials Shakes Up Saudi Arabia

  • Saturday purge brings crown prince closer than ever to power
  • Investor Alwaleed arrested as part of anti-corruption drive
Eurasia Group’s Ayham Kamel weighs in on King Salman’s move to arrest a string of high-profile nationals.(Source: Bloomberg)
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Even by the standards of Crown Prince Mohammed bin Salman, whose meteoric ascent has put him on the cusp of the Saudi throne at the age of 32, the Saturday night crackdown was stunning.

In just a few hours, security forces arrested princes, billionaires, ministers and former top officials as soon as King Salman announced a sweeping anti-corruption drive. Those detained included billionaire Prince Alwaleed bin Talal, who was picked up at his desert camp outside Riyadh, according to a senior Saudi official. Before midnight, the suspects’ names were already being leaked to local media, first as initials and later in full. Saudi media put the total of those in custody at more than three dozen, including 11 princes and four ministers and former officials. No charges have been officially announced.