As part of a series of arrests officially destined to fight against corruption, Saudi prince Alwaleed Bin Talal was arrested this weekend in Saudi Arabia.
This weekend the Wahhabi monarchy launched a campaign that has been referred to as a purge by several Western media. A number of high dignitaries and Saudi personalities were arrested. The power struggles, particularly exacerbated by tension with Qatar and doubts about the strategy of alliances in the Middle East, continue to serve as a backdrop for Riyadh.
Alwaleed Bin Talal, one of the richest men in the world, and undoubtedly one of the most famous Saudi citizens in France and world wide, is one of the victims of these arrests which claimed to be the work of Crown Prince Salmane. A billionaire, the prince is also a hotel owner, most notably of the George V hotel in Paris, through Kingdom Hotels Investment. On top of these real estate properties, the prince also holds shares in the capital of Mövenpick (33%) and Accor (around 5%), where his representative was seated next to Qatari representatives at the French group's board meeting a few months ago.
The prince is one of those figures whose path and properties have been detailed in our study on the luxury hotel owners in France. The George V Hotel has not yet reacted to this announcement.
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