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How King Salman Spends His $2 Trillion Fortune
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00:00King Salman, the custodian of the two holy mosques and the length and breadth of Saudi Arabia,
00:04has a net worth that is simply fit for a king. A staggering $2 trillion. To put that into
00:09perspective, he could buy every single NFL team, fill each stadium with solid gold seats and still
00:14have enough change to purchase a small island or two. That's right, trillion, as in more zeros than
00:19a math textbook. But what does one do with that kind of cash? A private island? Check. A custom-made
00:24spaceship? Why not? But what's truly fascinating is how he chooses to spend his riches from lavish
00:29palaces to high-stakes investments. We're about to take a wild ride through the king's extravagant
00:34expenses inside King Salman's wealth portfolio. King Salman's opulence is hinged on giant investments
00:40and lifelong natural resources that will prevail for centuries to come. The royal family generates
00:45its vast wealth from substantial sources, including the royal diwan and the public investment funds.
00:50Still, none measures up to the trillion-dollar revenue from Saudi's Aramco oil company.
00:55The story of Saudi Aramco is a saga that begins in the early 20th century, a time when Saudi Arabia
01:00was a land of vast deserts and limited resources. The kingdom's fortunes changed dramatically in 1938
01:06with the discovery of oil in the Arabian Peninsula. This discovery marked the beginning of a new era,
01:12transforming Saudi Arabia from a nation reliant on pilgrimage revenues and agriculture into a global
01:17economic powerhouse. The origins of Saudi Aramco can be traced back to the concession agreement signed
01:22in 1933 between the Saudi government and Standard Oil of California, which later became Chevron.
01:27This agreement granted the American company the right to explore and extract oil in the region.
01:33The first successful oil well, known as Dhamam No. 7, struck oil in 1938, setting the stage for the
01:39kingdom's transformation. In the following decades, the Saudi government gradually increased its stake in
01:44the oil company, culminating in the full nationalization of Saudi Aramco in 1980. This transition marked a significant
01:50shift in control, with the Saudi government taking over the reins from American oil companies. The
01:55nationalization of Saudi Aramco was a strategic move that allowed the Saudi royal family to harness the
02:00immense wealth generated by the country's vast oil reserves. Saudi Aramco's growth and development have
02:06been nothing short of extraordinary. Today, it stands as the world's most valuable company, producing an
02:11astonishing 5.4 million barrels of oil per day. The company's operations span the entire oil supply chain,
02:17from exploration and extraction to refining and distribution. This comprehensive approach ensures that Saudi
02:23Aramco remains a dominant force in the global energy market. The wealth generated by Saudi Aramco flows
02:29directly into the coffers of the Saudi government and, by extension, the royal family. King Salman, as the head of the
02:35Al Saud family, benefits immensely from the profits of this oil giant. The company's market value soared past $2 trillion
02:41in 2022, even amidst global market instability. This resilience and dominance in the energy sector
02:47ensure that the royal family's fortune continues to grow year after year. The impact of Saudi Aramco
02:53on the Saudi royal family's wealth cannot be overstated. The company's profits fund the luxurious lifestyles of the
02:59Al Saud family, allowing them to indulge in extravagant spending on palaces, yachts and private jets. The wealth generated by Saudi Aramco also enables the royal family to wield significant influence on the global stage,
03:09shaping economic policies and international relations. Beyond personal wealth, Saudi Aramco plays a crucial role in the kingdom's economic strategy.
03:19The company is a key driver of Saudi Arabia's Vision 2030, an ambitious plan to diversify the nation's economy and reduce its dependence on oil.
03:27Through strategic investments and partnerships, Saudi Aramco is helping to pave the way for a more sustainable and diversified economic future for the kingdom.
03:35The historical context and development of Saudi Aramco are integral to understanding how King Salman and the Saudi royal family have amassed their wealth.
03:44From its humble beginnings as a concession agreement with an American oil company to its current status as a global energy powerhouse, Saudi Aramco has been the cornerstone of the Al Saud family's fortune, the king's vast estates and luxury life.
03:57As earlier established that King Salman's great wealth has competently funded his love for top-notch luxury, he has an exclusive array of assets, including state-of-the-art palaces, islands, exotic cars and private jets, standing out and rivaling some of the world's biggest earners' assets.
