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Westferry Times > World > World > Richest family in the world have more cash than Elon Musk and Bill Gates combined
World

Richest family in the world have more cash than Elon Musk and Bill Gates combined

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By admin Published December 26, 2024
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House of saud: Richer than Elon Musk and Bill Gates combined

The british royal family, with a net worth of approximately £69 billion ($88 billion), is often viewed as one of the wealthiest dynasties in the world. Their fortune, built on tangible assets like the duchy of cornwall, the duchy of lancaster, and a highly profitable family brand, has long been admired. However, their immense wealth pales in comparison to the staggering riches of the house of saud, the ruling royal family of Saudi Arabia, whose net worth dwarfs even the combined fortunes of tech titans Elon Musk and Bill Gates.


British Royals: A wealth built on legacy

The British monarchy’s wealth stems largely from real estate, landholdings, and investments. Among their most valuable assets is the Duchy of Lancaster estate, which includes the prestigious Savoy Hotel and Somerset House. The estate alone boasts net assets worth approximately £652.8 million ($755.4 million).

King Charles III, whose personal wealth is estimated at £559.6 million ($772 million), ranks as the 258th richest individual in the United Kingdom. Despite this, the monarchy’s combined net worth remains far behind that of the House of Saud, highlighting the vast disparity between these two royal dynasties.


The house of saud: Wealth beyond comprehension

The house of saud, ruling Saudi Arabia since 1932, holds an extraordinary net worth of £1.1 trillion ($1.4 trillion). This figure is roughly 16 times the wealth of the british royal family and four times greater than the combined fortunes of Elon Musk (£264.8 billion/$304 billion) and Bill Gates (£81.5 billion/$105 billion).

Unlike the British monarchy, whose fortune is tied to centuries-old estates and the modern value of their global brand, the House of Saud’s wealth is primarily derived from Saudi Arabia’s vast oil reserves. This oil-driven economy has funded the family’s luxurious lifestyle, including sprawling palaces, fleets of private jets, multimillion-pound yachts, and a dazzling art collection.


Extravagant purchases

The house of saud is no stranger to extravagant spending. One of their most notable acquisitions is France’s Château Louis XIV, purchased by Crown Prince Mohammed bin Salman (MBS) for an eye-watering £235 million. In 2017, MBS made headlines again with his record-breaking purchase of Leonardo da Vinci’s Salvator Mundi for £349.6 million, a testament to the family’s unparalleled buying power.

A £392 million superyacht also sits among the family’s luxurious assets, underscoring the scale of their affluence. For the Saudis, these acquisitions are mere pocket change, further cementing their status as the richest royal family in the world.


A dynasty of thousands

The house of saud comprises around 15,000 members, though the bulk of the family’s wealth is concentrated among approximately 2,000 relatives. At the helm is King Salman bin Abdulaziz Al Saud, who has ruled since 2015. His son and heir, Crown prince mohammed bin Salman, also serves as Saudi Arabia’s Prime Minister and is widely regarded as the kingdom’s de facto ruler.


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Wealth in the gulf

The immense wealth of Middle Eastern royal families, particularly those in the Gulf, is a relatively recent phenomenon. Under the Ottoman Empire, monarchies in the region had limited power and influence. However, the empire’s collapse after World War I allowed these monarchies to rise to prominence, exploiting their vast reserves of oil and gas to amass enormous fortunes.

Today, royal families from the United Arab Emirates, Qatar, Kuwait, Oman, Bahrain, and Saudi Arabia continue to prosper, living lives of opulence that few can fathom.


A wealth divide

While the British Royal Family’s wealth remains impressive by global standards, the riches of the House of Saud highlight the economic power of oil-rich monarchies. Their financial dominance, built on natural resources, enables them to live lives of unparalleled luxury, making even the world’s wealthiest individuals appear modest by comparison.

The house of saud’s extraordinary fortune, measured in trillions, ensures that they remain not just the richest royal family in the world, but one of the most powerful dynasties in history.

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