Saudi Crown Prince Mohammed bin Salman has reportedly invested $51 billion in a Japanese firm to manage his personal wealth across Saudi Arabia and the world. This massive expenditure is part of bin Salman’s growing financial empire, which he has expanded through his control over Saudi Arabia’s resources. According to financial experts, bin Salman chose a foreign firm over local Saudi companies due to concerns about potential leaks of information on his assets and investments.
The Japanese firm, whose employees are subject to strict security checks by Saudi state security, operates directly within bin Salman’s palace in Riyadh. This arrangement reflects the Crown Prince’s tight grip over his wealth management and the lengths he is willing to go to maintain confidentiality.
Bin Salman’s Extensive Wealth
In a 2018 interview on CBS’s “60 Minutes,” bin Salman estimated his personal wealth to be over a billion dollars. However, investigations and leaked documents, such as the Panama Papers and Paradise Papers, have revealed more extensive assets, linking him to around 20-25 companies across real estate, manufacturing, and telecommunications. Some of his well-known acquisitions include the $300 million Château Louis XIV in France, a $320 million luxury yacht named Serene, and a stake in a Saudi telecommunications firm valued at approximately $30 million.
These revelations have highlighted his expansive wealth, including assets like a luxury resort in South Africa, shares in various private companies, a fish farm, and a petrochemical transportation company. Bin Salman has been reticent to discuss the royal privileges that have contributed to his wealth, stating previously that he disregards criticism about his lifestyle.
Consolidating Power and Assets
Since assuming effective power, bin Salman has consolidated his wealth by targeting prominent figures within Saudi Arabia, detaining them in the Ritz-Carlton in Riyadh and securing their release only after they surrendered assets, which the government valued at around $107 billion. This bold move not only fortified his financial standing but also asserted his dominance within the kingdom.
For decades, members of the Saudi royal family have enjoyed various income sources, including facilitating international deals. Saudi Arabia, one of the world’s top arms importers, has historically maintained close ties with countries like the U.S., France, and the U.K., benefiting key Saudi figures financially. Throughout Saudi history, the line between state and royal finances has been blurred, furthering the perception of personal enrichment among the royals.
A Lifestyle of Extravagance
Bin Salman’s acquisitions reflect a lifestyle of luxury. Besides his stake in a Japanese wealth management firm, his assets include a rare Leonardo da Vinci painting, which he reportedly gifted to the UAE. The Crown Prince’s portfolio extends across diverse sectors, positioning him as one of the wealthiest royals in the world.
Critics argue that bin Salman’s extravagant lifestyle and use of state resources raise ethical concerns, especially in a country where poverty and economic hardship remain issues for ordinary citizens. The significant funds directed toward his private investments and luxurious assets underscore a broader debate about transparency, accountability, and the concentration of wealth among Saudi elites.
