Net Worth: $18 Billion
Source of Wealth: Oil
King Abdullah bin Abdulaziz Al Saud Net Worth: Abdullah of Saudi Arabia is the third richest monarch in the world according to Forbes list. The ruler of the world’s second largest oil reserves. Saudi Arabia is the largest exporter of oil. This nation’s high income economy is largely backed by its oil industry, which accounts for more than 95 percent of its exports and 70 percent of government revenue. Oil has provided Saudi Arabia with economic prosperity and political leverage internationally.
The Kingdom of Saudi Arabia is the largest Arab state in Western Asia. It was founded by his father, King Ibn Saud in 1932. The nation has been an absolute monarchy since its inception.
Under King Abdullah leadership Saudi Arabia managed to come through the global recession in a better position than at the start due to government spending and high oil production. This policy breakdown has led to an estimated 4% growth in an incredibly tough climate. He owns the world’s second largest crude oil deposit of over 265 billion barrels, accounting for a staggering 18% of global reserves. With Saudi Arabia possessing a $727 billion GDP, he has recently invested $130 billion into unemployment funds and housing projects to counteract the increasing unemployment number in his young country.
According to Saudi experts, the Saudi Royal family’s net worth is around $1.4 trillion. More than 10,000 princes use this wealth to wield their political influence and to keep the common folk at bay.