Saudi Arabia reportedly announced today in a huge deal worth $1.5 billion. According to reports, the public investment fund, the investment arm of the government controlled by the Prince Muhammad bin Salman (MBS) has acquired 16.87% of the holding in the holding company of the richest man in the Arab world, Prince Al-Walid bin Talal.
But many in Saudi Arabia and abroad doubt that the prince will see one dollar coming into his pocket. In financial circles, the transaction is defined at best as a "takeover" of the state's assets by the state, and at worst, it is defined as a "robbery."
It will be recalled that Ben Talal was arrested in late 2017 as part of the large wave of senior detention initiated by Regent Ben Salman. After he was released, there were many reports that his assets had been "nationalized" and he was banned from going abroad. In the murky relationship between Ben Salman and Ben Talal, it is no wonder that many tend to express doubts about how this deal will be carried out ...