Kingdom’s senior princes are trying to raise cash and avoid scrutiny from Crown Prince Mohammed bin Salman
Saudi Arabia plans to build Neom, a futuristic megacity in the middle of the desert. But residents resisting evictions and a historic collapse in oil prices have raised new questions about the project. RIYADH, Saudi Arabia—Saudi princes have sold more than $600 million worth of real estate, yachts and artwork in the U.S. and Europe since the kingdom’s de facto ruler tightened the purse strings of the ultrawealthy ruling family.
The transactions represent a radical change of fortune for senior princes who funneled windfalls from oil booms in the 1970s and 1980s into some of the world’s most exclusive markets. The vast sums of money were spent largely on hard-to-sell assets or drained by spending that reached $30 million a month for some royals with large staffs and lavish lifestyles, making them vulnerable to recent changes in government policy.
Source: Entertainment Trends (entertainmenttrends.net)
And they Buy Bitcoin... 🤝
Saudi citizens suffered for years of the corrupted politicians, MBS has stopped them and this is was our demands, that’s why their investment will decrease in US
Awww?
fearing the West will seize them as they did with Russian oligarchs, royals, businessmen, bankers etc. are rushing to sell or pull their assets out of the West.
So he's a frugal, reporter murdering butcher that is hastening global warming and committing atrocities in Yemen. Got it.
I heard they are investing all of their fortune in the Metaverse and collecting supremes collaboration with samsung refrigerators
💢👇🏼💢
BREAKING!👀🤭😱🤯
600 million dollars collectively amongst the sauds is like my family tryint to cut back on fancy plastic bags at Costco. It's like 36 bucks to a reg person. This isn't news. When they move 100 Billion dollars? Then we can talk .
Peanuts 🥜
The message is that MBS is going after corruption ! He is cleaning the mess
Being biggest beneficiary of Islam, soudi Arabia has moral obligation to modernise religion to be humane. So that future generations Remember their good work.
Can he also make a move that will allow all OPEC countries to sell oil in currency other than US dollars ?
Between them and Russian oligarchs will flood the market
MBS sure likes to cut things
Awww...the filthy few are nervous oil monies won't flow in in the future.
Meaning they anticipate sanctions from the West. Probably because they will drop the dollar and move on to yuan.
600 million is peanuts to them
Oil = cash and cash = oil. We are going to find out which will be impacted the most Stocks are already bleeding, real estate all time high, it’s all about matter of time
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