According to the recent estimates, the total wealth of Saudi Arabia’s royal family has reached $1.4 trillion. This estimated wealth makes the Saudi royal family 16 times richer than the British monarchy. Also, Saudi’s are the richest families among all the monarchs and also the richest family in the world.
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The $1.4 trillion belongs to 15,000 family members of Saudi Arabia’s royal family. The House of Saud-the the ruling family of Saudi Arabia draws a large share of their wealth from vast oil reserves founded 75 years ago. House of Saud also earns humongous profits from the state-owned oil company, Saudi Aramco.
Saudi Aramco is one of the largest companies in the world by revenue, and according to accounts seen by Bloomberg News, the most profitable company in the world.
The Saudi royal family lives an enviable and opulent lifestyle. And they have severe criticism several times for extravagant spending and ultra-luxurious lifestyle. Saudi Arabia’s royal family garners the attraction of world media for their spendthrift ways. From owning private jets to palaces and yachts, Saudi Arabia’s royal family is renowned for using furniture made of gold.
The House of royals even uses a gold-plated tissue dispenser in their palaces. Foreign dignitaries and politicians are often hosted at the Al-Yamamah Palace. The sprawling Al-Yamama Palace in the Saudi capital of Riyadh is the official residence of the current Saudi monarch King Salman bin Abdulaziz. A working palace, the building also serves as the headquarters for the royal court.
Moreover, during the visit of President Barack Obama to the Erga Palace in Riyadh, the reporter spotted gold chains and gold-plated Kleenex dispensers. These places have eye-popping interiors that commoners rarely get to see.
Also, the royal family is rumored to own several lavish residences across the world including in Switzerland, London, France, and Morocco.
Other than the two above mentioned palaces in Riyadh, the Saudi royal family have constructed themselves several palaces across Saudi Arabia with a distinct interior and furniture. To name a few- Royal State Palace in Jeddah, Al-Auja Palace in Riyadh- these palaces are under direct use of King Salman bin Abdulaziz.