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Monday June 24, 2024

This family worth $1 trillion, lives in 1,000 room palace, travels in gold plated cars

The royal family of Saudi Arabia is 16 times richer than the British royal family

By Web Desk
May 04, 2024
The House of Saud is the ruling dynasty  of Saudi Arabia. — Luxury Launches/File
The House of Saud is the ruling dynasty  of Saudi Arabia. — Luxury Launches/File

The house of Saud has been the ruling dynasty of Saudi Arabia since 1932.

The Al Saudi family has a net worth of $1.4 trillion. It is four times the combined wealth of two of the world’s top billionaires, Luxury Launches reported.

They are 16 times richer than the British royal family.

The head of the family, and the king of Saudi Arabia, Salman bin Abdul-Aziz Al Saud, and his son, Crown Prince Mohammed bin Salman, are extraordinarily wealthy though their net worth has not been disclosed. Many speculate MBS’s wealth to be around $25 billion.

Currently, the known wealthiest member of the family is Alwaleed bin Talal Al Saud who has an estimated net worth of $20 billion.

Much of the Al Saud’s wealth comes from the vast oil reserves that the kingdom has. The family owns Saudi Aramco which is one of the most profitable oil companies in the world.

The House of Saud comprises 15,000 members, out of which 2,000 possess the majority of the wealth.

The family resides in the magnificent Al Yamamah Palace, built in 1983. The palace has 1,000 rooms, and amenities such as a movie theater, a mosque, a bowling alley, and multiple swimming pools.

Beyond palaces and paintings, the family also owns multiple luxury yachts including MBS’s $400 million superyacht Serene.

The family also owns a fleet of private jets including a massive Boeing 747-400.