Billionaire prince dubbed the ‘Warren Buffett of Saudi Arabia’ freed from detention at luxury Ritz-Carlton hotel
Prince Alwaleed bin Talal had been held since November 4, when he was detained in the anti-corruption probe spearheaded by younger cousin, Crown Prince Mohammed bin Salman
Saudi billionaire Prince Al-Waleed bin Talal was released on Saturday after nearly three months in detention following a “settlement” with authorities, as a sweeping anti-corruption campaign targeting the kingdom’s elite winds down.
Prince Al-Waleed, dubbed the Warren Buffett of Saudi Arabia, was the most high-profile detainee among 350 suspects rounded up since November 4, including tycoons and ministers, who were held in Riyadh’s luxury Ritz-Carlton hotel.
The prince was released following an undisclosed financial agreement with the government, similar to deals that authorities struck with most other detainees in exchange for their freedom.
“The attorney general this morning approved the settlement with Prince Al-Waleed bin Talal,” paving the way for his release, a government source said without disclosing figures.
When asked whether the prince was still the head of his publicly listed Kingdom Holding Company, the source who asserted he was guilty of corruption replied: “For sure”.
A business associate also confirmed that the tycoon had been released.