The current net worth of the Saudi Royal Family has been estimated as somewhere about the $1.4 trillion mark, which makes them one of, if not, the wealthiest family in the world. The oil rich, and often controversial nation, is diversifying its wealth through the sovereign investment fund, the PIF(Public Investment Fund), chaired by the Crown Prince Mohammed bin Salman, with recent investments in Lucid Motors and Uber gaining international attention. The Royal Family’s biggest asset, outside of their natural resources and property, is estimated to be SABIC, the petrochemical company valued at $55.1 billion.
Saudi Arabia’s sovereign wealth fund Public Investment Fund (PIF) also announced recently that it will join forces with the Russian sovereign wealth fund RDIF as a new partner in the joint Russia-China Invesment Fund, in a move to further consolidate relations between the three nations. The agreement involved the Saudi Royal Family contributing $500 million to the investment fund, raising the RDIF’s total capital under management to $2.5 billion.
The Saudi Royal Family, headed by King Salman and his son, the Crown Prince, Mohammed bin Salman, have recently gained negative press through the murder of the pro-democracy Saudi journalist Jamal Khashoggi – this has temporarily hurt their business relations with many companies and high ranking nations pulling out of the Future Investment Initiative conference in Riyadh. The incident is unlikely to harm the Saudi Royals in the long term, the oil rich nation uses its natural resources as leverage in maintaining key strategic relationships with the US and European nations.
The richest individual member of the Saudi Royal Family is Alwaleed bin Talal Al Saud, who has an estimated worth of $17 Billion USD, and made his fortune in property, construction, banking and tech, and currently owns a considerable stake of the social media giant Twitter.
The Saudi Royal Family are also famously generous with their vast fortune, running a number of philanthropic foundations including the King Faisal Foundation, an organization dedicated to humanitarian and educational missions. Also Prince Alwaleed’s foundation, Alwaleed Philanthropies, which is dedicated to combating poverty, empowering women and developing communities in some of the most economically desperate parts of the world.