According to SCMP , the Kuwaiti royal family owned a fortune of up to $90 billion in 1991. However, as their stocks and real estate increased, today, the figure of $90 billion has increased to 360. billion USD. This makes them the 2nd richest family in the world, after the Saud family of Saudi Arabia.
If you do the math to add up the total net worth of Elon Musk and Bill Gates, the Kuwaiti royal family’s wealth is larger than these two billionaires ($360 billion is greater than $ 333 billion). Accordingly, with Forbes’ estimates, the net worth of Elon Musk and Bill Gates is $ 218 billion and $ 115 billion respectively.
This royal family is led by Sheikh Nawaf Al-Ahmad Al-Sabah, who succeeds to the throne in 2020 after the death of Sheikh Sabah IV Ahmad Al-Jaber Al-Sabah.
The Kuwaiti royal family consists of 1,000 members. The writer of Luxury Launches likens the lives of these members of the royal family to paradise. The chiefs usually live in the Bayan palace, which has an area of up to 1,399,500m2, twice as large as Disneyland.
According to the description, this palace consists of 6 complexes with 18 buildings, including a hall with a capacity of up to 1000 people. This palace also has a 2.6km long tunnel.
Not only Bayan, Kuwait also owns a series of palaces. All have impressive architecture and are located in prime locations.
In addition to the royal family palace, the royal family also owns a car collection enough to open a museum. Seamless cars are not only expensive but also full of rare lines. The collection includes vintage limousines, Minervas from 1904 and 1924, custom Porsche 911 turbo S, Ferrari F40, Rolls Royce and Porsche Carrera of the 1960s. All of these vehicles are regularly serviced to ensure can start the engine normally.
Not only cars, the Kuwaiti royal family also has a fleet of 2 Boeings and 5 Airbuss. These planes typically cost between $400-500 million and are equipped with state-of-the-art amenities.
In addition to cars and airplanes, the Kuwaiti royal real estate portfolio is so large that it could form a small country. A typical example is that they are investing to implement a project called the coastal city of Sabah Al Ahmad.
This has cost billions of dollars as construction workers have to dig large canals to bring the sea inland. It is expected that when fully completed in the near future, 250,000 people will come to live here. The key point of this super project is the boat parking and shopping center exclusively for the elite. According to the Daily Mail, the total amount of asphalt to cover the entire land area in this coastal city can fill 703 football fields.
The women of the royal family of Kuwait have a luxurious life no less than the men. Looking at how some of these royal celebrities spend their money can give you a better idea of their lavish lives.
Accordingly, Princess Maryam Al-Sabah, a law graduate from King’s College in London, made headlines when she spent $ 20 million to own a diamond and sapphire necklace. Her life always has maids and housekeepers around to meet all her needs and escort in her extremely expensive shopping trips.
Possessing a huge fortune, Sheikha Paula Mubarak Al Sabah, a member of the Kuwaiti royal family has a collection of expensive artworks. It was so massive that she could open a whole gallery. “I enjoy showing Middle Eastern-style works at my house in New York and Western art in Kuwait,” said Sheikha.
Sharing more, she said that at the beginning, she did not buy the works of art as an investment. However, until owning works of art, it is difficult for anyone to have. That must be a good investment. Therefore, before buying a work of art, she often does a lot of research. Because she didn’t want to waste the family’s money.
In addition to investment, the royal family of Kuwait regularly has charitable activities. They have housed millions of refugees and supported millions of people in Syria with food, clean water, and medical care every month. The royal philanthropy extends beyond the Middle East to countries such as Chad, Ethiopia, Kenya, Nigeria, Somalia and Sudan. For his activities, Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah, the leader of Kuwait was awarded the title of “Humanitarian Leader” by the United Nations Secretary-General.
In addition, the Kuwaiti royal family also established funds to promote the country’s science, technology and innovation, towards a sustainable future.
Currently, the Kuwaiti royal family controls the US$803 billion Kuwait Investment Authority. The fund has more than a quarter of its investments in the United States, with seemingly no areas untapped, be it seaports, airports or worldwide electricity distribution.
Source: Luxury Launch
