Keyword: Al-Waleed Bin Talal

Why detention of billionaire Saudi prince worries the Élysée

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Prince Al-Waleed's visit to the Élysée in early September 2017. © DR Prince Al-Waleed's visit to the Élysée in early September 2017. © DR

The ultra-wealthy Saudi prince Prince Al-Waleed Bin Talal, the owner of the George-V hotel in Paris, remains in detention in Riyad, one of a number of prominent people in the regime who faces claims of corruption. Prince Al-Waleed is an important figure in France and not just because he owns a prestigious hotel here. The billionaire is a key player in a partnership between the French public sector financial institution the Caisse des Dépôts et Consignations (CDC) and a Saudi investment fund. One of his advisers was also a supporter of President Emmanuel Macron's En Marche! party. As Karl Laske reports, this helps explain why the Élysée is keeping a close eye on what happens to the Saudi prince.