According to the business consultancy firm Brand Finance, the estimated net worth of the British royal family is $88 billion. Yet, that monarchy isn’t even close to being the wealthiest royal family in the universe.
The Saud Family’s Net Worth
That difference probably goes to the House of Saud, the reigning royal family of Saudi Arabia. With 15,000 family members (however, just around 2,000 among them own most of the wealth), the House of Saud is anticipated to be worth around $1.4 trillion. And this is about sixteen times more than the net worth of the British royal family.
Similar to their British counterparts, the members of the Saudi royal family are famously secretive and tight-lipped regarding their fate.
However, the available information states an invidious lifestyle packed with huge spending, luxury yachts, private jets, top-of-the-line helicopters, extensive mansions, and a majestic castle done up with gold furniture along with a gold-plated Kleenex dispenser.
However, the royal family members also help by providing financial assistance to those who are in need via charitable organizations and also investing in the people of Saudi. The country committed millions to a World Bank fund for female entrepreneurs most recently.
Origin of the Family Wealth
Over 75 years ago, their riches stem from the massive oil reserves unveiled under the ruling of King Abdulaziz ibn Saud.
The nation’s state-owned natural gas and petroleum company named Saudi Aramco is valued by a few people at over $2 trillion and in case that valuation is appropriate, it would be one of the most profitable oil companies in the world.
The Leader of the Pack
King Salman of Saudi Arabia is one of the most influential members of the royal family, who came after his deceased brother Abdullah bin Abdulaziz Al Saud back in 2015.
According to reports, worth $17 billion, the 82-year-old has transferred the majority of the nation’s leadership to his son and heir to the throne Crown Prince Mohammed Bin Salman, 36.
The Future of the Royal Family
In 2017, in an attempt to tighten up on corruption, the crown prince pushed the wealthiest people of the country to hand their fates to the state and many of his own relatives were also included in this.
As a consequence, Forbes dumped 10 Saudis from its yearly list of billionaires in the world.
The country says it has managed to recover over $100 billion with the help of this “corruption campaign,” however, that statistic is just infeasible to authenticate.
The Finer Things
As per the New York Times, recently, the heir acquired a Da Vinci painting for $450 million, a yacht for $500 million, and a French mansion for $300 million. According to reports, he also owns 2 estates in London and a compound on Spain’s southern coast.
During an interview with CBS News, the Crown Prince stated that his finances were a personal matter and that he wasn’t required to apologize for a luxurious lifestyle. He said “I’m a rich person and not a poor person.
I’m not Gandhi or [Nelson] Mandela,” adding further “I’m a member of the ruling family that existed for hundreds of years before the founding of Saudi Arabia.”
Further, the Crown Prince also stated that a major part of his wealth proceeds for charitable purposes. He added, “I spend at least 51 percent on people and 49 on myself.”
We will keep you updated with all the latest information until then stay tuned to our website.