Saudi Arabia’s millennial crown prince is looking vulnerable - Business Insider
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Crown prince Mohammed bin Salman’s stewardship of the throne is being questioned.
Foreign investors were spooked by the recent crackdown on the Saudi elite.
Investors are worried that potential partners could fall victim to another corruption purge.
Mohammed bin Salman’s consolidation of power is believed to have alienated many in the royal family.
As the heir to the Saudi throne, Mohammed bin Salman prepares to head off on a round of visits to western capitals to promote investment in the kingdom, his ambitious economic plans and even his grip on power are being increasingly questioned.
There are big doubts over foreign investors’ willingness to back him in the wake of his recent shakedown of the Saudi elite; much debate about the amount of money he actually managed to raise; and suggestions that the episode, part of efforts to consolidate power, could backfire.
MbS, as the Crown Prince is known, has sought to draw a line under the recent detention of several hundred royals and prominent businessmen in Riyadh’s Ritz-Carlton Hotel, where they were reportedly forced to sign over assets in return for their freedom.
Most of the detainees have now been released.