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.
We really do need to immediately raise taxes so we can afford the tasks necessary to providing our children and their children a realistic opportunity for a healthy and sustainable future.
In fact, they see how TransAfroAmerica is stealing assets from Russian businesses.
That's called 'cashin in' ....smart
And?
America lies and falsification of facts
Because he wants to develop his country, and he wants the country's income not to be only from oil. He is the intelligent prince, may God protect him
Equal to a pay stub.
“A representative for Prince Bandar said he has sold all his assets abroad 'because he saw bigger benefits to investing in the kingdom with the amazing job the crown prince is doing and creating all the investment opportunities.”
Property Property Latest News, Property Property Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: WSJ - 🏆 98. / 63 Read more »