Wednesday, August 27, 2008

KING-SIZE LOOT

"With a fortune estimated at 35 billion dollars, Thailand's King Bhumibol Adulyadej is the world's richest royal sovereign and oil-rich Sheikh Khalifa Bin Zayed Al Nahyan of Abu Dhabi is far back at No. 2, Forbes magazine reported Thursday. King Bhumibol, 80 and, at 62 years on the throne the world's longest-serving head of state, pushed to the top of the richest royals list by virtue a greater transparency surrounding his fortune, Forbes said. It said that the Crown Property Bureau, which manages most of his family's wealth, "granted unprecedented access this year, revealing vast landholdings, including 3,493 acres in Bangkok." Forbes called it a good year for monarchies, investment-wise. "As a group, the world's 15 richest royals have increased their total wealth to 131 billion dollars, up from 95 billion last year," Forbes said on its website." (Yahoo News, 21 August) RD

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