S&P Index data is the property of Chicago Mercantile Exchange Inc. and its licensors. 3 Salman bin Abdulaziz Al Saud: King of Saudi Arabia Saudi Arabia One of King Maha Vajiralongkorn’s first major acts was to transfer all the holdings in the vast company, known as the Crown Property Bureau, to his personal ownership, giving him control of more wealth than the reported riches of the Saudi king, the sultan of Brunei and the British royal family combined. You may occasionally receive promotional content from the Los Angeles Times. The assets are now subject to taxes for the first time, but little else about the portfolio has changed. King Mohammed has sat on his throne since the year 1999, and aside from being a King, he is also known as a businessman. “One of the top things that people think about is how can the monarchy accumulate such really high wealth and we don’t really know anything about it.”, ‘We are fighting for real democracy’: Why protesters are taking on Thailand’s king. We look at his shares and properties, his women, his jewellery and his education Amid crippling sanctions, Iranian traders seek lifeline in Iraq. He has reigned for 64 years, the longest reigning monarch in Thailand’s history and the longest serving current head of state in the world. King Maha Vajiralongkorn and his wife, Queen Suthida, wave from the balcony of Bangkok’s Grand Palace during his May 2019 coronation. The Islamic State has claimed responsibility for a rare and deadly twin suicide bombing that killed at least 32 people and wounded dozens in central Baghdad. It appears that King Maha Vajiralongkorn’s social calendar stops for no pandemic. It’s the king’s own personal property. Another source of income is from the newspaper of which he is the publisher. Democrats ask ethics panel to investigate Sens. Don King is a businessman and well known for his boxing promotions, has an estimated net worth of $170 million as of May 2020. Bhumibol Adulyadej net worth is estimated at $30 billion. Thailand's 50 Richest 2020: Forbes Asia ranks Thailand's wealthiest business people. “When the protesters talk about the monarchy as an institution, the CPB is at the core,” said Pongkwan Sawasdipakdi, a lecturer at Thammasat and a doctoral candidate in international relations at USC. As of 2020, his net worth is estimated to be around US$30 billion, making him the wealthiest ruler in the world. Quotes delayed at least 15 minutes. The King is currently quarantining outside of Tha… 5. Thailand’s King Maha Vajiralongkorn is estimated to be worth up to US$43 billion. Thai King Maha Vajiralongkorn has married his long-term consort Suthida Vajiralongkorn na Ayudhya, ... 23, proposed with emerald-cut diamond estimated to be worth up to $1.2M Dog spent days outside Turkish hospital waiting for owner. Newer tenants include Bangkok’s top shopping malls and luxury hotels. Get the Latinx Files newsletter for stories that capture the multitudes within our communities. Very few would ever contemplate crossing continents to attend a dinner party. Royal Family net worth: FOUR billionaire royal dynasties richer than Britain's BRITAIN'S Royal Family's net worth is far behind some the world's richest royal dynasties, a new study has claimed. He previously covered South Asia from Mumbai, India, and national security from the Washington bureau. Dozens of clinics have cropped up around the U.S. to address a puzzling and troubling aspect of COVID-19 — the after-effects that can stubbornly afflict some people weeks or months after the infection itself has subsided. But is the party over for Thailand’s King Maha Vajiralongkorn? Terms & Conditions. Thai King 'is the world's richest monarch' - Thai King Bhumibol Adulyadej is the world's richest monarch with a personal fortune worth USD 35 billion, according to the 'Forbes' magazine. As President Biden takes office, the rest of the world watches closely, some less focused on Biden’s ascension than on Trump’s departure. The bureau’s biggest corporate investments — in Siam Commercial Bank and Siam Cement Group, an industrial conglomerate in which it holds a 34% stake — were together worth about $8 billion at the end of last year, according to the companies’ annual reports. People in Thailand are not allowed to criticize his rule, as the monarchy is protected by one of the strictest lèse-majesté laws in the world. Critics say the opaque system allows the king to treat land deals as political favors, at odds with demonstrators’ goal of a modern constitutional monarchy. The King of Thailand, Bhumibol Adulyadej, has an estimated net worth of $30 billion as of 2011 according to Forbes. The last category includes the U.S. government, which for decades has rented the ambassador’s residence — a stately, blue-shuttered mansion surrounded by lawns — for just “a few hundred dollars” a month, Joehnk said. A devoted dog spent days waiting outside a hospital in northern Turkey where his sick owner was receiving treatment. The king removed the finance minister and the bureau’s long-standing director-general from the board and installed his private secretary, a 69-year-old with no finance or economics background, as chairman and several other loyalists as members. Based on the most recent net worths available, Queen Elizabeth II—whose