Saudi succession issue overshadows economic reform

All in the Saudi family: Crown Prince Mohammed bin Nayef, left, King Salman, center, and Deputy Crown Prince Mohammed bin Salman 

Saudi Arabia, the world's largest oil exporter, has introduced ambitious reforms aimed at diversifying the economy to wean the nation off its reliance on the resource.
In the latest sign of the Saudi government's efforts to become less dependent on oil revenues, on June 1 the country's sovereign fund invested $3.5 billion in U.S. ride-hailing company Uber Technologies.
The economic overhaul is being led by Deputy Crown Prince Mohammed bin Salman, the 30-year-old son of King Salman.
The reform drive is the kingdom's response to the significant changes that have occurred in recent years in the world economy and the region's geopolitical landscape, including the collapse of oil prices, a U.S. focus on Iran and the wave of terrorism led by the Islamic State group.
Another important factor at play is the succession issue in the Saudi royal family.

Family ties
Prince Mohammed was appointed deputy crown prince by his father, the 80-year-old Saudi monarch, in April 2015.
With the king's backing, the young prince has amassed political power and started wielding it in an assertive manner. He is now the defense minister as well as the architect of economic policy.
Prince Mohammed bin Salman is next in line to the throne after his cousin, Crown Prince Mohammed bin Nayef, who is 56. Both are grandsons of the first king.
All six of the Saudi kings after Abdulaziz ibn Saud, the first monarch and founder of Saudi Arabia, are the sons of ibn Saud, including the current king.