04:12King Salman's extensive expenditure also includes headlining purchases made by his equally famous family members.
04:19From the majestic Al Yamamah Palace in Riyadh to the serene Al Salam Palace in Jeddah, each abode reflects a unique blend of traditional Islamic architecture and modern luxury.
04:29These palatial homes are not only symbols of immense wealth and power, but also embody the rich cultural heritage of Saudi Arabia.
04:36The Al Yamamah Palace stands as a beacon of power and prestige in the heart of Riyadh, serving as the primary residence and official office of King Salman bin Abdulaziz Al Saud.
04:45This architectural marvel is not just a home, it is a symbol of the Saudi monarchy's enduring legacy and influence.
04:51The palace's historical significance is deeply intertwined with the history of Saudi Arabia itself, reflecting the nation's journey from its founding to its current status as a global powerhouse.
05:01Constructed in the late 20th century, the Al Yamamah Palace was designed to embody the grandeur and authority of the Saudi royal family.
05:08Its architecture is a harmonious blend of traditional Islamic design and contemporary luxury, showcasing the rich cultural heritage of the kingdom.
05:16The palace's exterior is adorned with intricate geometric patterns and calligraphy, typical of Islamic art, while its interior boasts opulent furnishings and state-of-the-art facilities.
05:26The palace's layout is meticulously planned to accommodate both the personal and official functions of the king.
05:32It features expansive halls and reception areas where state functions and diplomatic meetings are held.
05:37These spaces are designed to impress, with high ceilings, grand chandeliers and lavish decor that reflect the wealth and status of the Saudi monarchy.
05:45The use of marble, gold and precious stones throughout the palace further accentuates its opulence.
05:50One of the most striking features of the Al Yamamah Palace is its gardens.
05:53These lush, meticulously maintained landscapes provide a serene contrast to the bustling city of Riyadh.
05:59The gardens are not only a testament to the palace's luxury, but also a nod to the traditional Arabian love for nature and tranquility.
06:05They serve as a private oasis for the king and his guests, offering a peaceful retreat from the demands of royal life.
06:11The architectural design of the Al Yamamah Palace also incorporates elements that highlight Saudi Arabia's cultural heritage.
06:17The use of traditional Najdi architectural styles, characterized by mud-brick structures and intricate carvings, pays homage to the kingdom's historical roots.
06:26This blend of old and new is a reflection of King Salman's commitment to preserving the cultural identity of Saudi Arabia while embracing modernity.
06:34Inside the palace, the attention to detail is evident in every corner.
06:38The walls are adorned with artworks and artifacts that celebrate the history and achievements of the Saudi state.
06:44These pieces serve as reminders of the kingdom's rich past and its aspirations for the future.
06:49The palace's library, filled with rare manuscripts and books, is a treasure trove of knowledge, reflecting King Salman's passion for education and learning.
06:56The Al Yamamah Palace is more than just a residence.
06:59It is a symbol of King Salman's status as a leader and custodian of Saudi Arabia's cultural heritage.
07:04It stands as a testament to the monarchy's enduring legacy and its role in shaping the nation's identity.
07:10The palace's architectural grandeur and historical significance make it a fitting home for a king who has played a pivotal role in the kingdom's development and modernization.
07:19Nestled along the picturesque coastline of Jeddah, the Al-Salam Palace serves as King Salman bin Abdulaziz Al Saud's summer retreat.
07:26This palace is not only a haven of luxury and comfort, but also a significant cultural and diplomatic hub.
07:31Its strategic location near the Red Sea provides a serene backdrop, making it an ideal setting for both relaxation and high-profile gatherings.
07:39The Al-Salam Palace is renowned for its exquisite design, which seamlessly blends traditional Saudi architecture with modern elegance.
07:46The palace's exterior is characterized by clean lines and expansive windows that offer breathtaking views of the surrounding landscape.
07:53The use of local materials and traditional motifs in its construction pays homage to the cultural heritage of Saudi Arabia,
07:59while the incorporation of contemporary elements reflects the kingdom's forward-looking vision.
08:04Inside, the palace is a testament to opulence and sophistication.
