The billionaire Saudi prince Alwaleed bin Talal known for his investments in top tech firms such as Twitter and Apple, has been detained as part of an anti-corruption crackdown by the country's crown prince Mohammed bin Salman.
Shares in his Saudi-listed business Kingdom Holdings plunged more than nine per cent.
He was among a dozen princes to be detained along with four ministers and ten former ministers, Reuters reports.
Prince Mohammed was granted new powers by his father, King Salman, as chair of a new anti-corruption committee.
Prince Alwaleed is one of the richest men in the world with a fortune estimated at $19bn according to Bloomberg's billionaire's index.Let's