Saudi authorities are demanding at least $6 billion from Saudi Prince al-Waleed bin Talal to free him from detention, people familiar with the matter said, potentially putting the global business empire of one of the world’s richest men at risk, Wall Street Journal reports.
The 62-year-old prince was one of the dozens of royals, government officials and businesspeople rounded up early last month in a wave of arrests the Saudi government billed as the first volley in Crown Prince Mohammed bin Salman’s campaign against widespread graft.
The Saudi government has disclosed few details of its allegations against the accused, many of whom have since been released from detention in a makeshift prison at the Riyadh Ritz-Carlton after negotiating financial settlements. The $6 billion Saudi officials are demanding from Prince al-Waleed, a large stakeholder in Western businesses like Twitter, is among the highest figures they have sought from those arrested, some of the people familiar with the matter said.
The prince’s fortune is estimated at $18.7 billion by Forbes, which would make him the Middle East’s wealthiest individual.