As of November 2024, Elon Musk, the world’s richest individual, boasts an estimated fortune of $313 billion, according to the Bloomberg Billionaires Index. Meanwhile, Bill Gates, the founder of Microsoft, comes in at $105 billion, as reported by Forbes. Yet, when compared to the wealth of the Saudi royal family, these staggering numbers seem modest.
The ruling family of Saudi Arabia, known as the House of Saud, holds a collective wealth of $1.4 trillion, far surpassing the wealth of Musk, Gates, and the combined fortunes of other global billionaires by at least four times. This immense wealth is primarily fueled by Saudi Arabia’s vast oil reserves, which continue to power the royal family’s luxurious lifestyle.
The wealth of the House of Saud is not just about the money in their coffers; it extends to their extravagant assets, including grand palaces, private yachts, and a collection of priceless artworks. Among the highlights of their holdings are France’s $300 million Château Louis XIV, Leonardo da Vinci’s famed Salvator Mundi painting valued at $450 million, and a $500 million yacht. This luxurious lifestyle is made possible by the country’s oil wealth, which remains one of the most significant sources of income for the royal family.
The vast fortune of the Saudi royals also dwarfs that of the British monarchy, whose net worth stands at $88 billion, according to Forbes. In comparison, King Charles and his family possess much more modest assets, including properties like the Duchies of Cornwall and Lancaster and the Savoy Hotel. King Charles’ fortune is estimated at $772 million, placing him 258th in the UK’s wealth rankings.
The Saudi royal family comprises about 15,000 members, though most of the wealth is concentrated among approximately 2,000 of its closest relatives. King Salman bin Abdulaziz Al Saud, the head of the family since 2015, is the current monarch. His son, Mohammed bin Salman (MBS), serves as the Crown Prince and is widely regarded as the “de facto ruler” of Saudi Arabia. His leadership has ushered in sweeping reforms, including efforts to modernize the kingdom and increase its economic diversification beyond oil.
This level of wealth is not a recent phenomenon. Since the collapse of the Ottoman Empire after World War I, many Middle Eastern royal families, including those from Qatar, UAE, Kuwait, and Bahrain, have amassed substantial fortunes. Their wealth, built on vast energy reserves and strategic investments, shapes the region’s geopolitical and economic landscape.
In summary, the House of Saud’s wealth, primarily derived from its oil assets, is not just a financial figure but a symbol of the family’s immense power and influence globally. Their holdings in real estate, art, and luxury goods reflect the family’s long-standing position as one of the richest dynasties in history.