NEW YORK: Thai King Bhumibol Adulyadej is the world's richest monarch with a personal fortune worth USD 35 billion, according to the Forbes magazine.

Forbes said that the 80-year-old Thai King's estimated net worth increased sevenfold during the past year because of the transparency of his riches which include over 3,000 acres of prime real estate land in Bangkok, a stake in a major bank and huge holdings in the Siam Cement company.

In fact, King Adulyadej, the worlds longest-reigning monarch, reached the helm of the US-based magazines list of 15 richest rulers by knocking Sultan Haji Hassanal Bolkiah of oil-rich Brunei off the top spot.

Forbes rated the personal fortune of the 62-year-old Asian Sultan -- who fell to the number four slot -- at USD 20 billion, adding that Bruneis oilfields were in the danger of drying up.

"The Sultan, who inherited the riches of an unbroken 600-year-old Muslim dynasty, has had to cut back on his country's oil production because of depleting reserves," the magazine said.

Sheikh Khalifa bin Zayed al-Nahayan of the United Arab Emirates (UAE) was ranked as the world's second-richest ruler with an estimated net worth of USD 23 billion, thanks to some of the world's oil reserves and a real estate empire which has benefited from a 100 per cent rise in property prices.

The third and the fourth spots on the Forbes list were occupied by King Abdullah of Saudi Arabia and Sheikh Mohammed bin Rashid al-Maktoum of Dubai respectively.

Interestingly, the 82-year-old British Queen has slipped one place down the global rich list to slot number 12,with an estimated net worth of 349 million pounds.

"Overall, its a good year for monarchies. As a group, the world's 15 richest royals have actually increased their total wealth to USD 131 billion, up from USD 95 billion last year," the Forbes said.
Source : MMD English