Saudi Arabia has released construction magnate Bakr bin Laden, more than three years after his detention in a purge of the kingdom’s elite that upended his vast business empire, sources told AFP.
The former chairman of the Bin Laden Group, Saudi Arabia’s biggest construction company, was reunited last week with his family in the Red Sea city of Jeddah after being freed from an undisclosed detention site, two people close to his family said.
It was unclear whether the release of Bakr, a tycoon in his 70s once seen as a major powerbroker, was provisional as his movements are still curtailed, one of the sources said.
“He was released and told to stay home,” he said.
“People are allowed to visit him.”
His family is “overjoyed,” the second source said, adding they hoped his release was not a temporary goodwill gesture by the government towards the end of the Muslim holy month of Ramadan.
Bakr, a half-brother of the late Al-Qaeda leader Osama bin Laden, was not reachable for comment and Saudi authorities did not immediately respond to AFP’s request for comment.
The Bin Laden family, branded as the Rockefellers of Saudi Arabia for their sprawling infrastructure projects, reaped enormous wealth for decades on the back of their proximity to the Al Saud royal family. But their fortunes tanked following the ascent of Crown Prince Mohammed bin Salman, who has sought to remake the oil-reliant economy and dismantle top-down patronage networks that enriched a handful of elite families.
Bakr and two other siblings, Saad and Saleh, were snared in a November 2017 purge that saw hundreds of royals, tycoons and government ministers locked up for months in Riyadh’s Ritz-Carlton hotel, then widely dubbed a five-star prison.
The unprecedented crackdown, which rattled private investors just as the kingdom sought to lure capital to help diversify the economy, was described by the government as an anti-corruption measure. But observers widely saw it as a shakedown and power play by Prince Mohammed, the de facto ruler known by his acronym MBS. Most detainees were subsequently released after opaque financial “settlements” with the government. The government took management control of the debt-saddled Bin Laden group after acquiring the three brothers’ collective 36.2 percent stake in the company.
A general view of Saudi Arabia Photo: VCG
