The Saudi Prince, Al-Waleed bin Talal who is better known as one of the biggest tech investors in tech giants like Twitter, Apple, and Lyft, has been arrested by Saudi Arab authorities who are accusing him of laundering money abroad, and corruption.
The charge against him was made just after forming an anti-corruption agency in Saudi Arab which is led by Crown Prince Mohammed bin Salman whose father never wanted to rise Al-Waleed’s power in Saudi Arab.
The validity of the charge is not clear yet. If it is proven to be true, it will have a significant effect on tech investments particularly on Twitter, as Prince Waleed in 2011 invested about $300 million which made him the second largest investor after Ev Williams, the co-founder of Twitter.
Nowadays it seems Saudi Arabia is more interested in tech rather its oils fields. Therefore, we can see that the country is trying to reduce its institutes’ economic reforms in order to reduce its dependence on oil by 2030.