Al-Walid bin Talal receives a fatal blow after Mohammed bin Salman “dragged” him into the “Ritz” and led him to the abyss!

Saudi billionaire Prince Alwaleed bin Talal has suffered an unprecedented financial blow in recent years.

The hard blow is the loss of the company “Kingdom Holding”, owned by Walid Bin Talal,
1.3 billion riyals ($ 364 million), in the first nine months of this year.

The Kingdom Holding Company made profits of 400 million riyals in the same period last year.
Kingdom Holding has influential investments and holdings in many local and international companies.
The company said: “ The reason that losses in the current period compared to the same period of the previous year are recorded is due to the decrease in the share of the company in the results of the invested companies. on an equity basis, in addition to the decrease in hotel and other operating income, the increase in other losses, as well as the increase in zakat fees despite the decrease in costs. Hotel operation and reduction of general, administrative and marketing expenses. “According to the German press agency

Prince Al-Walid bin Talal was held for three months during a campaign led by Saudi Crown Prince Mohammed bin Salman, alleging the fight against corruption, in 2017.

Prince Alwaleed was released after financial deals with Saudi authorities.

According to previous Western reports, Saudi authorities have asked businessman Prince Al-Waleed bin Talal to pay up to $ 7 billion for his release.

Earlier, the Financial Times newspaper reported that Al-Walid had offered to transfer his 95% stake in Kingdom Holding Company to the Saudi government in exchange for his release. But the government demanded that payment be made in cash or through an agreement that included cash and stocks.

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