Elon Musk is the richest man in the world with a wealth of $313 billion, according to the Bloomberg Billionaires Index (BBI) in November 2024, and Microsoft founder Bill Gates, who was once the richest man in the world, is worth $105 billion, according to Forbes. They are however, still not the richest rich people.
There is one royal family, whose wealth far outpaces the richest billionaires of the world — exceeding them combined by at least four times — and that is the House of Saud, according to a report by the UK newspaper Express.
With a mind-boggling net worth of $1.4 trillion, the royal ruling family of the middle eastern Kingdom of Saudi Arabia, is also 16 times richer than UK’s King Charles and his family.
Where’s The Money?
The incomprehensible numbers are possible due to Saudi Arabia’s extensive oil reserves, which bankrolls the royal family’s luxurious lifestyle. Among their assets include a multitude of grand palaces, private yachts, private jets, and an enviable art collection.
Since the Ottoman Empire’s collapse after World War I, the royal families in the Middle East, including Qatar, United Arab Emirates (UAE), Kuwait and Bahrain have gained “staggering wealth”, the report noted.
The House of Saud
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.