net worth is estimated to be US$520 million (S$712 million)—placed 11th, behind Prince Albert II of Monaco. The mostly peaceful demonstrations began this summer. PHOTO: EPA-EFE. Other properties in the area have also been retaken by the crown, fueling speculation that Vajiralongkorn might build Bangkok’s first new royal palace in more than a century. The company covered the payment, reportedly close to $6 million. The current ruler’s father, King Bhumibol Adulyadej, who reigned for 70 years, was portrayed in royalist propaganda as so frugal that he never wasted a dab of toothpaste — even as Thailand grew into an economic engine of Southeast Asia and the crown’s investments multiplied in value. The White House says President Biden has proposed to Russia a five-year extension of a nuclear arms treaty that is set to expire in February. Even from that distance he has taken a more assertive role in Thai politics, brought two military units under his command and changed the law to allow himself to reign from abroad. FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. Activists see a double standard in social media companies’ response to the Capitol attack and their tolerance for violent rhetoric abroad. In 2017 it signed over several adjoining plots to build Thailand’s biggest private development, a $3.6-billion complex of hotels, condos and a mall on what had been a boxing stadium and night market. Although the bank’s shares have lost half their value during the pandemic, dividends from the two publicly traded companies generated $342 million in income for the king in 2019. Estimates of King Maha Vajiralongkorn's personal wealth start at US$30 billion (S$41 billion). “The development of royal land for royal purposes [would be] new, though.”, Those seeking answers from the bureau, which didn’t respond to an interview request, would be disappointed. “There is a fair amount of land being developed, but it is not clear to me that there is a shift in the investment strategy,” Joehnk said. Thailand’s King Maha Vajiralongkorn is carried on a palanquin during his coronation in Bangkok in 2019. Although the king is one of the most famous and successful boxing promoters, he has aggressively tarnished the reputation of the sports world w… But Porphant found that 93% of the land generated little to no income, rented at “much lower than market rates” to slum communities, state agencies, schools, foundations and others with special relationships to the crown. “The assumption must be that the monarch is now the principal decision-maker,” said Tom Felix Joehnk, a Bangkok-based writer and economist. Tens of thousands of peaceful demonstrators have gathered in rallies since early summer, a remarkable political reawakening in a country that abolished the absolute monarchy in favor of a parliamentary system in 1932 but has steadily drifted away from democratic rule. Facebook banned Trump but has failed to react quickly to other leaders who incited violence. According to the latest reports by both Forbes Magazine and The Business Spectator, the Thai King is worth … The army, with royal support, has toppled a succession of civilian governments and now controls the parliament and nearly every state institution. Powered and implemented by Interactive Data Managed Solutions. Amazon won’t be forced to immediately restore web service to Parler after a federal judge ruled Thursday against a plea to reinstate the fast-growing social media app favored by followers of former President Trump. In speeches and with champagne toasts, many across the world bid Trump ‘good riddance’. 2. Bhumibol Adulyadej, the King of Thailand, is the longest-reigning monarch in Thai history, with an estimated wealth of $30 billion in 2014, according to … The Crown Property Bureau (CPB), which has been managing royal assets … King of Thailand Net Worth: According to Thailand's constitution, the King has the power to veto legislation, pardon criminals, and appoint just about anyone he … Created in 1936 to manage the crown’s institutional assets and cover some of its expenses, the bureau operates in a legal netherworld — neither a government agency nor a private institution, nor part of the palace — and in near-total secrecy from inside a butterscotch-yellow Italianate villa in Bangkok’s leafy royal district. Net worth Source of wealth 1 Vajiralongkorn: King of Thailand Thailand: $43 billion — $30 billion: Investments derived from the Bureau of the Crown Property. King Maha Vajiralongkorn is estimated to be worth US$30 billion. By Divya Verma A look at how Thai King Maha Vajiralongkorn formally signed the royal family’s fortune over to himself. All rights reserved. Structural Info Net Worth The royal assets, which were held for more than 80 years on behalf of the monarchy, were reportedly worth tens of billions of dollars. Parts of its website pull up empty pages; most of the English-language site is “under construction.”, “The status of the organization is clear now, whereas it wasn’t so clear before,” said Kevin Hewison, an emeritus professor of Asian studies at the University of North Carolina at Chapel Hill. Those assets — conservatively valued at $70 billion — are now a focus of a pro-democracy movement clamoring for greater transparency into the monarchy’s finances and limits on its extensive powers. Tens of thousands rallied in Bangkok on Thursday evening, ignoring a government ban on protests and chanting for the release of about 40 activists arrested in the last week. Yet, that’s exactly what the Thai King did last week. But there’s much less information about it.”