Saudi Arabia's Crown Prince, who is leading a crackdown on corruption, bought the world's priciest home
- The most expensive home in the world was revealed to have been purchased by Saudi's Crown Prince Mohammed bin Salman.
- The home sold in 2015 for $300 million, but the identity of the buyer remained a mystery.
- The purchase of the villa was part of a series of high-scale acquisitions made by the Crown Prince, who has led an anti-corruption probe targeting Saudi's most elite members.
Saudi Arabia's Crown Prince Mohammed bin Salman has been revealed as the mystery homeowner of the world's priciest residence.
The extravagant Chateau Louis XIV sold in 2015 to an unnamed Middle Eastern buyer for over $299 million (€275 million), making it the most expensive residence in the world. Paper trails now reveal the Crown Prince had acquired the 57-acre estate through a Saudi-owned investment company managed by the Crown Prince's personal foundation, according to The New York Times.
The Times reported the chateau was purchased through a series of proxy companies in France and Luxembourg, which allowed the heir to the Saudi throne to maintain his anonymity. Those companies are owned by Eight Investment Company, a firm managed by the head of Salman's personal estate.
Advisors of the royal family say the mega-mansion ultimately belongs to the Crown Prince, according to the report.
The purchase of the villa was part of a series of high-scale acquisitions made by the Crown Prince, which include a $500 million yacht and a luxury vacation palace in Morocco.
The lavish villa sits near the Palace of Versailles, and was constructed by ultra-luxury developer Cogemad over three years.
The home was built to 17th century traditional French standards, but the interior features state-of-the-art amenities including an elevator, aquarium, cinema with reclining chairs, and a wine cellar.
Previously, the most expensive home was a London penthouse that sold in 2011 for the considerably lower cost of $221 million.
Since becoming Crown Prince earlier this year, Salman has led an anti-corruption probe targeting Saudi's most elite members. The government estimates that $100 billion has been misused through embezzlement and corruption in past decades.
Saudi Arabia has asked several top officials caught up in the crackdown to pay 70% of their wealth in return for their freedom, and officials are hoping to receive at least $100 billion back from the arrested members.