Saudi Arabia's Crown Prince Goes After the Bin Ladens

Haaretz ^ | Jun 05, 2018 | Zvi Bar'el

[TigerLikesRooster]

Saudi Arabia's Crown Prince Goes After the Bin Ladens

The kingdom’s business leaders apparently realize they’d better work with Mohammed bin Salman lest they lose the rest of their whittled-down holdings

Zvi Bar'el Jun 05, 2018 12:31 PM

Saudi Crown Prince Mohammed bin Salman isn’t about to rest on his laurels. First he reached accords with several dozen of Saudi Arabia’s richest men, including ministers and family members. They were arrested in November and held until they agreed to part with significant chunks of their wealth, which freed them from their luxurious captivity in the Riyadh Ritz-Carlton.

And now the crown prince is going after bin Laden — of course not the Al-Qaida founder killed by U.S. Navy SEALs in 2011, but the family company, construction giant Saudi Binladin Group.

Last week Reuters broke the story, reporting that Riyadh had seized management control of the company from bin Laden family members who were “swept up in an anti-graft drive.”

Osama bin Laden was part of that family, but the company cut ties with him.

At its peak, Binladin Group, founded in 1931, employed more than 100,000 people in 537 companies. Mohammed bin Salman’s takeover began in January, when he forced the company to shake up its board of directors, adding two Mohammed cronies.

Binladin Group is now set to hand over 35 percent of its shares to the state, losing its status as a family-owned publicly-traded company. It will become subject to the indirect management of Mohammed.

[lee martell]

Good luck with that. The surviving Bin Ladens remain very wealthy, bitter and dangerous. Many of Osama’s sons have vowed vengeance on the West for his ‘death’.

[Nifster]

Well I believe they just met their match.

[SunkenCiv]

Thanks TigerLikesRooster.

[Zhang Fei]

[Good luck with that. The surviving Bin Ladens remain very wealthy, bitter and dangerous. Many of Osama’s sons have vowed vengeance on the West for his ‘death’.]

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The Osama branch is supposedly disinherited. In reality, who knows? I think the Saudi royals understand that the bin Ladens inflicted a huge black eye on the kingdom wrt to the US security guarantee. It wouldn’t surprise me if the Saudi royals seized the entire business and deported the bin Ladens back to Yemen.

[prophetic]

I would think a dark hole in Israel or Poland would be more appropriate and then for not to see any daylight for the next 25 yesrs.

[mewzilla]

MbS is alive, huh? Or is he still having a weekend at Bernie’s?

[TigerLikesRooster]

Saudis put out photos of him meeting with foreign dignitaries.

He seems to be laying low, though. Security precaution?