Versailles style for Saudi sun king preaching austerity

The Saudi crown prince leading a corruption crackdown that has led to dozens of his country’s wealthiest men being locked up has been revealed as the buyer of “the world’s most expensive home”.

The Chateau Louis XIV, a 4645 sq m palace near Versailles that Kim Kardashian once considered as a potential wedding location, was sold for 275 million in 2015. A New York Times investigation has revealed that the purchaser was Mohammed bin Salman. It showed a paper trail that leads from the purchase of the castle, which Forbes magazine has called the “world’s most expensive home”, to the heir to the Saudi throne. The claim is likely to embarrass the 32-year-old who is preaching fiscal austerity at home while leading a major crackdown on corruption and selfenrichment by the kingdom’s elite.

The New York Times said that Chateau Louis XIV’s ownership was concealed by various shell companies in France and Luxembourg. But they are all owned by Eight Investment Company, a Saudi firm run by the head of Prince Mohammed’s personal foundation, it said, basing its claims on information revealed in the Paradise Papers leak.

The purchase appeared to be one of several extravagant acquisitions by the prince, including a US$500 million yacht and a US$450 million Leonardo da Vinci painting. Eight Investment also recently bought an 250ha estate near Paris in Conde´-surVesgre, known as Le Rouvray.

The chateau is the work of Emad Khashoggi, a Saudi developer. In the grounds of the 23ha estate is a 2km maze with a replica of the Chateau de Versailles’ fountain of Apollo. The facade has a bronze and enamel clock identical to the one on the facade of Versailles.