How rich is Sultan bin Abdulaziz?
Sultan bin Abdulaziz net worth:
People also search for
Prathap C. Reddy
Sultan bin Abdulaziz net worth, biography and wiki:
In 1963, King Faisal made Prince Sultan as minister of defense and air travel. He presided on the creation of the Saudi armed forces. Throughout the reign of King Faisal, Prince Sultan was especially curious in Yemen. His sway fell under the reign of King Khalid. Nevertheless, as an outcome of issues assimilating technology within its armed forces, a comparatively high percentage of the military equipment is kept or under care, despite a sizable part of Saudi’s $34 billion defense budget being spent on keeping military equipment. Sultan supposedly became extremely rich from kickbacks by Western companies that managed multibillion-dollar defense contracts. He was involved in several scandals, such as the Al Yamamah deal. Nevertheless, his influence remained unhindered until his health started to deteriorate. During his tenure, Saudi Arabia became the biggest importer of U.S. arms. He was a powerful proponent of U.S.-Saudi venture. At the same time, Sultan authorized a deal with all the British Aircraft Corporation (BAC) in 1965. His system, called Operation Magic Carpet, traded 16 million for six secondhand Lightnings, six Hawker Hunters, as well as some missile launchers going to Royal Saudi Air Force. Geoffrey Edwards served as the official intermediary. British aviators also came over, in private contracted. In 1996, Prince Sultan opposed Pentagon plans to relocate U.S. troops to safer places after the Dhahran complicated bombings.