A horde of cash-strapped Saudi princes are selling hundreds of millions of dollars in assets to sustain their opulent lifestyles—and avoid the attention of Crown Prince Mohammad bin Salman. “These people don’t work, they have huge staffs and they’re afraid of [Prince Mohammed],” a source toldCollectively, some princes have sold everything from a $155 million mansion in England to 200-feet yachts.
One motivation for the sales is to prevent the Crown Prince from hovering over them. Bin Salman has garnered a reputation for curtailing any person, relative or not, he deems to be a threat to his regime, so some of the royals hope the sales will lower their profiles, according to theThe Saudi regime is aware of the sales, including some by former ambassador to the U.S.
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WSJ News Exclusive | Saudi Royals Are Selling Homes, Yachts and Art as Crown Prince Cuts IncomeSaudi Arabia’s senior princes have sold more than $600 million worth of real estate, yachts and artwork as they try to raise cash and avoid scrutiny from de facto ruler Crown Prince Mohammed bin Salman. “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.” Equal to a pay stub. 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
Source: WSJ - 🏆 98. / 63 Read more »
Saudi Royals Are Selling Homes, Yachts and Art as Crown Prince Cuts IncomeSaudi Arabia’s senior princes have sold more than $600 million worth of real estate, yachts and artwork as they try to raise cash and avoid scrutiny from de factor ruler Crown Prince Mohammed bin Salman. 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 Meaning they anticipate sanctions from the West. Probably because they will drop the dollar and move on to yuan.
Source: WSJ - 🏆 98. / 63 Read more »
Saudi Royals Are Selling Homes, Yachts and Art as Crown Prince Cuts IncomeSaudi Arabia’s senior princes have sold more than $600 million worth of real estate, yachts and artwork as they try to raise cash and avoid scrutiny from de factor ruler Crown Prince Mohammed bin Salman. 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 Meaning they anticipate sanctions from the West. Probably because they will drop the dollar and move on to yuan.
Source: WSJ - 🏆 98. / 63 Read more »
WSJ News Exclusive | Saudi Royals Are Selling Homes, Yachts and Art as Crown Prince Cuts IncomeSaudi Arabia’s senior princes have sold more than $600 million worth of real estate, yachts and artwork as they try to raise cash and avoid scrutiny from de facto ruler Crown Prince Mohammed bin Salman. “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.” Equal to a pay stub. 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
Source: WSJ - 🏆 98. / 63 Read more »