• Saturday, February 24, 2024
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Meet the world’s richest ‘Al Nahyan’ royal family, owners of $475 million palace, 8 jets,700 cars, investments in SpaceX, Fenty

Meet the world’s richest ‘Al Nahyan’ royal family, owners of $475 million palace, 8 jets,700 cars, investments in SpaceX, Fenty

In 2023, the Al Nahyan royal family of the Emirate of Abu Dhabi,Dubai achieved the status of the world’s wealthiest family, with a massive net worth of $305 billion, according to Bloomberg reports.

The family, led by UAE President Sheikh Mohamed bin Zayed Al Nahyan, known as MBZ, possesses opulent assets, including a presidential palace valued at $475 million, eight private jets, and ownership of a prominent football club, as highlighted in a GQ report.

The family lives in the lavish Qasr Al-Watan presidential palace located in Abu Dhabi, which stands as the largest among the various palaces owned by the family in the UAE. Encompassing almost 94 acres, this grand-domed palace features a chandelier adorned with 350,000 crystals and showcases a collection of valuable historical artifacts.

Sheikh Mohamed bin Zayed Al Nahyan oversees this extensive family, which consists of 18 brothers, 11 sisters, nine children, and 18 grandchildren within the Emirati royal lineage.

The family’s fortune includes an impressive six percent stake in the world’s oil reserves, the Manchester City football club, and investments in numerous renowned companies. Investments in singer Rihanna’s beauty brand, Fenty, and Elon Musk’s Space X.

The younger brother of the president, Sheikh Hamad bin Hamdan al Nahyan, possesses an extraordinary collection of over 700 ultra-luxurious cars, including the world’s largest SUV. Among his impressive assortment are five Bugatti Veyrons, a Lamborghini Reventon, a Mercedes-Benz CLK GTR, a Ferrari 599XX, and a McLaren MC12.

Another sibling, Tahnoun bin Zayed Al Nahyan, oversees the family’s primary investment firm, which has experienced an astronomical growth of nearly 28,000 percent in the last five years. With a current value of $235 billion, the company holds interests in agriculture, energy, entertainment, and maritime businesses, contributing to employment opportunities for numerous individuals.

In addition to their holdings in the UAE, the Dubai royal family possesses opulent properties worldwide, including in cities such as Paris and London. The former head of the family was even referred to as the “landlord of London” due to the extensive property portfolio in some of the UK’s most affluent areas.

According to a 2015 report from the New Yorker, the assets owned by the Dubai royal family are on par with those of the British royal family.

In 2008, the Abu Dhabi United Group, led by MBZ, acquired the UK football team Manchester City for $255 million. Additionally, the company holds an 81 percent stake in the City Football Group, overseeing the management of football clubs such as Manchester City, Mumbai City, Melbourne City, and New York City.

This shows the Al Nahyan royal family’s unparalleled wealth, lavish lifestyle, and varied investments, solidifying their position as the wealthiest family in the world.