08:07The interiors are adorned with luxurious furnishings, intricate mosaics and grand chandeliers that illuminate the spacious halls.
08:14The palace boasts state-of-the-art amenities, including private suites, conference rooms and recreational facilities,
08:21ensuring the comfort and convenience of its guests.
08:23The design of the Al-Salam Palace is not only a reflection of King Salman's personal taste,
08:27but also a showcase of Saudi Arabia's architectural prowess.
08:31One of the most remarkable features of the Al-Salam Palace is its expansive gardens and private beaches.
08:36These outdoor spaces are meticulously landscaped, offering a tranquil oasis where guests can unwind and enjoy the natural beauty of the Red Sea coast.
08:45The gardens are a nod to the traditional Arabian love for nature, providing a serene environment that complements the palace's luxurious interiors.
08:52The Al-Salam Palace plays a crucial role as a cultural and diplomatic hub.
08:56It regularly hosts a variety of events, ranging from royal family gatherings to high-level diplomatic meetings.
09:02The palace's location in Jeddah, a city known for its historical significance and cultural diversity,
09:07makes it an ideal venue for fostering international relations and cultural exchange.
09:12Throughout the year, the Al-Salam Palace welcomes dignitaries and leaders from around the world,
09:17serving as a platform for dialogue and collaboration.
09:19These gatherings are not only opportunities for diplomatic engagement,
09:23but also occasions to showcase Saudi Arabia's rich cultural heritage and hospitality.
09:28The palace's grand reception halls and conference facilities are equipped to accommodate large delegations,
09:33making it a preferred choice for hosting significant international events.
09:37In addition to its diplomatic functions, the Al-Salam Palace is a cultural hub that celebrates the arts and traditions of Saudi Arabia.
09:44The palace often hosts cultural exhibitions and performances,
09:47providing a platform for local artists and performers to showcase their talents.
09:51These events highlight the kingdom's commitment to preserving and promoting its cultural heritage,
09:56while also fostering a sense of national pride and identity.
09:59Situated in the heart of Riyadh, the Murabba Palace exhibits the rich history and architectural prowess of Saudi Arabia.
10:05This iconic structure, built in the 1930s, marks a pivotal moment in the kingdom's journey towards modernization.
10:11Commissioned by King Abdulaziz, the founder of modern Saudi Arabia,
10:15the Murabba Palace was one of the first buildings in Riyadh to incorporate modern construction techniques,
10:21setting a new standard for architectural design in the region.
10:24The Murabba Palace is a striking example of traditional Najdi architecture.
10:28Characterized by its thick mud-brick walls, wooden beams and intricate geometric patterns,
10:32these elements not only provide structural integrity, but also reflect the cultural and environmental considerations of the time.
10:39The use of mud-bricks, for instance, offers natural insulation against the harsh desert climate,
10:44keeping the interiors cool during the scorching summers and warm during the chilly winters.
10:48The palace's design is a harmonious blend of tradition and innovation.
10:52While it retains the essence of Najdi architecture, it also incorporates modern elements that were revolutionary for its time.
10:58The introduction of large windows and open courtyards allowed for better ventilation and natural light,
11:04enhancing the living conditions within the palace.
11:06This fusion of old and new is a testament to King Abdulaziz's vision of a progressive Saudi Arabia
11:11that respects its heritage while embracing the future.
11:14The Murabba Palace served as the royal residence and the seat of government until the 1950s.
11:19During this period, it was the epicenter of political and social life in Riyadh.
11:23The palace witnessed numerous historic events and hosted dignitaries from around the world,
11:27playing a crucial role in shaping the kingdom's diplomatic relations.
11:31Its strategic location in the heart of the city made it a symbol of power and authority,
11:36reinforcing the central role of the monarchy in Saudi society.
11:39The palace complex is an expansive site, encompassing several buildings and courtyards.
11:44The main building, known as the King's Quarters,
11:46housed the private living spaces of King Abdulaziz and his family.
11:49These quarters are adorned with exquisite furnishings and decorations,
11:53showcasing the craftsmanship and artistry of Saudi artisans,
11:56The intricate woodwork, colourful textiles and ornate metalwork reflect the opulence and grandeur of the royal lifestyle.
