Sunday, December 22, 2024

World’s richest royal family worth 4 times more than Elon Musk and Bill Gates

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The British royal family is estimated to be worth around £69 billion ($88 billion), according to Forbes, with their wealth coming from concrete assets including properties, as well as the value of the family brand.

Valuable assets among the Royal Family include the highly lucrative Duchy of Cornwall and the Duchy of Lancaster estate which comprises land, property and other assets which all belong directly to the Sovereign.

The prestigious Savoy Hotel and Somerset House are included in the Duchy of Lancaster estate with net assets amounting to roughly £652.8 million ($755.4m).

King Charles’ personal fortune is estimated to be around £559.6 million ($772 million), making him the 258th wealthiest person in the United Kingdom.

But there is one royal family that far surpasses most with a net worth four times more than Elon Musk and Bill Gates combined.

The richest royal family in the world goes to the House of Saud who is the ruling royal family of Saudi Arabia.

They have a net worth of a staggering £1.1 trillion ($1.4 trillion).

To put that in contrast, the richest man in the world, Elon Musk, has a net worth of £264.8 billion ($304 billion) with Microsoft mogul turned philanthropist, Bill Gates, having a net worth of £81.5 billion ($105 billion).

The House of Saud’s net worth is so extensive compared to the British royal family it is estimated to be roughly 16 times that of King Charles’s family.

Their eye-watering wealth is largely due to vast oil reserves with the Saudi Arabian royal family’s luxurious lifestyle including a host of grand palaces, private jets, over-the-top yachts and a highly lucrative art collection.

This staggering wealth among the royal family in the Middle East has been synonymous with many regions despite monarchies previously having limited authority under the Ottoman Empire.

Since its collapse after World War I, monarchies in the Middle East have seen their power and wealth increase exponentially.

Almost all of their wealth comes down to the powers exploiting their valuable resources found within this region with Gulf monarchies in particular continuing to thrive.

As such, royal families from the United Arab Emirates (UAE), Oman, Bahrain, Qatar, Kuwait and Saudi Arabia have been smiling to the banks, living a life one could only dream of.

The royal family of Saudi Arabia consists of around 15,000 members with the majority of wealth being held by around 2000 relatives.

King Salman bin Abdulaziz Al Saud is the current head of the family and has held that title since the beginning of his reign in 2015.

The King’s most famous son and apparent heir is Mohammed bin Salman, also known as MBS and is also the current Prime Minister of Saudi Arabia who is seen by many as the de facto ruler of the country.

With such vast wealth, a number of excessive purchases have been made by the royal Saudis over the years which includes several other properties scattered around the world such as France’s Chateau Louis XIV, bought by MBS for some £235 million ($300 million) (£235m) and also includes purchases by MBS of a Leonardo da Vinci’s Salvator Mundi painting £349.6 ($450 million) and a £392 million ($500m) yacht – pocket change for such wealth.

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