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Prince Talal refuses to pay $6 Billion for freedom, moved to high-security prison

Prince Talal refuses to pay $6 Billion for freedom, moved to high-security prison
Photo: AFP

RIYADH: Saudi Arabia’s billionaire prince Alwaleed Bin Talal, has been transferred to the kingdom’s highest-security prison after refusing to pay a reported $6 billion for their freedom.

Prince Talal has been held and kept under arrest along with his fellow princes and top officials in opulent Ritz Carlton hotel has been moved out of his restricted quarters by Saudi authorities to a real Al-Ha’ir Prison, located south of Riyadh.

The prince has been detained for more than two months now by the government controlled by the new Crown Prince Mohammed Bin Salman.

Not only $6 billion, Prince Talal also decline to hand over control of some of his investment companies demanded by Bin Salman, who came to power last summer.

Nephew of Saudi King Salman, Prince Talal has worth over $17 billion, according to Forbes and presently the world’s 64th richest person.

He was once dubbed the ‘Arabian Warren Buffett.’

The 62-year-old billionaire, who owns stakes in Twitter, ride-hailing firm Lyft, Time Warner and Citigroup, was arrested in November 4, 2017, along with dozens of major Saudi royals, top government officials, businessmen and other elites in a national”anti-corruption” sweep.

Later, the Saudi authorities allows some of the detainees to cough up 70 percent of their assets in exchange for freedom.