- Saudi Arabia's Crown Prince Mohammed Bin Salman bought Leonardo da Vinci's $450 million "Salvatore Mundi" painting, the latest in a series of impulse purchases.
- The news comes amid Bin Salman's crackdown on corruption and imposition of austerity measures.
News that Saudi Arabia's Crown Prince Mohammed Bin Salman bought the $450 million Leonardo da Vinci painting came as a shock to the Western world.
But to those who have followed the Prince, it's just the latest in a series of jaw-dropping purchases.
The Wall Street Journal reports that Prince Mohammed was the mystery buyer of Leonardo da Vinci's "Salvatore Mundi," which was auctioned off at Christie's last month for $450 million – the highest price ever paid for a work of art.
Initially, the New York Times reported that the buyer was Prince Bander, a friend of Prince Mohammed's. But the Wall Street Journal reports that Prince Bander bought it as a "proxy" for Prince Mohammed.
The news is sure to send ripples through the Middle East – not just because the leader of a Muslim nation bought a portrait of Christ. But also because Prince Mohammed is leading a crackdown on corruption and imposing new austerity measures in Saudi Arabia.
Yet the 32-year-old Crown Prince's purchase is just the latest of his nine-figure shopping sprees. Two years ago, he was vacationing in the South of France and admired a 440-foot yacht in the distance, owned by Russian vodka magnate Yuri Shefler. The Prince sent an aide to buy the ship for over $500 million. Shefler sold it, moved off and turned the ship over to the Prince the same day.
He is also building a giant resort near Jidda, with seven palaces for the family – all built around a giant artificial lake in the shape of a flower.
It's unclear where the da Vinci will hang. But at least for a while, it will go to the Louvre Abu Dhabi.
The Saudis have not yet responded to CNBC's request for comment.