Wall Street: Bin Salman and Power … From Celebrating With Whores to Extreme Wealth

The American Wall Street Journal said that in the summer of 2015, boats carrying 150 women from Brazil and Russia docked on the island of Vila in the Maldives, and as soon as the girls arrived, they were transported in a golf cart to health clinics, tested for sexually transmitted diseases.

According to the newspaper, women were supposed to spend the most of the month with dozens of his friends” in a ceremony marking his appointment as crown prince to control the military and security services later.

The report added that bin Salman booked for his accompanying delegation the “Villa” resort for a month at a cost of 50 million dollars, where cell phones with cameras were banned. The American rapper “Pitbull” and K-pop star “Sai” sing some of their songs. This time, the young prince also bought a 439-foot-long “Serene” yacht for 429 million euros, as well as a palace near “Versailles”, with fountains and a moat, for more than $ 300 million.

.The newspaper indicated that bin Salman left the island after information, about these celebrations, was leaked and published in Maldivian newspapers. The report pointed out the trends of Bin Salman’s rule and how he plunged his country’s army into the Yemen war and imprisoned billionaires of businessmen and his relatives in “Ritz-Carlton” hotel in Riyadh. A security squad of “Bin Salman” assassinated journalist “Jamal Khashoggi” in Istanbul.

The report mentioned an incident in bin Salman’s life when he was 15 years old, one of his relatives told him that his father is not rich like the rest of the royal family. What is worse is that “Salman” was in serious debt. Friends of the family were shocked in the first decade of the current century when new spread in Paris that the contractors and employees of “Salman” had not received their salaries for 6 months.

Bin Salman declined to comment on his business interests or his rise to power. When a CBS reporter asked him about his spending in a TV interview two years ago, bin Salman said: “As far as my private expenses are concerned, I am a rich person, not a poor person.”

When he became 16, “bin Salman” was able to make about $ 100 thousand from selling the golden and luxurious watches he had obtained. This became the initial capital to start in the equity trading industry. In Salman decided to travel abroad after university, majoring at banking, communications or real estate. He did not expect real political power in Riyadh.

Wealth Building

Bin Salman focused on building wealth, establishing companies and acquiring stakes in other companies. In 2008, Bin Salman persuaded Verizon, through intermediaries, to bring the fiber-optic infrastructure to Saudi Arabia.

Verizon gain a minority stake in a joint venture in which the largest partner was one of Bin Salman’s many companies. While, the legal division of Verizon is headed by William Barr, who is now the attorney general of the United States.

The deal rose bin Salman’s status in his younger family. “Salman” boasted to a visitor after completing the deal, saying, “My son made millions for the family.” However, the deal did not last because Bin Salman Foundation did not have the expertise to implement the project.

The young prince’s trading shares were also hit. In 2013, organizers discovered suspicious trading patterns linked to accounts belonging to him and other princes.

The chief stock regulator in the kingdom, Mohammad al-Sheikh, investigated the matter and determined that a trader acting on behalf of “bin Salman” was responsible for the suspicious trading. The incident angered King Abdullah and expelled bin Salman from government affairs.

However, this setback was temporary, and even during the days of making money, Bin Salman was carefully studying how to gain a status in the royal court.

He knew how to make good relations with powerful old princes while he did not with other princes, such as expelling a former king’s widow from a palace that she refused to evacuate.

When “Salman” won

the throne, the ideas of “bin Salman” suddenly appeared in the public sphere.

On the day after the funeral of King “Abdullah”, “bin Salman” became in charge of the royal court. At four in the morning, “bin Salman” summoned officials and businessmen to meet later that day, and asked them whether the restructuring of the Saudi government by getting rid of the governing committees headed by “Abdullah” was a risky matter. Some advised him to be careful about unexpected consequences.