Billionaire venture capitalist Saudi prince arrested!

RIYADH, Saudi Arabia (PNN) - November 5, 2017 - Saudi Arabian Prince Alwaleed bin Talai, the prominent billionaire investor, has been arrested. He is one of the richest and most influential investors in the world. He has big investments in Twitter, Lyft and Citigroup. He has gone into business with Bill Gates, Rupert Murdoch and Michael Bloomberg. Prince Alwaleed made early bets on some of the technology world’s biggest stars - riding a boom that catapulted many young entrepreneurs to top the rich lists - that earned him handsome returns. Prince Alwaleed also made an early bet on JD.com, a Chinese online retailer, anticipating that country’s emergence as a vast e-commerce market.

Alwaleed has a net worth of about $18 billion.

At least 10 other princes, four ministers, and dozens of former ministers were also arrested. King Salman decreed the creation of a powerful new anticorruption committee led by his favorite son and top adviser, Crown Prince Mohammed bin Salman.