Saudi Royals Are Selling Homes, Yachts and Art as Crown Prince Cuts Income

RIYADH, Saudi Arabia—Saudi princes have sold more than $600 million worth of real estate, yachts and artwork in the U.S. and Europe since the kingdom’s de facto ruler tightened the purse strings of the ultrawealthy ruling family.

The transactions represent a radical change of fortune for senior princes who funneled windfalls from oil booms in the 1970s and 1980s into some of the world’s most exclusive markets. The vast sums of money were spent largely on hard-to-sell assets or drained by spending that reached $30 million a month for some royals with large staffs and lavish lifestyles, making them vulnerable to recent changes in government policy.

To Read the Full Story

Read the full article

Trading Signals

Get Free Daily Trading insight

Follow US:

StocksJar Is A Comprehensive Investing Tool And Social Trading Network For Private Investors And Day Traders To Help Them To Gain An Advantage Before Trading.

this website uses cookies

We use cookies to ensure you get the best experience on our website. To learn more about cookies, including how to control cookies please read our cookies policy.