Eleven Saudi Arabian princes and more than 30 ministers were arrested on Saturday in a clampdown on money laundering and corruption.
The arrests were ordered just hours after Saudi King Salman set up an anti-corruption committee, headed by Crown Prince Mohamed Bin Salman.
Among those arrested was billionaire Prince Al-Waleed Bin Talal. The prince owns more than 3o million shares of Twitter stock, having invested $3 million in the tech giant in 2011. He is the second-largest owner of the company, and also holds large stakes in both Citi and NewsCorp, the parent company of the Wall Street Journal and the New York Post. Bin Talal frequently appears on CNBC, and has been known to criticize President Donald J. Trump.
Others who were arrested or forced to step down include:
- Miten Bin Abdullah – Head of the National Royal Guards
- Adel Fakeih – Minister of Economy and Planning
- Adm. Abdullah bin Sultan bin Mohammed Al-Sultan – Commander of the Saudi Naval Forces
Members of the Saudi royalty class have had their private planes grounded.
These event occurred just hours after the Saudis intercepted a Yemeni missile over the capital city of Riyadh.