December 8, 2011, 1:58 pm By Stephen Simpson Investopedia.com
Here we look at surviving royal families that still command significant power.
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On April 29, Kate Middleton ceased to be a commoner and married into one of the oldest and wealthiest royal families still in existence. While the royal family fulfills only a ceremonial role in U.K. politics (and fodder for those keen on fashion or gossip) and Middleton will be assuming no rulership or political power, there is no question that her lifestyle and living conditions are about to change dramatically.
With the royal nuptials still fresh in our minds, it is worth a look at the those surviving royal families that still command significant resources and/or power. Unlike entrepreneurs, these are individuals who owe their wealth to circumstances of birth and the privileges of their position, not to actual talent or effort. Nevertheless, many of them command resources that cannot be ignored.
Thailand Takes the Top Spot
King Bhumibol of Thailand.
Thailand's King Bhumibol holds the top spot on top important lists. Not only is Bhumibol the longest-reigning monarch alive today, but he is also the wealthiest. According to Forbes, Bhumibol's fortune is estimated to be worth upwards of US$30 billion, much of that built through investments in native Thai businesses like Siam Cement and Siam Commercial Bank.
Although King Bhumibol has relatively little power as a constitutional monarch, he has intervened in Thai politics many times to help resolve crises and stories of his poor health have led to sell-offs on the Thai Stock Exchange.
Oil Makes the World Go 'Round
The Sultan of Brunei, Hassanal Bolkiah.
Perhaps not surprisingly, a large percentage of the world's richest royals derive their wealth from the natural resources of their country, and oil in particular. The Sultan of Brunei, Hassanal Bolkiah, is estimated to be worth upwards of US$20 billion and is one of the relatively few absolute monarchs still in power. With only about 25 years of estimated oil reserves left, the Sultan has yet to launch any significant attempts to diversify the Brunei economy beyond oil.
In contrast, Sheikh Khalifa bin Zayed Al Nahyan of Abu Dhabi and Sheikh Mohammed bin Rashid Al Maktoum of Dubai have tried to diversify the economies of their emirates. Nevertheless, with almost 10% of the world's oil reserves underlying his wealth, Sheikh Al Nahyan is worth roughly US$15 billion. While the financial crisis has wreaked havoc on Dubai, and the emirate had to call upon help from fellow UAE member Abu Dhabi, Sheikh Al Maktoum is still estimated to have wealth in excess of US$4 billion, and Dubai has emerged as a leading financial and tourist hub for the Mideast.
Saudi Arabia's king also belongs on this list. Another of the relatively few ruling monarchs, King Abdullah Bin Abdul-Aziz is head of a prodigious family and is estimated to be worth about US$18 billion. Though there has been rampant speculation on the health of Saudi Aramco (the state-owned oil monopoly) and the size of its remaining reserves, the Saudi royal family has been quite active in investing much of its oil-generated wealth into other businesses outside the country.
Europe's Old Money
Prince Albert II of Monaco.
Some readers may be surprised that Europe's legacy of monarchs appears rather lower on the list of wealthiest royals. Hans-Adam II of Liechtenstein is said to be worth nearly US$4 billion, with a personal fortune of at least US$2 billion built through business interests like ownership of LGT Bank. Prince Albert II of Monaco (son of American actress Grace Kelly) is likewise a billionaire, with over US$1 billion in wealth.
By comparison, Queen Elizabeth of England and Queen Beatrix come relatively far behind, with estimated net worths of US$450 million and US$200 million respectively. While much of Queen Elizabeth's wealth is in the form of real estate, jewelry and other assets, Queen Beatrix's wealth is comprised largely of real estate and investment holdings in a variety of companies.
Other Stakes of Note
King Mohammed VI of Morocco.
King Mohammed VI of Morocco is reputed to be worth about US$2.5 billion, due in large part to a sizable stake in ONA Group, a Moroccan company with assets including the country's largest phosphate miner. King Mohammed VI has been relatively active in trying to promote greater economic liberty in Morocco and an expanded range of export-oriented businesses.
Last and not least is the Japanese Imperial family. Japan's Imperial Household Agency is relatively tight-lipped about the financial details of the royal family, but it is known that a great percentage of the family's wealth was transformed to the state after World War 2. Nevertheless, the IHA does publish information on the Imperial family's annual personal expenses and that totaled over 324 million yen for fiscal 2011.
The Bottom Line
There is no doubt today that monarchs and monarchies are an anachronism that few people wish to revitalise. Nevertheless, a significant portion of the world's oil is still under the control of monarchs and even many purely ceremonial rulers hold large fortunes. While monarchies are likely to continue to fade into the dustbins of history, perhaps a few more will choose the path taken by the monarch of Thailand and at least attempt to reinvest their wealth into the industries of their own countries.
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45 COMMENTS
Sean
09:47am Sunday 11th December 2011 ESTReport Abuse
"There is no doubt today that monarchs and monarchies are an anachronism that few people wish to revitalise." There is also no doubt today after reading his drivel, that Stephen Simpson is an anachronism that requires a few people to revitalise his understanding of his subject matter. Closed-minded republicans only embarrass themselves by writing on things that they don't understand.
Graham S
09:51am Sunday 11th December 2011 ESTReport Abuse
No one would kidnap me for a ransome
AEIOUX
10:16am Sunday 11th December 2011 ESTReport Abuse
How you have been duped. The wealthiest monarch on the planet is Queen Elizabeth II. Just her land holdings are estimated to be well in excess of 17 trillion. She owns most of Canada, Australia, New Zealand. Do some research
High
10:18am Sunday 11th December 2011 ESTReport Abuse
Bill Gates should be considered an honorary person given he rules the world through his great deeds in social contribution and technology
SCOOTER
10:19am Sunday 11th December 2011 ESTReport Abuse
Tell me something, did John Howard let an ex King Of Thailand come and live in Sydney and he is a Billionaire? The other thing is i find is how do these people sleep at night like the King Of Thailand now with all that wealth and so many people in poverty, and families prostituting their kids to make a living. The Marcos were filthy rich yet so many of the people are poor? Sad to say the least. Even in our country certain mining people are filthy rich of resources that really belong to all of...
Dale
10:26am Sunday 11th December 2011 ESTReport Abuse
How is it that the Sultan of Brunei has $ 20 Billion, and we donate forgrein aid each year
SCOOTER
10:28am Sunday 11th December 2011 ESTReport Abuse
Your absolutey right. Why don't people understand "What Crown Land Is". We brought a small block of land that was owned by the Crown and on the title deeds it says' Purchased From Her Majesty Queen Elizabeth The Second", so she must have got that money. And those poor Africans working underground for about $8.00 a day and a lot of that wealth goes to her. Did you know the Queen Mother never opened a curtain in her life. Her servants did it. Anyway you have a nice...
Sean
10:28am Sunday 11th December 2011 ESTReport Abuse
Scooter, I won't bother with the question on insomnia, but John Howard was six years old when HM Bhumiphol ascended the throne. Someone's been feeding you porkies.
kid slug10:33am Sunday 11th December 2011 ESTReport Abuse
dirty towl heads are on the list comes as no surprise to me just wait till the oil drys up and then we will see.
RG Menzies
10:40am Sunday 11th December 2011 ESTReport Abuse
why do we need royals at all , sorry the rednecks need to tug the forelock at someone , the world would be better off getting rid of these paracites
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