12:03Adjacent to the King's Quarters are the guest accommodations,
12:05designed to host visiting dignitaries and officials.
12:08These spaces are equally lavish, featuring luxurious amenities and elegant interiors.
12:13The palace also includes administrative offices,
12:15where the day-to-day affairs of the kingdom were managed.
12:17In the vibrant diplomatic quarter of Riyadh,
12:20the Erga Palace stands in contemporary elegance and royal sophistication.
12:23Constructed in the 1980s, this palace represents the modern face of Saudi Arabia,
12:29embodying the kingdom's rapid development and its aspirations on the global stage.
12:33The Erga Palace is not merely a residence.
12:36It is a symbol of the kingdom's progress and its commitment to maintaining its cultural identity while embracing modernity.
12:42The architecture of the Erga Palace is a masterful blend of traditional Islamic motifs and contemporary design elements.
12:48This fusion creates a unique aesthetic that is both timeless and forward-looking.
12:52The palace's exterior is characterised by clean lines and expansive facades,
12:57reflecting the minimalist trends of modern architecture.
12:59Yet it retains a connection to its roots through the use of traditional Islamic patterns and motifs,
13:04which are intricately woven into the design.
13:07One of the most striking features of the Erga Palace is its grand reception halls.
13:11These expansive spaces are designed to host official events, ceremonies and gatherings of international significance.
13:16The halls are adorned with opulent chandeliers, marble floors and intricate mosaics,
13:21creating an atmosphere of luxury and grandeur.
13:23These elements not only enhance the aesthetic appeal of the palace,
13:26but also serve as a testament to the kingdom's rich artistic heritage.
13:30The Erga Palace is equipped with state-of-the-art facilities,
13:32reflecting the kingdom's commitment to innovation and progress.
13:35Advanced security systems ensure the safety and privacy of the royal family and their guests,
13:40while cutting-edge technology enhances the functionality and comfort of the palace.
13:44From climate control systems to high-speed communication networks,
13:48every aspect of the palace is designed to meet the demands of modern living.
13:51King Salman's luxurious lifestyle is a dazzling display of wealth and opulence,
13:56reflecting the immense fortune and influence of the Saudi royal family.
13:59From the architectural splendour of his palatial residences,
14:02adorned with gold accents and Italian marble,
14:05to the unparalleled security measures that protect these grand abodes,
14:08King Salman's homes display his regal status.
14:10His collection of classic cars, including the iconic Batmobile,
14:14his majestic floating palace, and his $300 million yacht,
14:17exemplify his extravagant tastes.
14:20Beyond the borders of Saudi Arabia,
14:21his summer retreat in Morocco offers a serene escape,
14:24showcasing his penchant for luxury and comfort.
14:27Each aspect of King Salman's life, from his residences to his vehicles,
14:31paints a picture of a monarch living in a grandeur and magnificence world.
14:34Inside King Salman's unique security measures,
14:36it is only fitting that a king with this intense level of splendour
14:40will adopt the most meticulous form of security.
14:42King Salman's security details are not so different
14:45from those of some of the top high-tech safeguarding systems,
14:48however, known for his zero.
14:49Tolerance for rebellion.
14:51The king owns a private jail for offenders.
14:53Many times, these offenders are within the royal family.
14:56The story of King Salman's private jail
14:57begins in the backdrop of a rapidly changing Saudi Arabia.
15:01In 2015, King Salman ascended to the throne,
15:04marking the beginning of a new era for the kingdom.
15:06His reign was characterised by sweeping reforms
15:09and a bold vision for the future,
15:10spearheaded by his son, Crown Prince Mohammed bin Salman.
15:14However, beneath the surface of these ambitious changes
15:17lay a complex web of power struggles and political manoeuvring.
15:20The creation of the private jail within King Salman's official palace
15:24is closely tied to the events of November 2017.
15:27This period marked the launch of an unprecedented anti-corruption campaign,
15:31ostensibly aimed at rooting out corruption
15:33within the highest echelons of Saudi society.
15:36The campaign was spearheaded by the newly established Anti-Corruption Committee,
15:40led by Crown Prince Mohammed bin Salman himself.
