PRINCE Muhammad Bin Salman has ascended to the position of Crown Prince on Wednesday. The prince was also named deputy prime minister and maintains his post as minister of defense.
In recent years, Prince Muhammad has become the government’s face of reform, modernization and change.
The crown prince, who was born in 1985, also served as the chief of the royal court, and chairs the powerful Council for Economic and Development Affairs.
In the Kingdom, where around 60 percent of the population is under 30, the relatively-young crown prince is seen as critical in the push toward reform.
Former US President Barack Obama described him in an interview with Al Arabiya News Channel as “extremely knowledgeable, very smart” and “wise beyond his years.”
Action in Yemen
Before his appointment as deputy crown prince in late April, Prince Muhammad’s powerful government positions placed him in the spotlight. Just two months into his tenure of defense minister, Saudi Arabia and its Arab allies led a coalition in Yemen.
The campaign, initially titled "Operation Decisive Storm," saw the collation bombing Iranian-backed Houthi militias and forces allied to deposed leader Ali Abdullah Saleh, in a bid to put the government of internationally recognized President Abdrabbu Mansour Hadi back in power.
Economic focus
Last year, Prince Muhammad moved into what he has indicated is his most important role: transforming the Kingdom’s economy and reducing its dependence on oil revenues.
In January 2016, Prince Muhammad gave his first on-the-record interview, where he made a surprise disclosure: that the Kingdom was studying a limited IPO of Aramco, the state-owned oil giant which is believed to be the world’s most valuable firm. “I believe it is in the interest of the Saudi market, and it is in the interest of Aramco,” he told the London-based Economist magazine.
He also told the magazine that the government was looking at implementing value-added tax and would privatize certain sectors of the economy.
In a marathon interview with US-based news outlet Bloomberg in April 2016, Prince Muhammad discussed the Kingdom’s soon-to-be unveiled National Transformation Plan, part of a sweeping package of reforms known as "Vision 2030."
Prince Muhammad told Bloomberg that the Kingdom would dramatically expand its Public Investment Fund, a sovereign wealth fund, to reach around $2 trillion in assets. The sale of around 5 percent of Aramco’s shares would be placed into the fund, he added.
“What is left now is to diversify investments,” the crown prince said. “So within 20 years, we will be an economy or state that doesn’t depend mainly on oil.”
A second, even longer interview with Bloomberg later that month, Prince Muhammad expanded further on his plans to transform the Kingdom’s economy.
The interview also highlighted the prince’s personal life – his long hours, fluency in English, love of reading books by Sun Tzu and Winston Churchill, and choice to have just one wife.
On April 25, 2016, the Saudi government unveiled Vision 2030, including a series of developmental, economic, and social programs.
The same day, Al Arabiya News Channel aired an exclusive interview with the prince. During the interview, he pledged to end the Saudi economy’s dependence on oil revenues by 2020.
“The Kingdom can live in 2020 without any dependence on oil … the Saudi addiction to oil has disturbed development of many sectors in past years,” he told Al-Arabiya News Channel’s Turki Aldakhil.
Prince Muhammad also discussed measures to lift subsidies on the Kingdom’s wealthy citizens and assist the country’s poor.
The measures, as part of the Saudi Vision for 2030, will be implemented on everyone, “including princes and government ministers,” Prince Muhammad said. “This is a promise.”
Early life
Prince Muhammad Bin Salman, the son of Custodian of the Two Holy Mosques King Salman, received his education at Riyadh Schools, where he ranked among the top 10 students upon graduation. He received his bachelor’s degree in law from King Saud University, where he graduated second in his class.
Before pursuing a career in public service for the Kingdom, Prince Muhammad gained international experience in corporate governance and international finance.
He began his political career as a consultant to the Experts Commission under the Saudi Cabinet.
On Dec. 15, 2009, Prince Muhammad was appointed special adviser to then Prince Salman Bin Abdulaziz, who at the time was emir of Riyadh Province. During this period, Prince Muhammad was secretary-general of the Riyadh Competitive Council.
He was also a special adviser to the chairman of the Board for the King Abdulaziz Foundation for Research and Archives.
Prince Muhammad then became supervisor of the Crown Prince’s Office.
In March 2013, by royal decree, Prince Muhammad was appointed head of the Crown Prince Court with the rank of minister and special adviser to then Prince Salman. On April 25, 2014, he was appointed as a state minister and member of Cabinet.
His long history of philanthropic initiatives has also earned him many awards.
In 2011, Prince Muhammad established the Prince Muhammad Bin Salman Foundation, otherwise known as MISK, which enables young Saudis to learn, develop and progress in the fields of business, literature, culture, science and technology and sociology. — Al Arabiya English
