Oil tycoons are applauding Saudi Arabia’s recent anti-corruption raid, which has boosted the net worth of the world’s 21 largest oil tycoons by $1.4 billion, according to Bloomberg. The boost came on the back of increased crude prices as reports of the arrests emerged. The net worth of Saudi investor Prince Alwaleed bin Talal, on the other hand—one of the arrested princes—sunk to its lowest level in 5.5 years. His biggest asset, the Kingdom Holding Co., took most of the losses. The Bloomberg index of billionaires dropped Talal’s ranking 11 places to No. 61. In total, his net worth has sunk $2 billion since the anti-corruption team announced his arrest. Now, he owns a $17 billion fortune, valued at less than half of its 2014 peak. Crown Prince Mohammed bin Salman’s purge took down Talal in a move that “would be like arresting Warren Buffet or Bill Gates in […]