Saudi Crown Prince of Saudi Arabia Mohammed bin Salman has once again splashed across headlines as he has been identified as the mysterious buyer of Forbes-ranked “world’s most expensive home,”.According to a report by New York Times, the lavish Chateau Louis XIV was sold for over $300 million in 2015, at a time when the international media was not considering Salman,a possible buyer, however, the latest trove of documents leads to Crown Prince Mohammed bin Salman, heir to the Saudi throne.
The Saudi royal, known internationally by the initials MBS did not come under the radar of media some two years back but his swift ascension in power ladder raised the eyebrows of political observers and investigators alike, keeping a close eye on him.
Though the 32-year-old prince apparently tried to avoid media spotlight stemming out of his extravagance depicted in the lavish spending for 50,000 sq ft palace, the investigators have now identified that the house was purchased through shell companies in France and Luxembourg which are in turn owned by ‘Eight Investment Company’.
The ‘Eight Investment Company’ is a Saudi firm managed by the head of Crown Prince Mohammed’s personal foundation.
Moreover, advisers to members of the royal family say the chateau, containing a 57-acre landscaped park ultimately belongs to the crown prince, who is leading an anti-corruption purge in the oil-rich kingdom.
Another factor that ultimately makes it evident that MBS is behind the purchase is that the Eight Investment was the same company that backed Prince Mohammed’s purchase of the 440-foot yacht from a Russian vodka tycoon in 2015.
Furthermore, the Paradise Papers, also revealed how platoons of lawyers, bankers and accountants in Germany, Bermuda and the Isle of Man worked to quickly transfer ownership to Eight Investment.
The monster yacht was once among the world’s three biggest, according to Forbes, behind Chelsea FC owner Roman Abramovich’s 162.5m Eclipse and iron and steel tycoon Viktor Rashikov’s 140-metre Ocean Victory.
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