The Saudi Royal Family is the ruling family of Saudi Arabia’s kingdom and is worth over $1 trillion, making them the wealthiest royal family on earth.
The Saudi royal family’s 334-year history
The first Saudi state was established by the grand patriarch of the House of Saud in the year 1687. His name was Muhammad Ibn Saud and he was the ruler of Diriyah, known as Saudi Arabia today. His kingdom flourished under the spiritual guidance of Muhammad bin Abdul Wahhab the founder of a radical style of Islam known as Wahhabism today.
Muhammad Ibn Saud is the Grand patron of the House of Saud and ruler of the First Saudi State, although the family tree on the official website of the House of Saud begins from Abdulaziz ibn Saud, the first King of Saudi Arabia in the third Saudi State.
The house of Saud consists of a whopping 15,000 members and these members collectively share the family fortune although only about 2,000 of them make up the ruling elites of the family.
The main source of income
The Government of Saudi Arabia owns a staggering 98.2% of the country’s largest oil company, Saudi Aramco. The oil giant controls the vast amount of oil reserves found in the Arabian Peninsula and is currently valued at $2trn dollars making it the most valuable company in the world. It is the main source of income for the House of Saud.
The Crown Prince of Saudi Arabia is Mohammed bin Salman Al Saud, the controversial and flamboyant royal whose image took a dent when he was accused of having a hand in the murder of prominent Saudi Arabian journalist, Jamal Khashoggi.
The Crown Prince is the son of the current King, Salman bin Abdulaziz Al Saud.
In an interview on his lavish spending habits on an American TV Show, he replied:
“As far as my private expenses, I’m a rich person and not a poor person. I’m not Gandhi or [Nelson] Mandela. I’m a member of the ruling family that existed for hundreds of years before the founding of Saudi Arabia.”
What you should know
The Kingdom of Saudi Arabia has a population of about 35 million people.
The Saudi Royal Family is the richest royal family in the world by a large margin.
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