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...Missing Billion. King Saud's largesse is the talk of the Eastern world. But because the son of the late great Ibn Saud has never deigned to publish a statement of his revenues and expenditures, nobody knows precisely what use he has made of the underground wealth that Allah bestowed on him. In The Middle East, Oil and the Great Powers, published last week in Manhattan (Praeger...
Last year, 20 years after old Ibn Saud brought in U.S. oilmen and the golden flood began to spout out of the Arabian American Oil Co.'s wells, the government received an income in royalties and taxes of about $200 million-and managed to spend it all and $50 million besides. Since World War II, according to Shwadran's calculations, the King of Saudi Arabia has run through $1.4 billion paid him by the oil companies...
Some Middle East specialists estimate that he pays out more than $50 million a year to keep desert tribes loyal. Ibn Saud had a father's control over his 40-odd sons. Saud has only the stature of eldest brother, and the power of his purse. There is inevitable rivalry with his brother, Crown Prince Feisal, though the old King, when death was near, made the two swear on the Koran never to oppose each other...
...baked Riyadh, where old Ibn Saud lived for decades in conspicuous austerity, his offspring spread out over the desert in a $50 million complex of government buildings, palaces, fountains, swimming pools and gardens. Three new air-conditioned palaces now under construction in Jidda, Riyadh and Taif will bring the King's personal total of palaces to 24. Though the country boasts only 200 miles of surfaced roads, it continues to rate as the best Cadillac market east of Suez (250 sold this year). In a country which must import half its food, the most noteworthy farm-development project...
...Hashimites (a rival Arab dynasty that gets on reasonably well with Palestinians). Hashimite Iraq recently signed a defense treaty with NATO partner Turkey, thereby splitting up the neutral Arab bloc for the first time. King Saud, one of 40 sons of the late great Lion of the Desert Ibn Saud, has not yet proven himself as lionhearted as his father, and reportedly lives in fear that his enemies may kill him. A recent visitor to his heavily guarded palace heard him say: "I can trust nobody. I cannot trust those closest...