Saudi royals' net worth quadruple Musk, Gates combined

Meanwhile, the net worth of Tesla founder Elon Musk is estimated at $236.1 billion, and Microsoft founder Bill Gates at $119.7 billion as of Dec. 24, 2023, according to Forbes.

This makes the House of Saud not just one of the richest but also one of the most powerful royal families in the world, as they wield significant influence on the future of the Arabian Peninsula and the global energy industry, Business Day reported.

Despite having over 15,000 members, most of the royal family’s wealth is controlled by a select group of only 2,000 relatives, which make up the house’s ruling faction.

This faction stems from descendants of Abdulaziz bin Abdul Rahman, who founded the Kingdom of Saudi Arabia in 1932. King Salman bin Abdulaziz Al Saud, who ascended the throne in 2015, is the current head of the royal family, with his heir being Crown Prince Mohammed Bin Salman.