Thailand’s King Maha Vajiralongkorn, also known as King Rama X, is the world’s richest monarch and has been on the throne for over nine years. He reportedly boasts a massive net worth estimated at £32.4 billion. According to The Financial Express, he owns 38 aircraft, 300 luxury cars, 52 boats, and precious diamonds and gemstones.
Other notable assets include an extensive land portfolio of 16,210 acres across Thailand, alongside 40,000 rental contracts nationwide. His holdings encompass several Government buildings, shopping centres, and hotels.
In 2018, King Maha Vajiralongkorn was granted full personal ownership and control over royal assets, estimated to be worth between $70 billion and $130 billion (£97bn).
This means that King Vajiralongkorn has the authority to manage and dispose of the royal assets as he chooses which was enabled by a law that was passed in 2017.
A statement from the Crown Property Bureau at the time said that this shift in control also means that the king is subject to the same duties and taxation as other citizens’ assets.
These assets included valuable real estate, substantial shares in major companies, and investments in luxury hotel chains, among other holdings.
The king reportedly owns a 23% stake in Siam Commercial Bank, the second largest bank in the country, and a 33.3% share in Siam Cement Group, the largest industrial conglomerate in Thailand.
Vajiralongkorn became the Thai king in 2016 at the age of 64, making him the oldest monarch to ascend the throne.
This came following the passing of his father, King Bhumibol Adulyadej (Rama IX), in October 2016 though Vajiralongkorn’s lavish three day coronation didn’t take place till 2019.