Muhammad bin Fahd
From Wikipedia, the free encyclopedia
| Muhammad bin Fahd al-Saud |
|---|
| House of Saud |
| Muhammad bin Fahd bin Abdul Aziz al Saud |
Prince Muhammad bin Fahd bin Abdul Aziz al-Saud (Arabic: الأمير محمد بن فهد بن عبدالعزيز السعود) (born c.1951) is a member of the House of Saud and one of six sons of the late King Fahd of Saudi Arabia. He serves as governor of the oil rich Eastern Province.
Like many of the Saudi princes, Muhammad is known to be incredibly wealthy, although the details of his financial situation are not public record. But according to the sworn testimony of Mohammed Said Ayas, a Lebanese business colleague of Muhammad's, Muhammad has earned over $1.2 billion in commissions on British defense contracts between 1972 and 1998. Deutsche Presse Agentur reported that "his habit of demanding outrageously high 'commissions' on all foreign business deals has given him a tarnished reputation, even in a country where such kickbacks to royal persons are routine." In 1998 the London Sunday Times estimated that Muhammad had spent $1 billion in personal expenses in the last decade. This is far more than any other princes in the Saudi royal family are known to have spent. He is famous for owning a dozen huge homes, giving away expensive watches and yachts, and giving absurdly generous tips. He is estimated to have lost half a billion dollars in gambling throughout his lifetime, and Caesars Palace in Las Vegas sets aside an entire floor for him and his entourage when he visits.
The prize named after him, "Prince Muhammad Prize for Scholastic Achievement," is one of the most recognized in Saudi Arabia. Prince Mohammad bin Fahd University in Khobar is named after him.
[edit] References
- Gerald Posner, "Secrets of the Kingdom", Random House, 2005, chapter 13.
- Montkaj Photos of Muhammad bin Fahd's yacht Montkaj
He is the governor of the eastern province since 1987 and since then there where a lot of improvement in that part of the country.
