The new king of Saudi Arabia has been bestowing gifts — lots of gifts. King Salman bin Abdulaziz Al Saud has given an estimated $32 billion to students, government workers, soldiers, and retirees.
Those not directly receiving cash payouts are still expected to reap profit. Shop owners reportedly filled their shelves with luxury items as eager beneficiaries of the King’s largesse sought to spend their “bonuses” on the latest gadgets, fashions, and luxuries. Others, seeking the Saudi version of the “gift that keeps on giving,” have set aside their money for a second or third wife.
Out of the five million people in the Saudi workforce, three million are expected to directly benefit from these cash outlays. And those not lucky enough to be direct beneficiaries may still get a “bonus” if the company they work for is among the many in Saudi Arabia taking its cue from their King and honoring his reign with gifts of their own.