Thailand’s revered King Bhumibol Adulyadej is the world’s richest royal, with a fortune estimated at $US35 billion, according to a Forbes magazine list dominated by Middle Eastern monarchs riding high on surging oil prices.
King Bhumibol, 80 years old and the world’s longest-reigning monarch after six decades on the throne, is regarded as semi-divine by many Thais.
Forbes called it a good year for monarchies, investment-wise. “As a group, the world’s 15 richest royals have increased their total wealth to 131 billion dollars, up from 95 billion last year”. With oil prices soaring, the monarchs of the petro-kingdoms of the Middle East and Asia dominate the list.
Sheik Khalifa, 60, the current president of the United Arab Emirates, was estimated to be worth 23 billion dollars, on the back of Abu Dhabi’s huge petroleum reserves.
In third was the sovereign of the world’s biggest oil exporter, Saudi Arabia. King Abdullah bin Abdul Aziz, 84, who inherited the Al-Saud family throne in 2005, came in with a fortune of 21 billion dollars.
Forbes noted that because many of the royals inherited their wealth, share it with extended families, and often control it “in trust for their nation or territory,” none of those on its list would qualify for the magazine’s famous annual world billionaires ranking.
“Because of technical and idiosyncratic oddities in the exact relationship between individual and state wealth, these estimates are perforce a blend of art and science,” it added. (Source AFP)
Following is Forbes’ ranking of the world’s richest royals:
1. King Buhimol Adulyadej (Thailand)
2. Sheikh Khalifa bin Zayed al-Nahayan (United Arab Emirates)
3. King Abdullah (Saudi Arabia)
4. Sultan Hassanal Bolkiah (Brunei)
5. Sheikh Mohammed Bin Rashid al-Maktoum (Dubai)
6. Prince Hans Adam II (Liechtenstein)
7. Sheikh Hamad bin Khalifa al-Thani (Qatar)
8. King Mohammed VI (Morocco)
9. Prince Albert II (Monaco)
10. Sultan Qaboos bin Said (Oman)
11. Prince Karim Al Husseini (Agha Khan)
12. Queen Elizabeth (Britain)
13. Sheikh Sabah al-Ahmad al-Sabah (Kuwait)
14. Queen Beatrix (Netherlands)
15. King Mswati III (Swaziland)
Please see more detailed Article by Forbes (The Crowning Fortune) on Thai King’s wealth here:
http://www.forbes.com/magazines/global/2008/0901/032.html
The $35 billion is misleading, since, as stated clearly in the new Forbes Article, the Bangkok real estate holdings are worth $31 billion.
Research for 2005, shows the total income of Crown Property Bureau (CPB) at $280 million (adjusted for current exchange rate). In that total, $200 million was from company dividends, and only $80 million from the real estate. This is consistent with the recent Bangkokpost citation that most of CPB’s land is leased at low-priced, below market rate to state agencies, NGOs, and low-income tenants. It was also stated that only 7% of the land is leased at commercial rates. Paul Handley makes the same comment in the new Forbes Article that the CPB is not charging market rates, and that “raising them would cause serious repercussions, especially for its thousands of low-income tenants.”
How much of the annual income generated by the CPB goes to charity is unknown, but I am sure a good share of it does go to charity.
So, don’t treat the $35 billion figure as if it was the King’s disposable income. It is not. The greater bulk, ie. $31 billion, is real estate leased cheaply to state agencies and low-income people, and most of the rest is in share holdings which are invested in the long-term (good for economic stability).
The new Forbes Article makes the point that the CPB’s goal is: “to aid the country’s development by investing in key industries and providing below-market-rate housing for low-income citizens.”
So I think the King is using his assets wisely and for benefit of Thailand
Fair enough :)
Who whould have thought sucking blood is more profitable than oil.
dictator ali khameni with 53 bilyon frist in word