Saudi billionaire Al-Waleed bin Talal has sold his remaining stake in Rupert Murdoch’s 21st Century Fox Inc., according to Bloomberg. Bin Talal had been a shareholder in Murdoch’s companies for about 20 years, the news agency added.
The Saudi prince began investing in Fox News in 1997 and was one of the top holders of Fox’s Class B shares, which had given him the rights to vote before he reduced his holding in Murdoch’s News Corp. publishing company three years ago.
Bin Talal’s net wealth has shrunk after the Saudi anti-corruption crackdown, which started at the beginning of this week. The Saudi government arrested 11 princes, including prince Al-Waleed bin Talal, as well as former and current ministers as part of the anti- corruption purge, which started on 4 November.