15:42The committee was granted sweeping powers to investigate,
15:45arrest and detain individuals suspected of corruption.
15:48The Ritz-Carlton Hotel in Riyadh,
15:50a symbol of luxury and opulence,
15:52was chosen as the site for this extraordinary operation.
15:54The hotel was temporarily closed to the public
15:56and transformed into a detention facility,
15:59effectively becoming a private jail for the kingdom's elite.
16:02This move was strategic and symbolic
16:04as it clearly communicated that no one,
16:06not even the most powerful royals, was above the law.
16:09On the night of November 4th, 2017,
16:11a wave of arrests swept through the kingdom.
16:13High-profile figures, including princes,
16:16government officials and influential businessmen,
16:18were detained and brought to the Ritz-Carlton.
16:20Among them was Prince Al-Walid bin Talal,
16:23one of the world's wealthiest individuals,
16:25known for his extensive investments and philanthropic efforts.
16:28The detainees were held incommunicado,
16:30with limited access to the outside world,
16:32as the Saudi government maintained tight control
16:34over information and media coverage.
16:36The conditions within the private jail were unlike any other.
16:39While the detainees were confined
16:40within the luxurious surroundings of the Ritz-Carlton,
16:43they were subjected to intense interrogations
16:45and pressure to relinquish assets in exchange for their freedom.
16:48Reports suggest that some detainees were coerced
16:51into signing over large portions of their wealth
16:53and business interests to the East state.
16:56This operation, while framed as a crackdown on corruption,
16:58was seen by many as a political maneuver
17:00to consolidate power and eliminate potential rivals.
17:03The use of the private jail within King Salman's official palace
17:07highlights the lengths to which the Saudi leadership
17:09was willing to go to maintain control.
17:11The anti-corruption purge,
17:12while publicly justified as a necessary step to eradicate corruption,
17:16was criticized by some as a means to strengthen
17:19the Crown Prince's grip on power.
17:21The operation was shrouded in secrecy
17:22with little transparency or accountability,
17:25raising questions about the true motives behind the campaign.
17:28As the months passed,
17:29the detainees were gradually released,
17:31often after reaching financial settlements with the government.
17:34The Ritz-Carlton reopened its doors to the public,
17:36and the private jail within King Salman's palace
17:38faded from the headlines.
17:40However, the impact of the operation
17:41continued to reverberate throughout the kingdom,
17:44reshaping the balance of power within the royal family
17:46and altering the landscape of Saudi politics.
17:49King Salman shares his fortune with his son.
17:52What's more imposing than one paramount ruler
17:54wielding the pinnacle of wealth?
17:552. King Salman does not control and oversee
17:58his astounding wealth alone.
17:59He has his equally regal son by his side,
18:02and they run the daily affairs of Saudi Arabia
18:04as a formidable force.
18:05The Crown Prince Mohammed bin Salman,
18:07popularly known as MBS,
18:09is as influential and extravagant as his father.
18:11MBS's wealth accumulation is closely tied
18:14to his role within the Saudi government
18:16and his strategic vision for the country's future.
18:19As the architect of Vision 2030,
18:21a plan aimed at diversifying Saudi Arabia's economy
18:23and reducing its dependence on oil,
18:25MBS has positioned himself as a forward-thinking leader
18:28with a keen eye for investment opportunities.
18:31His efforts to modernize the kingdom
18:32and attract foreign investment
18:34have further bolstered his wealth
18:35and the economic power of the royal family.
18:37The Crown Prince's wealth is not only a result
18:40of his strategic initiatives,
18:41but also his access to the vast resources
18:43of the Saudi state.
18:45As a member of the royal family,
18:46MBS benefits from the kingdom's oil revenues
18:49and the lucrative business opportunities
18:50that come with it.
18:51His investments span various sectors,
18:53including real estate, technology, and entertainment,
18:56reflecting his diverse interests and ambitions.
18:59The economic influence of the Saudi royal family
19:01extends beyond the kingdom's borders,
19:03as they hold significant investments
19:05in global markets.
19:06The family's wealth is managed
19:07through various sovereign wealth funds,
19:09such as the Public Investment Fund, PIF,
19:12which has stakes in major international companies
19:14like Uber, SoftBank, and Disney.
