In his latest video, Patrick Bet-David explains how Saudi Crown Prince Mohammed bin Salman Al Saud (referred to simply as “MBS”) is reshaping the Middle East with his vision for the future of Saudi Arabia.
MBS (born Aug. 31st, 1985) is a member of the Saudi royal family who served as the Minister of Defense from Jan. 2015 to Sept. 2022 and has been serving as the Crown Prince of Saudi Arabia since June 2017 and as the Prime Minister since Sept. 2022.
After being appointed Defense Minister, he launched a military campaign against Yemen, imposed a blockade on Qatar, and engaged in efforts to limit Iran’s influence in the region. He quickly proved his ambitions to become an aggressive and respected leader unafraid to push his weight around.
Additionally, MBS decided to drastically curb the powers of the country’s Islamic religious police only one year into his term as Defense Minister. The police agency was a feared institution, and MBS removed their ability to stop and detain people on suspicions of violating sharia. MBS also reinstated the cinema industry, allowed certain social liberties to come back into focus, and reduced the strictness of gender laws.
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In 2017, MBS conducted a corruption purge against 400 members of the nation’s elite, including princes, tycoons, and ministers.
While working his way up the ladder of respect, MBS released his plan for the country to foreshadow what he would aim to achieve as Crown Prince. His “Vision 2030,” first mentioned in 2016, included a strategic playbook to reduce the country’s dependence on oil and diversify its economy. He promised to develop public service sectors, create a “Davos in the Desert” to attract foreign direct investment (FDI), and finance the creation of planned megacities, sports leagues, and entertainment.
There is only one country in the world with more oil reserves than Saudi Arabia: Venezuela. About 87 percent of Saudi Arabia’s GDP relies on oil.
When you are in charge of an economy with this amount of a lucrative resource, and you say you want to diversify away from it, you are a complicated figure to say the least. Why could this be?
Check out Patrick’s video to see the ways MBS is shaping up to be a significant force on the world stage.
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