11 princes held as leader tries to consolidate power

LONDON — Saudi Arabia announced the arrest Saturday night of prominent billionaire investor Prince Alwaleed bin Talal, plus at least 10 other princes, four ministers and tens of former ministers.

The announcement of the arrests was made over Al-Arabiya, the Saudiowned satellite network whose broadcasts are officially approved.

The reports in Al-Arabiya and from other sources that Alwaleed was among those arrested were sure to send shock waves both through the kingdom and the world’s major financial centers.

Alwaleed, who controls the investment firm Kingdom Holding and is one of the world’s richest men, has major stakes in News Corp, Time Warner, Citigroup, Twitter, Apple, Motorola and many other well-known companies. He also controls satellite television networks watched across the Arab world.

The sweeping campaign of arrests appears to be the latest move to consolidate the power of Crown Prince Mohammed bin Salman, the favorite son and top adviser of King Salman.

At 32, the crown prince is already the dominant voice in Saudi military, foreign, economic and social policies, stirring murmurs of discontent in the royal family that he has amassed too much personal power, and at a remarkably young age.

The king had decreed the creation of a powerful new anti-corruption committee, headed by the crown prince, only hours before the committee ordered the arrests.

Al-Arabiya said that the anti-corruption committee had the right to investigate, arrest, ban from travel or freeze the assets of anyone it deemed corrupt.

The Ritz Carlton hotel in Riyadh, the de facto royal hotel, was evacuated Saturday, stirring rumors that it would be used to house detained royals. The airport for private planes was closed, arousing speculation that the crown prince was seeking to block rich businessmen from fleeing before more arrests.

President Trump has developed a warm, mutually supportive relationship with the ascendant crown prince, who has rocketed from near obscurity in recent years to taking control of the country’s most important functions.

But his swift rise has also divided Saudis. Many applaud his vision, crediting him with addressing the economic problems facing the kingdom and laying out a plan to move beyond its dependence on oil.

Others see him as brash, power-hungry and inexperienced, and they resent him for bypassing his elder relatives and concentrating so much power in one branch of the family.