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With an estimated net worth of over $1.4 trillion, the family’s wealth surpasses even that of the British royal family. This vast fortune is primarily derived from oil revenues as well as investments in various industries. In this article, we will take a comprehensive look at the wealth of the Saudi royal family, its sources, investments, and extravagant spending.
Origins of Wealth
Since the discovery of oil in the 1930s, the wealth of the Saudi royal family has been anchored in oil revenues. This liquid gold has fueled their fortunes, channelled primarily through Saudi Aramco, the world’s largest state-controlled oil company. These oil revenues have funded not only opulence but also government initiatives.
Beyond oil, diversification has been key. Investments span real estate, technology, and finance, with the Kingdom Holding Company standing out. Its portfolio includes names such as Citigroup, News Corporation, and Twitter. Luxury hotels and major infrastructure projects also contribute to the family’s influence and financial standing.
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Palaces and Properties
The wealth of the Saudi royal family is evident in its extensive collection of palaces and estates around the world. One of the most notable palaces is the Al Yamamah Palace in Riyadh, which serves as the official residence and office of the King of Saudi Arabia. Spread over 4 million square feet, the palace features Italian marble floors, intricately carved ceilings, and wall panels. It boasts impressive amenities such as a movie theatre, bowling alley, swimming pools, and a mosque. The family also owns properties such as Al-Awja Palace on the outskirts of Riyadh and Erga Palace in central Riyadh, which are used for meetings and government events.
Art Collection
The Saudi Royal Family has a deep appreciation for art and has amassed a remarkable collection over the years. From traditional Islamic artwork to contemporary masterpieces, their collection includes works by renowned artists such as Leonardo da Vinci, Pablo Picasso, Jeff Koons, and Takashi Murakami. In particular, Crown Prince Mohammed bin Salman made headlines when he acquired Leonardo da Vinci’s “Salvator Mundi” for a staggering $450 million, outbidding Qatari rivals. The family’s passion for art is evident in the palaces where these masterpieces are displayed.
Yachts and Private Jets
In addition to their palaces and art collection, the Saudi royal family indulges in a luxurious lifestyle that includes owning yachts and private jets. Crown Prince Mohammed bin Salman owns the $400 million superyacht “Serene.” This magnificent vessel features an internal seawater pool, helipads, game rooms, and even an underwater viewing room. Another notable yacht is the Prince Abdulaziz, a 482-foot vessel that can accommodate 64 guests in its opulent staterooms. The family also owns a fleet of private jets, including a customised Boeing 747-400 that has been transformed into a flying mansion with lavish furnishings and gold-plated fixtures.
Luxury Cars and Exquisite Accessories
The Saudi royal family’s penchant for luxury extends to its collection of cars and accessories. Members of the family own a fleet of extravagant vehicles, including Rolls-Royces, Lamborghinis, Bentleys, and Mercedes Jeeps. Most notably, Saudi billionaire Turki Bin Abdullah has a $22 million collection of cars, including a gold-plated Lamborghini Aventador SV and other opulent vehicles. Their love of gold can be seen in the way they accessorise their cars with gold-plated accents and custom features.
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