RIYADH (Reuters) - Saudi Arabian billionaire Prince Alwaleed bin Talal, one of the kingdom’s top international businessmen, was released from detention on Saturday, more than two months after he was taken into custody in a sweeping crackdown on corruption. Saudi officials said Saturday that Prince al-Waleed came to an undisclosed settlement with the government that allows him to remain chairman of his company, Kingdom Holding Co., one of the country’s biggest conglomerates.
– One of the richest men in the world is once again a free man, but it may have cost him a fortune. Saudi billionaire Prince al-Waleed bin Talal walked out of prison Saturday after being arrested on corruption charges as part of a sweeping roundup in November, reports Reuters. More precisely, he walked out of the Riyadh Ritz-Carlton, which has been turned into a prison of sorts for Saudi elite accused of wrongdoing. Prior to his release, Saudi authorities were reportedly seeking a financial settlement of $6 billion—yes, billion—from al-Waleed, though it is unclear what, if any, amount he paid, reports the Wall Street Journal. Neither the prince nor Saudi authorities have provided details about his release, including whether he has been cleared of wrongdoing. The corruption crackdown set in place by Crown Prince Mohammed bin Salman is widely regarded as more of a bid on his part to consolidate power as he institutes wide-ranging reform throughout the country. So far, the government has secured about $100 billion in settlements from those rounded up, though nearly 100 have not paid and face prosecution.