King Maha Vajiralongkorn of Thailand has inherited the vast wealth of Thailand’s royal family, net-worthed at US $30 to 60 billion. The monarch will become one of the world’s richest after assuming the throne following the death of his father, King Bhumibol Adulyadej, in late 2016.

In 2011, Forbes’ ranking of the world’s most wealthy, estimated King Bhumibol’s fortune to value at more than US $30 billion, including his holdings of the Crowned Property Bureau. The actual sum, remains undisclosed protected by a strict set of lese majeste law enacted in the Thai Monarchy.

Vajiralongkorn’s father, who had reigned for seven decades, hired professional managers and trusted consultants to handle the family’s vast profile real estate and investment assets, known to be the existing Office of the Crowned Property Bureau. The holdings were transferred as private assets to the new King and the King confirmed that the assets would be treated the same and would “be subject to the same duties and taxation as would asset belonging to any other citizen.”

The Crown Property Bureau’s most notable assets are real estate in Bangkok, the Siam Commercial Bank, valued at US $84 billion and the Siam Cement Group, Thailand’s major building materials conglomerate which is valued at US $16 billion. In March, it was estimated that the monarch acquired nearly US $150 million stake in Siam Cement Group and shares worth over US $500 million in Siam Commercial Bank from the stock exchange market.

It was last year that the Thai Junta amended a royal property law since 69 years ago, to allow King Vajiralongkorn to take full control over the royal assets and “be managed under the His Majesty’s own discretion.”

Source: 香港01, South China Morning Post