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Saudi billionaire Prince Alwaleed bin Talal in 2014 Photo: Majdi Mohammed / AP

"Saudi authorities detained a billionaire global investor and the head of the National Guard as part of an anti-corruption purge that consolidates Crown Prince Mohammed bin Salman's hold on power," per Reuters:

  • "Prince Alwaleed bin Talal, who owns investment firm Kingdom Holding 4280.SE, was among 11 princes, four ministers and tens of former ministers detained."
  • Why it matters: "Analysts said the goal of the purge went beyond corruption and aimed to remove potential opposition to Prince Mohammed as he pushes an ambitious and controversial reform agenda."

The $ part: "Some detainees were believed to be held at the opulent Ritz-Carlton hotel in the diplomatic quarter of Riyadh ... The hotel and an adjacent facility were the site of an international conference promoting Saudi Arabia as an investment destination last month."

  • AP: "Phone lines to the hotel have been cut off since Sunday morning. ... Marriott International said in a statement that it is currently evaluating the situation at the Ritz-Carlton in Riyadh. 'As a matter of guest privacy, we do not discuss the guests or groups with whom we do business or may be visitors of the hotel."

Go deeper

Updated 2 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Health: WHO: AstraZeneca vaccine must be evaluated on "more than a press release."
  2. Politics: McConnell temporarily halts in-person lunches for GOP caucus.
  3. Economy: Safety nets to disappear in DecemberAmazon hires 1,400 workers a day throughout pandemic.
  4. Education: U.S. public school enrollment drops as pandemic persists.
  5. Cities: Surge in cases forces San Francisco to impose curfew — Los Angeles County issues stay-at-home order, limits gatherings.
  6. Sports: NFL bans in-person team activities Monday, Tuesday due to COVID-19 surge — NBA announces new coronavirus protocols.
  7. World: London police arrest more than 150 during anti-lockdown protests — Thailand, Philippines sign deal with AstraZeneca for vaccine.

Tony Hsieh, longtime Zappos CEO, dies at 46

Tony Hsieh. Photo: FilmMagic/FilmMagic

Tony Hsieh, the longtime ex-chief executive of Zappos, died on Friday after being injured in a house fire, his lawyer told the Las Vegas Review-Journal. He was 46.

The big picture: Hsieh was known for his unique approach to management, and following the 2008 recession his ongoing investment and efforts to revitalize the downtown Las Vegas area.

Dan Primack, author of Pro Rata
15 hours ago - Economy & Business

The unicorn stampede is coming

Illustration: Annelise Capossela/Axios

Airbnb and DoorDash plan to go public in the next few weeks, capping off a very busy year for IPOs.

What's next: You ain't seen nothing yet.