Saudis released resurface to $ 148 billion after Prince's crackdown

The authorities have limited life after prison for many of the targeted people, with travel bans and increased surveillance in the country.

Here is the latest status of four billionaires:

Prince Alwaleed bin Talal Al Saud

Release date: January 2018

Change in net worth since the day before his arrest: down from 4 billion USD to 15 billion USD

Without doubt the most prominent target of the crackdown, Alwaleed was released after 83 days of detention. He looked thinner but praised the rulers of the kingdom. Shortly afterwards, he told Bloomberg News that he had signed a confidential "confidential agreement" with the government and that the activities of his business empire had returned to normal. The shares of its investment group, Kingdom Holding Co., have fallen 22% since his arrest.

Alwaleed, the richest person in Saudi Arabia, holds a 95% stake in the company, which is half of his net worth. In October, Kingdom Holding had signed a $ 1 billion loan, its first funding since his arrest, and the company's chief executive announced last month that it was considering selling some real estate investments . Alwaleed, known to be a restless globe-trotter, would have been banned from traveling abroad. It has about $ 2.6 billion in badets outside the Middle East.

Mohammed Al Amoudi

Release date: January 2019

Change in net worth: down from USD 1.4 billion to USD 8.7 billion

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Al Amoudi, the second richest person in the country, was released on January 27, six weeks after Saudi officials confirmed his corruption charge and conviction for a trial. His fortune originated in a contract with the government under King Fahd and is now mainly related to badets located outside the kingdom.

He owns the largest fuel company in Sweden and is the largest individual investor in his home country, Ethiopia, where he owns gold mines, hotels and areas. farm. While his overseas operations continued to operate independently during his tenure, the status and control of his Saudi badets – which include a chain of petrol stations and an engineering company – are unclear. Al Amoudi is in good health and in good spirits and has met the leaders of his company, according to a person close to the billionaire, who asked not to be identified because he was not allowed to speak in public.

Saleh Kamel

Release date: January 2018 Change in net worth: down from 700 million US dollars to 3 billion US dollars

Kamel, a self-financed entrepreneur in the field of finance and health, is a pioneer of modern Islamic finance. His fortune comes from Albaraka Banking Group, based in Bahrain, and Dallah Albaraka, a sprawling holding company, which controls activities in the areas of health, real estate and food manufacturing.

Kamel was also one of the very first media moguls in Saudi Arabia. In the 1970s, he founded one of the first television production companies in the country and was one of the first investors in the Middle East Broadcasting Center, a regional media giant whose president, Waleed Al Ibrahim, was also arrested and released in January 2018.

After the emptying of the Ritz, the government took control of 60% of MBC, including shares owned by the Kamel family, while Al Ibrahim retained its 40% share, according to people close to the case.

Fawaz Alhokair

Released: January 2018 Change in net worth: down from $ 520 million to about $ 950 million US

Alhokair is co-founder and main shareholder of the Fawaz Alhokair Group, a franchised retail business that he created with his brothers in 1990. He was released after entering into an agreement with the government, said a senior official at l & # 39; era.

The company is preparing to sell 30 percent of its shares in its Arabian Centers mall unit, a list that had been put on hold following Alhokair's arrest. The company's shares – which it owns 23 percent, according to recent reports on the Saudi stock market – have fallen 41 percent since its detention.

Bloomberg