Bloomberg has published an extensive report on the wealth of Saudi Crown Prince Mohammed bin Salman and his private financial privileges, noting that he has direct access to the kingdom's oil resources.

The report's author, Devon Pendleton, begins the campaign by the Saudi crown prince in November 2017 against several influential figures in the country.He said this was an unprecedented step that was described as part of the anti-corruption effort, but it was not.

Bin Salman turned the Ritz-Carlton hotel in Riyadh into a prison with hundreds of men.He signed an order to release them only after they abandoned many government assets, such as bonds, land and money, which the Saudi authorities estimated at $ 107 billion.

The spectacular offer led to the end of customary rules that had been in place for decades inside the House of Saud, as well as the removal of adversaries through the crown prince, and the young prince became the de facto ruler of the oil state and the unrivaled billionaire of a sprawling family business.

Oil and Aramco
Saudi Arabia's rulers control the state-owned company, which operates on a fifth of the world's oil reserves, said Stephen Hertog, a professor at the London School of Economics, author of The Princes, Mediators and Bureaucrats: Oil and the State in Saudi Arabia. Salman alone has direct access to Saudi Arabia's oil resources.

The news that Saudi Aramco's state-owned shares have been floated and reports on its revenues have revealed little about the true amount of wealth of Saudi rulers.

But he pointed out that the company is the most profitable in the world, paid about $ 170 billion in the form of fees, taxes and profits, and distributed directly to the state coffers.

Personal wealth
In an interview with Columbia Broadcasting's 60 Minutes program in March 2018, the Saudi crown prince estimated his personal wealth at more than $ 1 billion.

The Gulf States News, which advises on political risks, explained that the Crown Prince's extensive business interests have contributed to linking him to 20 to 25 companies specializing in real estate, manufacturing and communications, most of which were established in 2009.

Many other assets have been identified through information disclosed in the Panama Document leaks and Paradise Document leaks.

The IFJ has published details of bin Salman's overseas companies, including Crown Prince's purchases, such as the Louis XIV palace he bought in 2015 for $ 300 million.

Adding to the holdings are luxury yachts such as the Yacht Serene, which is one of the most expensive yachts in the world, worth $ 320 million.

Other assets include a South African resort and a stake in a Saudi telecom company worth about $ 30 million, as well as stakes in a number of private companies, including a bank and a real estate developer, as well as a fish farm and a petrochemical company.

Prince Salman does not like to talk too much about his royal privileges or how he helped make him wealthy. He has also said he does not pay attention to criticism.

The wealth of the princes
According to Bloomberg's estimates, Saudi princes have a wealth of more than $ 100 billion distributed among about 15,000 people, but the author said such an assessment is very conservative, based mainly on salaries distributed by the private king's office to other princes and members of the royal family.

If the funds are invested in capital markets, the wealth of the Al Saud could reach $ 1 trillion, the agency says.

Throughout Saudi history, there has been no difference between state coffers and kings. In her book, The Saudi Company: Saudi Arabia's Pursuit of Profit and Power, Ellen Wald argues that the Saudi regime is absolutely monarchical.

For decades, members of the Al Saud family have had other sources of income, such as facilitating international government deals. The Kingdom has long been one of the largest arms importers in the world, mainly benefiting countries such as the United States, France and the United Kingdom.