. Still, the bureau has sought to extract more money from its land since the 1997 Asian financial crisis temporarily wiped out its income. Educated at boarding school in Britain and a military academy in Australia, the 68-year-old monarch is married to his fourth wife and spends almost all his time in Germany, often in the company of a girlfriend known as the “royal consort” and a retinue of attendants and security. He is substantially wealthier than the second richest family in Thailand. Opposition politicians led by lawmaker Thanathorn Juangroongruangkit have also challenged an additional $1 billion in public funds earmarked for the monarchy in the 2020 budget — including security, travel, ceremonies and “special activities” — while the economy is projected to shrink by 8%. KING OF MOROCCO – Net Worth: $5.7 Billion; He is known as Mohammed Vi, and he is said to be worth over 3 billion dollars. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell My Personal Information | Ad Choices  Tiong Thai King 18,221 53% Wong Sing Nang 15,813 46% 1999: Tiong Thai King 16,256 62% Wong Ho Leng 9,466 36% 2004: Tiong Thai King 14,895 59% Wong Kee Woan 10,174 40% 2008: Tiong Thai King 19,476 57% Wong Kee Woan 14,612 42% 2013: Tiong Thai King 17,983 40% Alice Lau Kiong Yieng 26,613 59% First-ever global treaty to ban nuclear weapons enters into force. Shashank Bengali is a Southeast Asia correspondent for the Los Angeles Times, based in Singapore. But the estimated portfolio makes him the world’s richest monarch, a man who owns lakeside villas outside Munich, Germany, and rents out a hotel in the Bavarian Alps. Ted Cruz and Josh Hawley “to fully understand their role” in the Jan. 6 insurrection at the Capitol by supporters of former President Trump. Thailand’s King Maha Vajiralongkorn is the richest royal in the world, with an estimated net worth of US$43 billion. Offers may be subject to change without notice. 2 Hassanal Bolkiah: Sultan of Brunei Brunei: $28 billion — $20 billion: Profits from oil and gas industry. Scrutiny of these assets was long seen as unnecessary because the monarchy and its holdings had “proved themselves to be of no financial burden to the country,” Porphant wrote. Thailand’s King Maha Vajiralongkorn joined the ranks of the world’s richest monarchs, after the royal family formally turned over its multi-billion dollar fortune to him. In 2018 the capital’s much loved zoo suddenly announced it was moving from crown-owned land opposite the former king’s residence to a new site in a northern suburb. Then the heir to the throne had to finesse a divorce settlement. Tattep Ruangprapaikitseree and other young activists want to rein in the monarchy and its military allies who have ruled Thailand since a 2014 coup. Doubts surrounding a homegrown vaccine are among the challenges facing India’s effort to vaccinate 300 million people in six months. Investigators already have Trump’s tax records, as outgoing president faces losing legal protections, Where to invest in real estate: The 10 hottest tech meccas beyond Silicon Valley, CA Notice at Collection and Privacy Notice, http://www.djindexes.com/mdsidx/html/tandc/indexestandcs.html. In August, students at Thammasat University demanded the king restore the assets to Crown Property Bureau control and place it under government oversight — a startling act of defiance in a country where a strict royal insult law has traditionally silenced criticism of the monarchy. Some protesters have also called for a boycott of Siam Commercial Bank, in which the king holds a nearly 24% stake. Thailand's King Vajiralongkorn is facing demands for limits on his powers and public oversight of an estimated $70 billion in crown wealth. Pro-democracy protesters occupy a main road in Bangkok on Thursday, demanding reforms to the government and monarchy. Two years later, in 2016, the prince ascended to the throne. In 2021, King of Thailand's net worth was estimated to be $30 Billion. Biden proposes 5-year extension of nuclear arms treaty with Russia. Seven Democratic senators have asked the Senate Ethics Committee to investigate Republican Sens. Islamic State claims responsibility for twin suicide bombings in Baghdad. Bhumibol Adulyadej net worth came from the land and equity in many companies and massive amounts of land, including 3,493 acres in Bangkok his royal family … A day earlier, some protesters heckled a motorcade carrying the queen during a rare public appearance in the capital by the ruling couple, who live in Europe. Fears of a run on deposits prompted a director of Thailand’s central bank to reassure investors that there was sufficient liquidity in the country’s financial institutions. It confirms the vast land holdings that Forbes used as the basis of its estimate (drawing on a 2005 Thai academic study). Uncertainty surrounds one of them. The military, in turn, fell in line when the king took over the Crown Property Bureau, whose enormous interests “enter into