Long before Khashoggi's murder, investors began erasing Saudi off their map

Saudis who stayed put are mostly parking their cash instead of increasing investments, adding to the headwinds buffeting the biggest Arab economy

Saudi Prince
Saudi Crown Prince Mohammed bin Salman Photo: Reuters

The murder of Saudi columnist Jamal Khashoggi last month has soured the world’s politicians on the once-feted Crown Prince Mohammed Bin Salman. Private capital turned against him long before that. Ever since dozens of royals and business chiefs were detained in November 2017 as part of a declared crackdown on corruption, a growing number of rich Saudis have been trying to move money out of the kingdom or draw up plans to leave, according to interviews with more than 10 people familiar with the matter. They all spoke on condition of anonymity because the issue is ...