The ruling royal family of Saudi Arabia also known as the (House of Saud), is reportedly worth $1.4 trillion (£1.1trillion), which is believed to be worth four times more than the combined net worth of two of the biggest billionaires in the world – Elon Musk and Bill Gates.
While Forbes estimates Musk, the Tesla founder and X owner is currently worth $251.3 billion (£191billion), Gates, the founder of Microsoft turned philanthropist, is reportedly worth $119.6 billion (£93billion).
The Saud family, is one of the most powerful and affluent dynasties in the world. The House of Saud, whose estimated net wealth is $1.4 trillion (£1.1 trillion), has had a significant impact on both the future of the Arabian Peninsula and the world’s energy environment.
The Saudi Royal family includes descendants of Muhammad bin Saud, the founder of the Emirate of Diriyah in the 18th century – also known as the First Saudi state.
This family has over 15,000 members, however, the majority of wealth is controlled by approximately 2000 relatives. The reigning faction of the family is descended from the descendants of Saudi Arabia’s modern founder, Abdulaziz bin Abdul Rahman.
King Salman bin Abdulaziz Al Saud, who ruled his country since 2015, is the current head of the family.
Mohammed bin Salman is his most renowned son and heir apparent. The Crown Prince, also known as MBS, is the current Prime Minister of Saudi Arabia and is widely regarded as the country’s de facto ruler.
MBS and King Salman rule over an absolute monarchy and autocratic regime with limited civil liberties and political rights.
The massive oil deposits discovered in the kingdom seven decades ago, during the time of King Abdulaziz ibn Saud, are thought to be the source of this family’s wealth.
While the Saudi royals keep financial data hidden, their luxurious lifestyles and large spending attract public attention.