4 ms·
Not unrelated: The House of Saud is losing a lot of money on the Credit Suisse rescue/buyout.
by mfringel 3y ago
Not unrelated: The House of Saud is losing a lot of money on the Credit Suisse rescue/buyout.
- realce 3y ago"Some estimates of the royal family's wealth measure their net worth at $1.4 trillion." A billion isn't worth losing sleep over here.
- whoisthemachine 3y agoBasically the worth of a nation given to one family.
- thinkindie 3y agoconsidering their grip on Saudi Arabia, that's the worth of a nation.
- kelipso 3y agoThat's how monarchies work
- whoisthemachine 3y agoYes, sorry, I know I was stating the obvious. It's rare that we see that wealth publicized and it took me by surprise.
- spaceman_2020 3y agoNothing that Aramco can't make up for in a few weeks. The House of Saud is sitting on the real money printer.
- esotericimpl 3y ago[dead]
- boeingUH60 3y agoOfficially, it's the Saudi National Bank that is getting burned. But, in an absolute monarchy, you might as well say it's Crown Prince MBS because there's no distinction. There's a reason why Forbes does not even rank royals' wealth. It's a futile journey trying to decipher what belongs to the king and what belongs to the state. But, note that the king must spend a lot on social services (free healthcare, free education (both local and foreign) in Saudi Arabia, etc., to please his countrymen, lest they revolt.