19:16These investments not only generate substantial returns,
19:19but also enhance the family's global economic clout.
19:21MBS's personal fortune,
19:23estimated at $4 billion,
19:25may seem modest compared to the family's overall wealth,
19:28but it is a testament to his strategic acumen
19:30and ability to leverage the kingdom's resources.
19:33His investments in high-profile assets,
19:35such as the purchase of Newcastle United Football Club
19:38and the acquisition of the Salvatore Mundi painting,
19:40highlight his penchant for making bold financial moves
19:43that capture the world's attention.
19:45One of the most striking aspects of MBS's lifestyle
19:47is his love for hosting extravagant parties.
19:50In 2015, shortly after ordering a military intervention in Yemen,
19:54MBS decided to unwind
19:55by organizing a two-week-long party in the Maldives.
19:58This was no ordinary gathering.
20:00The crown prince reserved an entire island,
20:02complete with 43 ultra-luxurious villas
20:04to accommodate his guests.
20:06Among the attendees were international superstars
20:09like Pitbull, Shakira, Rihanna, and Jennifer Lopez.
20:12The cost of this exclusive event
20:13was a staggering $8 million,
20:15a testament to MBS's willingness
20:17to spare no expense in pursuit of leisure and entertainment.
20:20MBS's taste for luxury extends beyond parties
20:23to his impressive collection of high-end assets.
20:25His garage is a spectacle in itself,
20:27housing a fleet of golden cars
20:29that would make any automobile enthusiast envious.
20:31The collection includes a golden Lamborghini Aventador SVJ,
20:35valued at $7.5 million,
20:37a golden Rolls-Royce Phantom Coupe worth $8 million,
20:40and a golden Bugatti Veyron Grand Sport,
20:42priced at $12.5 million.
20:44These vehicles, with their eye-catching gold exteriors,
20:47are a reflection of MBS's desire
20:49to project an image of opulence and grandeur.
20:52Real estate is another area
20:53where MBS's extravagant spending is evident.
20:55One of his most notable acquisitions is the Chateau Louis XIV,
20:59a villa named after the Sun King of France.
21:01Widely regarded as the most expensive villa in the world,
21:04it was purchased for a jaw-dropping $300 million.
21:08The interior of the chateau is a marvel of luxury,
21:11adorned with golden ornaments and priceless art
21:13that harken back to the extravagance
21:15of 17th-century French royalty.
21:17The property also boasts a private cinema,
21:20a deluxe swimming pool,
21:21and a stunning 57-acre garden
21:23with smartphone-controlled fountains,
21:25showcasing MBS's affinity
21:26for blending tradition with modern technology.
21:29MBS's high-profile purchases
21:30extend to the world of art and sports.
21:32In a move that captured global attention,
21:34he acquired the Salvatore Mundi,
21:36a painting of Jesus Christ by Leonardo da Vinci,
21:39for an astonishing $450 million.
21:41This purchase not only made the Salvatore Mundi
21:43the most expensive painting in the world,
21:45but also demonstrated MBS's appreciation for art
21:48and his willingness to embrace
21:50different cultures and religions.
21:51In the realm of sports, MBS made headlines
21:53by purchasing Newcastle United,
21:55one of the oldest football clubs in the world,
21:57for $370.5 million.
22:00This acquisition has revitalised the club,
22:02propelling it into the top five of the Premier League
22:04and reigniting hopes of Champions League success.
22:07MBS's investment in Newcastle United
22:09reflects his strategic approach
22:11to diversifying his interests
22:13and enhancing his global influence.
22:15The crown jewel of MBS's maritime acquisitions
22:17is the Serene Superyacht,
22:19which he bought for $500 million.
22:21This 440-foot vessel is a floating palace
22:24featuring multiple swimming pools,
22:25a private cinema, a gym, and opulent bedrooms.
22:28With two helipads and a plethora of entertainment options,
22:31Serene attests to MBS's approach
22:33to a luxurious lifestyle
22:34and his desire to live life to the fullest.
22:37Click the next card on your screen
22:38to learn more about what the royals
22:40and affluent world has to offer.
22:41And I'll be waiting there.
22:42Bye for now.
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