The Unbridled Ambition of MBS

Mohammad bin Salman, a.k.a MBS, is the 35 year-old Crown Prince of Saudi Arabia. His sensational ambition & controversies have made him known to millions. MBS is the eighth of thirteen children, and his father King Salman's favourite. MBS is often regarded as the power behind the throne.

MBS has been lauded by Western media for his progressive gender reforms. He significantly restricted the powers of the Saudi religious police, lifted the ban on female drivers, and weakened the male-guardianship system that was prevalent in the country. Under his reign, the presence of women in the workforce increased, from 13% in 2015 to 35% in 2019. Women were allowed to attend cultural events, and were given access to education & healthcare. Saudi now has more female university graduates than male, and 91% female literacy. In 2020, Saudi Arabia was ranked as the top reformer in women's rights.

Oil comprises 30-40% of Saudi's GDP. Decreasing this dependence on oil has been one of the goals of MBS, and in 2016 he established Saudi Vision 2030. The main aim is to develop alternative sources of revenue such as income from the sovereign wealth fund (PIF), taxes, & fees. PIF in the past 5-6 years has made a number of high-profile investments in Boeing, Facebook, Citigroup, Berkshire Hathaway, Disney, and BP worth a total of $10 billion. PIF also invested $45 billion in the SoftBank Vision Fund, and owns considerable stakes in Uber, Tesla, & Jio.

In 2017, MBS promised to invest $40 billion in infrastructure projects in the US, and entered into business deals with GE, & Lockheed Martin. He also took Saudi Aramco public, at a valuation of $1.9 trillion, a move that was praised internationally. MBS restored Saudi's dominance in global oil-markets by keeping the price of oil low for a long period of time, thus driving a few small players bankrupt. He established key infrastructure projects, such as the high-speed railway between Mecca & Medina.

Tourism is one of Vision 2030's most important initiatives. MBS wants to transform Saudi into a hub connecting Afro-Eurasia. NEOM is a planned smart-city north of the Red Sea, where robots will perform functions such as home delivery, logistics, & security, and the city will be powered by wind & solar energy. It will also have the world's largest green hydrogen plant, and AI will monitor the city, and use data models to improve the life for citizens. Qiddiya is another mega-project in Riyadh that'll have a Formula-1 racing track, & Six-Flags theme-park.

MBS rules an authoritarian regime in Saudi Arabia. He isn't a fan of criticism, and deals with dissenters harshly. In 2018, Jamal Khashoggi, a critic of MBS was dismembered at the Saudi consulate in Istanbul. The men that killed Jamal were bodyguards of bin Salman. International media condemned MBS and his autocracy. Norway & Denmark stopped the sale of arms to Saudi, Saudi Arabia-Turkey relations further deteriorated, and Canada froze it's $15 billion supply of armoured vehicles to Saudi. MBS' bodyguards also carry out frequent executions and arrests of Saudi men/women who speak against the Prince.

In 2015, Saudi Arabia launched a war in Yemen against the Houthi rebels, which aggravated the humanitarian crisis in the country, and killed thousands. Infrastructure in Yemen was destroyed, and kids died from starvation. Saudi Arabia also severed ties with Qatar, as it maintains friendly relations with Iran, Saudi's key rival. MBS was considered the architect of this move. In 2017, MBS took Lebanese PM Saad Hariri hostage, and made him resign. This move strained Saudi Arabia-Lebanon relations. MBS claimed that Saad was in the pocket of Iran-backed Hezbollah, a major political force in Lebanon.

The burgeoning youth population in Saudi Arabia supports MBS and his policies, while the old-guard considers him impulsive. He has had a positive impact on the Saudi economy, by diversifying, increasing foreign investment, & pushing for reforms, however his tyrannical rule has exacerbated tensions in Saudi Arabia. It'll also be interesting to see how he tackles the Israel-Palestine conflict, since he needs Israel's support for NEOM, but his father has long been a Palestine supporter. MBS' dream of turning Saudi into a global investment powerhouse & economic force is still far away, and his numerous scandals have dented his reputation. At a time when he needs international support badly, most of his friends have turned foes, and no NY/Silicon Valley businessman wants to associate with him.