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Saudi billionaires said to be moving assets out

Move comes as crackdown on corruption intensifies; weekend arrests have prompted investors from within the region to sell, pushing benchmark stock indexes lower

Posters depicting Saudi Arabia's King Salman bin Abdulaziz Al Saud and Crown Prince Mohammed bin Salman in Riyadh. The crown prince has consolidated his grip on power since his father took the throne in 2015, and now controls defence, oil and economic policies.


SOME Saudi billionaires and millionaires are seeking to move assets from the kingdom and the wider Gulf Cooperation Council (GCC) region as what authorities call a crackdown on corruption intensifies, according to six people with knowledge of the matter.

The country's...

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