The Wealth of the Saudi Royal Family: An Overview
The Saudi Royal Family is one of the wealthiest families in the world, with an estimated net worth of over $1.4 trillion. The family’s wealth is derived from a range of sources, including oil revenues, real estate, investments, and other business ventures. Here we’ll will take a closer look at the wealth of the Saudi Royal Family and how it has been accumulated, and lavishly spent over the years.
The Origin of the Saudi Royal Family’s Wealth: Oil Revenues
The Saudi Royal Family’s wealth can be traced back to the discovery of oil in the kingdom in the 1930s. Since then, oil has been the main source of income for the family, accounting for the majority of their wealth. The Saudi government controls the state-owned oil company, Saudi Aramco, which is the largest oil company in the world. The revenues generated from oil sales have been used to fund various government programs and initiatives, as well as to support the lavish lifestyle of the royal family.
The Investments and Business Ventures of the Saudi Royal Family
In addition to oil revenues, the Saudi Royal Family also has a significant presence in the business world. The family has investments in a range of industries, including real estate, technology, and finance. Some of the most notable investments of the royal family include the Kingdom Holding Company, which has a portfolio of investments in companies such as Citigroup, News Corporation, and Twitter. The royal family is also involved in various other business ventures, including the development of luxury hotels and the construction of large-scale infrastructure projects.
Lavish Spending of the Saudi Royal Family
Despite the wealth of the Saudi Royal Family, the kingdom faces a range of economic and social challenges. In recent years, the government has been implementing various reforms to address these challenges and to diversify the economy away from its reliance on oil. Despite these efforts, the lavish spending of the royal family has continued, with reports of extravagant purchases, including private jets, yachts, and luxury cars. This has led to criticism from some quarters, with some suggesting that the royal family’s spending is at odds with the needs of the wider population.
MBS’s $458 Million “Serene” Yacht
The Future of the Saudi Royal Family’s Net Worth
Despite the challenges faced by the kingdom, the wealth of the Saudi Royal Family is expected to remain significant in the coming years. The family has made significant investments in a range of industries and businesses, which are expected to generate substantial returns in the future. However, there are also concerns about the future of the oil industry, with some experts predicting a decline in demand for oil. The future of the Saudi Royal Family’s Net Worth will depend, in part, on how Mohammed bin Salman responds to these challenges and how successful he is in his efforts diversify the economy and attract new investment.