almost every significant area of Thai economic life,” Porphant Ouyyanont, a late Thai academic who was the leading authority on the bureau, wrote in a 2015 paper. ETF and Mutual Fund data provided by Morningstar, Inc. Dow Jones Terms & Conditions: http://www.djindexes.com/mdsidx/html/tandc/indexestandcs.html. He’s the longest serving monarch in the history of Thai. He has a younger brother, Tiong Thai King, who is a politician, and was a part of the Parliamentary Constituency in Sibu from 1995 to 2013. A branch of Siam Commercial Bank in Bangkok’s Chinatown is pictured in 2014. Google is threatening to pull its search engine in Australia if the government proceeds with plans to make tech giants pay for news content. Much of its holdings, especially in land, remain a mystery. Biden immediately turns to boosting federal COVID-19 response. The Thai monarch’s wealth comes from investments made by the Crown Property Bureau, according to a report in the express.co.uk According to Metro, the country’s King escaped his quarantine to attend a lavish party held in celebration of Chakri Memorial Day on 6th April. Meet the top 10 richest ruling royals in the world, ranked by their billion-dollar net worths. Editorial: Finally, a president with a COVID-19 plan. King of Thailand Net Worth: The King of Thailand, also known as Bhumibol Adulyadej and Rama IX, was the monarch of Thailand from 1946 to 2016. In July 2017, nine months after he assumed the throne, a law passed by the military-dominated parliament placed the Crown Property Bureau’s assets “under His Majesty’s discretion,” ending the previous arrangement under which the monarch could spend the bureau’s income at will but left buying and selling decisions to the board of directors. Questions over spending by an aloof monarch, whose expensive lifestyle stands in contrast to stories of his thrifty father, have emerged as Thailand’s economy reels from the COVID-19 pandemic, which followed years of tepid growth under a military-led government closely tied to the ruling family. He has a net worth of $15 billion. with an estimated net worth of US$43 billion, according to reports. It is not yet known whether the new coronavirus variant is more contagious, but it is becoming increasingly prevalent in Northern California. Thai King Maha Vajiralongkorn among world's wealthiest monarchs. © 2020 Fortune Media IP Limited. FORTUNE may receive compensation for some links to products and services on this website. Market data provided by Interactive Data. Vajiralongkorn has retained the corporate shareholdings and generally continued its conservative approach to land. Cruz and Hawley. How Much Is King of Thailand Worth? The plots include some of the most sought-after neighborhoods in the capital, along the Chao Phraya River and in the commercial districts of Silom and Sukhumvit. Its board of directors, handpicked by the king, doesn’t release financial statements. Along the Chao Phraya River, Bangkok’s skyline undergoes constant development. 1. Its landholdings — including 5½ square miles spread across high-rent districts of central Bangkok — were estimated by Porphant to be worth $32 billion in 2015, but little is leased for commercial use. Worth $40 billion and living a life of luxury in a hotel in Germany with up to 20 concubines, life should be sweet. Luckily for the prince, he had access to one of the largest royal fortunes in the world, a secretive holding company laden with stakes in blue-chip Thai companies and prime land in the heart of Bangkok. Their net worth pales in comparison to the net worths of other ruling royals across the globe. Estimates of Vajiralongkorn’s personal wealth start at $30 billion, according to Business Insider. Fauci unleashed: Doctor takes ‘liberating’ turn at center stage, After surviving nearly a year of darts and undermining comments from former President Trump, Dr. Anthony Fauci is back, ‘We know this is real’: New clinics aid COVID-19 ‘long-haulers’. Naked pictures emerge of Thai king who was filmed in tiny yellow crop top Richard Hartley-Parkinson Tuesday 16 May 2017 6:12 am Share this article via facebook Share this article via … It hasn’t published an annual report since 2016. Thai Prime Minister Prayuth Chan-ocha bows before King Maha Vajiralongkorn during the royal coronation in 2019. Biden ordering stopgap help as talks start on big aid plan, President Joe Biden plans to take executive action to provide a stopgap measure of financial relief to millions of Americans, Google’s threat to pull search engine draws testy response in Australia. King of Thailand Networth: US $ 30 billion Bhumibol Adulyadej is the current king of Thailand. Thai king is world's ... Sheikh Khalifa Bin Zayed Al-Nahyan of the United Arab Emirates came in second with a net worth of £12.35 billion, while King Abdullah Bin … India is using two different COVID-19 vaccines. The crown prince of Thailand’s third marriage unraveled in lurid headlines: The princess was stripped of her titles, her parents and brothers jailed over vague corruption allegations, her uncle purged from his senior police post. In his first full day as president, Joe Biden signals a more assertive federal role in the response to the COVID-19 pandemic. 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