Will this expensive home in Versailles pose as a problem for this Saudi Arabian prince?
| Dec 18, 2017, 13:26 IST
Saudi Arabia's Crown Prince Mohammed bin Salman bin Abdulaziz Al Saud is currently heading an anti-corruption probe and wealth accumulation at home that saw more than 200 princes and dozens of former ministers being detained. Although the crown prince was lauded for his efforts, there's now news that the prince is the owner of a $300 million chateau near Versailles, France. According to a report in a leading International newspaper, Chateau Louis XIV landscaped in a 57-acre park in Louveciennes, near Versailles, was sold anonymously in 2015, with a leading magazine calling it the "world's most expensive home".
Reports suggest that the chateau's ownership was hidden through various shell companies in France and Luxembourg, all of which are owned by a Saudi firm led by the head of Prince Mohammed's personal foundation. Sources close to the Saudi royal family said the purchase was for the crown prince. Although a lot of reforms are being made under the crown prince's rule, including the recently lifted ban on cinemas after 35 years, this new revelation could prove to be a problem for his anti-corruption probe. Stay tuned for more updates.
Reports suggest that the chateau's ownership was hidden through various shell companies in France and Luxembourg, all of which are owned by a Saudi firm led by the head of Prince Mohammed's personal foundation. Sources close to the Saudi royal family said the purchase was for the crown prince. Although a lot of reforms are being made under the crown prince's rule, including the recently lifted ban on cinemas after 35 years, this new revelation could prove to be a problem for his anti-corruption probe. Stay tuned for more updates.