Riyadh: Prince Al-Waleed bin Talal — the billionaire who was released after nearly three months in detention on Saturday — has been dubbed the “Warren Buffett of Saudi Arabia” for his vast business interests.
“He (Prince Al-Waleed) is out,” the associate said, The terms of his release were not clear. The Saudi information ministry did not respond to requests for comment. Authorities have previously said most of those detained struck monetary settlements in exchange for their freedom, which could earn state coffers about $100 billion.
No stranger to controversy and headlines, Prince Al-Waleed was the most high-profile detainee among 350 suspects rounded up since November 4 under a sweeping anti-graft campaign and held at Riyadh's luxury Ritz-Carlton Hotel.
He is the latest in a series of detainees to be freed from the hotel, as the campaign launched by Crown Prince Mohammed bin Salman draws to a close. Ranked among the richest men in the world, the 62-year-old investor is the grandson of two of the Arab world’s most prominent figures: King Abdulaziz Al-Saud, the founder of modern Saudi Arabia, and Riad al-Solh, Lebanon’s first premier.
Prince Al-Waleed first burst into the business-meets-politics scene in the late 1980s, when he began building what was to become a global empire of banks, luxury hotels and media holdings.
In 2015, he slammed US President Donald Trump on Twitter for his rhetoric during the US presidential campaign, calling him a “disgrace to America” and urging him to drop out. In response, Trump ridiculed him on Twitter as a “dopey prince”.
Prince Mohammed, Saudi Arabia’s future king, has since become a close ally of Trump. On the surface, the cousins appear to share the same views, both supporting increased rights for women in the kingdom. But reports of intense rivalry between the two have also long featured in royal circles.
The Kingdom Holding Company — in which the prince has a 95 per cent stake — owns The Savoy in London, the Fairmont Plaza and the famed George V hotel in Paris.
The prince, known for having a taste for luxury, has also invested in Lyft and Twitter. He is also an active philanthropist who donates, by his own account, millions of dollars each year to charities.
An arch defender of women's rights in a country where women face a raft of restrictions, and an outspoken proponent of political reform, the prince has never made a secret of his views.
