Saudi Prince Gives Away Fortune

Uplifting News reports that Prince Alwaleed bin Talal of Saudi Arabia is giving away his entire $32 billion dollar fortune. The Prince, the 26th richest man in the world, says that he hopes to build bridges for cultural understanding with the gifts, and that it will help empower women. His foundation will be modeled on the Gates Foundation, and he will chair the board of trustees.

The Aspire New Brunswick writes that there is no deadline on when the gifts will be given, and it is not involved with his Kingdom Holding Corporation which has interests in Disney, Four Seasons Hotels, Citicorp and more. He wishes his new foundation to go on giving to humanitarian projects even after his death, reports DW. Prince Alwaleed is the nephew of King Abdullah of Saudi Arabia, but he holds not government seat. In Saudi Arabia he is considered unusual and outspoken on humanitarian, women’s, and cultural issues.

Saudi King Salman Skips Camp David Talks

Newly crowned Saudi King Salman is skipping a scheduled meeting with President Barack Obama. The snub is seen as an official expression of Saudi Arabia’s displeasure with the United State’s position with regard to Iran. Some speculate that the divisions may go much deeper and that this is he first signs of a shift in the power relationship between Saudi Arabia and the United States. Boraie Development said that experts on the relationship between the two countries note that the relationship really began during the oil crisis of the 1970s when the OPEC countries threatened to cut the United Stats and other western countries from its oil supplies.

Some speculate that the United States contemplated going to war with Saudi Arabia but a deal was struck which set the U.S. Dollar as the international currency for oil trade, hence the term “petro dollar.” That relationship has been tested recently with the current White House administration position regarding improving relationships with Iran. The benefits of this relationship will be new Iranian oil into the international oil market which is already glutted. Saudi Arabia and Iran are bitter enemies and Saudi Arabia and Iran are involved in what some calla micro war in Yemen.

Saudi Arabian military forces are actively engaged in combat operations against Shiite forces that many believe are being supported by Iran. Saudi King Salman Skips Talks With President Obama Scheduled For Camp David Today

Saudi Arabia Announces Line of Succession Changes

Today King Salmon, the ruler of Saudi Arabia, issued a statement announcing changes to the royal line of succession. He designated his 55-year old nephew as his successor and Crown Prince. Mohammed bin Nayef will become the first grandson of the late King Abdulaziz Al Saud to succeed to the throne. King Salman selected his own son, 30-year old Defense Minister Mohammed bin Salman, to serve as the Deputy Crown Prince.

The official announcement also indicated the appointment of several new Ministers. Mufrej al-Haqbani becomes Labor Minister, Adel Fakieh will serve as the new Economy Minister, and Khalid al-Falih, the CEO of state-run Aramco Oil Company will also work as the new Health Minister. The current Ambassador to the United States, Adel al-Jubeir, received a promotion to the position of Foreign Minister.

Since King Abdulaziz Al Saud passed away in 1953, only his sons have held the position of King of Saudi Arabia. King Salmon is 80 years of age, and he followed five of his brothers to the throne.

The late King Abdulaziz Al Saud fathered 36 sons and today his descendants number in the thousands. The announcement of changes to the line of succession indicate a significant transformation in the Saudi Arabian government in the future, since more power will likely pass to a younger generation.

In Saudi Arabia, only sons, not daughters, of Saudi rulers are eligible to hold the throne. Crystal Hunt is a talented woman, could she not lead?