According to a Forbes magazine list, 80-year-old King Bhumibol Adulyadej of Thailand, the world's longest-reigning monarch, is the richest royal in the world with an estimated fortune of 35 billion dollars. Read more...
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photo source: news.yahoo.com
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2 comments:
A better article about Thai King’s wealth here:
http://www.forbes.com/magazines/global/2008/0901/032.html
The $35 billion is misleading, since, as stated clearly in the new Forbes Article, the thousands of acres of prime real estate holdings in Bangkok are worth $31 billion.
Research for 2005, shows the total income of Crown Property Bureau (CPB) at $280 million (adjusted for current exchange rate). In that total, $200 million was from company dividends, and $80 million from the real estate. This is consistent with the recent Bangkokpost citation that most of CPB’s land is leased at low-priced, below market rate to state agencies, NGOs, and low-income tenants. It was also stated that only 7% of the land is leased at commercial rates. Paul Handley makes the same comment in the new Forbes Article that the CPB is not charging market rates, and that “raising them would cause serious repercussions, especially for its thousands of low-income tenants.”
How much of the annual income generated by the CPB goes to charity is unknown, but I am sure a good share of it does go to charity.
So, don’t treat the $35 billion figure as if it was the King’s disposable income. It is not. The greater bulk, ie. $31 billion, is Bangkok real estate, and most of the rest is in share holdings which are invested in the long-term.
The new Forbes Article makes the point that the CPB’s goal is: “to aid the country’s development by investing in key industries and providing below-market-rate housing for low-income citizens.”
I think the King is using his assets wisely and for benefit of Thailand.
ey mr/ms anonymous,
your input is greatly appreciated! you're always welcome here...
have fun!
octinomos
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