In a striking display of extravagance, Saudi Crown Prince Mohammed bin Salman (MBS) has recently spent $600 million on four electric airplanes from the German company Lilium, intended for his personal use. The purchase comes at a time when Saudi Arabia is grappling with severe economic challenges, leaving many citizens questioning the priorities of their leadership.
The acquisition of these aircraft, designed for rapid travel to sporting events and other entertainment venues, epitomizes MBS’s approach to wealth and governance. While the crown prince indulges in luxury, ordinary Saudis are facing the brunt of economic austerity measures. Reports have highlighted the struggles of many citizens who find it increasingly difficult to meet their basic needs, even as the government implements spending cuts in vital sectors.
This expenditure on personal luxury is part of a broader pattern of high-cost projects and investments that have been heavily criticized for their lack of tangible benefits to the Saudi populace. MBS’s ambitious Vision 2030 plan, which includes the $500 billion NEOM project, aims to transform Saudi Arabia into a global hub for innovation and tourism. However, many of these projects, including the proposed “City of Space Science Fiction” with a projected cost of up to $5.3 billion, have faced skepticism over their feasibility and relevance to the country’s immediate needs.
Internationally, MBS has invested billions in entertainment companies, including a $500 million stake in Disney and a $250 million investment in Facebook. These investments, along with the $450 million spent on a luxury yacht and $300 million on a French chateau, further illustrate a pattern of lavish spending that seems disconnected from the economic realities faced by many Saudis.
Critics argue that these expenditures are not just wasteful but harmful, as they divert resources away from essential public services and infrastructure projects. The Saudi economy, despite its vast oil wealth, is showing signs of strain. Austerity measures have led to reduced government spending on healthcare, education, and other critical areas, contributing to rising unemployment and economic hardship.
Moreover, the focus on entertainment and luxury projects has raised concerns about the long-term sustainability of these investments. Projects like the Red Sea Tourism Project, the $8 billion Qiddiya entertainment complex, and various other initiatives have been met with delays and budget overruns, further fueling doubts about their viability.
As the kingdom continues to pour billions into high-profile, high-risk ventures, many Saudis are left wondering about the benefits of these investments. With the country’s foreign reserves dwindling and the economy in decline, the question remains: Can Saudi Arabia afford to keep funding MBS’s dreams, or is it time for a more balanced and prudent approach to spending?
The disparity between the lavish spending on entertainment and the economic struggles faced by ordinary Saudis underscores a growing divide in the kingdom. As MBS continues to pursue his vision of a modern, global Saudi Arabia, the question of who ultimately benefits from these investments remains unanswered.
