Saudi Royal Family Net Worth 2024

The Saudi Royal Family is the ruling royal family in Saudi Arabia. The family is made up of the descendants of Muhammad bin Saud who was the founder of the First Saudi State together with his brothers, but the ruling faction of the family is led by IBN Saud descendants. The family has estimated members totaling to 15,000, but most of the power and wealth is possessed by a group of 2,000 family members.

The family was founded in 1720 by Saud 1, who later died in 1725. The Saudi Royal Family, which is also referred to as The House of Saud, has had three phases until now. The first phase known as Emirate of Diriyah was the first Saudi State, and it was from 1744 to 1818. The second phase was the Emirate of Nejd or the Second Saudi State that ruled from 1824 to 1891. The third phase is the current one, and it is the Third Saudi State that has been in existence from 1902 to the present.

The succession of the Saudi Arabian throne was designed to pass from one son of King Ibn Saud to another. The current ruler of Saudi Arabia King Salman replaced his brother Muqrin with his nephew Muhammad bin Nayef. Until 2006, the monarchy was hereditary by agnatic seniority, but this was changed by a royal decree that stated that future kings were to be elected by a committee of Saudi princes. The cabinet appointed by the king includes more members of the royal family.

Inception

The First Saudi State was founded in 1744, and this was achieved by the conquest of neighboring areas and also the religious zeal. During the rule of the Saudi First State, it included most of the territory of Saudi Arabia and also the conducted raids, and they got allies and followers in Iraq, Syria, Oman, and Yemen. During this time, leadership of the Al Saud was passed from father to son without any problem.

The Second Saudi State was established after the fall of Diriyah in 1818, and it was called Emirate of Nejd, whose capital was in Riyadh. This period did not see any territorial expansion, and there was less religious zeal. This stage also experienced severe internal conflicts within the royal family, and this eventually led to the downfall of the dynasty.

Evolution

In 1902 Abdul-Rahman’s son, by the name of Abdul Aziz, embarked on a task of restoring Saudi rule in Riyadh after his family was exiled to Kuwait for several years. Aziz had the support of his family members and a few followers, and he managed to capture Masmak fort and also killed the governor of that fort.  After this, he was proclaimed to be the ruler of Riyadh although he was barely in his 20s. As the leader of Riyadh, he began being called Ibn Saud. After assuming power, he spent the next three decades to re-establish his family rule.

He had rivals like the Al Rashid clan, the Ottoman Turks, and also the Sharifs of Mecca. He also had a challenge of contending for power among his family members. Ibn Saud allied himself to the British, and in 1921, he won over the Rashidis, and he became the ruler of central Arabia. By 1932 he united all his dominions into the Kingdom of Saudi Arabia. He sired several children, and he died in 1953, has created a good relationship with the United States.

Upon his death, his son Saud assumed power, but he later got into a power struggle with his brother Crown Prince Faisal following his lavish spending. Saud was forced to abdicate in favor of his brother Faisal in 1964. Faisal was assassinated by his nephew in 1975, and Khalid, who was his brother, assumed power. Many rulers have come and gone, and the current ruler is Salman Bin Abdulaziz Al Saud.

Awards & Achievements

As far as awards and nominations are concerned, the Saudi Royal Family has not won any. They have, however, managed to rule Saudi Arabia for several decades, and they have conquered several other countries while at this.

Net Worth of the Saudi Royal Family in 2024

The ruling king of Saudi Arabia King Salman Bin Abdulaziz Al Saud has a net worth of $17.0 billion so far. This goes a long way to show the magnitude of wealth that the family has. The estimated net worth of the Saudi Royal Family is $2 trillion as of November 2024. The family owns several properties, including a luxury yacht known as Kingdom 5KR.

The Saudi Royal Family is the ruling royal family of Saudi Arabia. The family was founded in 1720, and it is made up of the descendants of Muhammad bin Saud and his brothers. The family has an estimated 15,000 members, although only 2,000 family members of the family are in power and also possess wealth. The family is one of the wealthiest families in the world, with a net value of $2 trillion.