Saudi Prince bin Talal is discovering who his true friends are, and it’s probably a lot fewer people than he thought. From Jake Novak at cnbc.com:
- Investing celebrity Prince Alwaleed bin Talal has now been detained and reportedly tortured for more than three weeks.
- The political and financial world has remained mostly silent or at least relatively calm about it.
- Here are the uncomfortable political and financial reasons his so-called friends appear to have abandoned him.
One of the world’s richest men and most sought-after investors has been under arrest and even reportedly tortured for more than three weeks.
That man is billionaire Saudi Prince Alwaleed bin Talal. He owns major stakes in Twitter and Citigroup. He was a key shareholder in 21stCentury FOX. His television interviews, including on CNBC, are promoted with “must-watch” status. He’s routinely called the “Warren Buffett of Saudi Arabia.”
But since November 5, bin Talal has been detained in a room at the Ritz Carlton in Riyadh. The hotel has become a de facto prison for more than 200 of his fellow princes and Saudi officials as new Crown Prince Mohammed bin Salman conducts a sweeping and stunning purge of his real and potential political opponents.