Flashermac Posted August 23, 2008 Report Share Posted August 23, 2008 Bangkok Post 23 Aug 2008 'Richest monarch' story flawed A report in Forbes magazine on the worldâ??s richest royals, which ranked His Majesty the King as the worldâ??s richest monarch with an estimated fortune of US$35 billion, or about 1.1 trillion baht, is inaccurate and inconsistent, according to the Crown Property Bureau. The Foreign Ministry yesterday released a statement saying the report published by Forbes on Aug 20, which ranked His Majesty as the worldâ??s wealthiest monarch, was incorrect. The ministry quoted the Crown Property Bureau as saying the report was inaccurate and inconsistent. While the report states that some items are not considered to belong to the King and as such were not counted in the monarchâ??s net worth, Forbes included land and other assets belonging to the Crown Property Bureau, which is not part of His Majestyâ??s personal net worth. The Crown Property Bureau also stated it leases most of its land at low prices to state agencies, nongovernmental organisations, for community housing and for shophouses. Only about 7% of its land is leased at commercial prices. The Foreign Ministry added that the reportâ??s reference to His Majesty the King and the 2006 military coup was also incorrect. The King had no role in the military intervention that took place in September 2006. As the head of state, according to the constitution, royal assent is required for important matters of state. The Kingâ??s royal assent by signature to the order appointing the chairman of the Council for Democratic Reform was a pro forma exercise of functions assigned to a constitutional monarch. Forbes said in its report that the Crown Property Bureau granted unprecedented access to its assets this year, revealing vast landholdings, including 3,493 acres, or about 8,732 rai, in Bangkok. Forbes called it a good year for monarchs, investment-wise. "As a group, the worldâ??s 15 richest royals have increased their total wealth to $131 billion, up from $95 billion last year," it said. With oil prices soaring, monarchs from the Middle East and Asia dominate the list. Sheik Khalifa, 60, the head of the United Arab Emirates, was estimated to be worth $23 billion, on the back of Abu Dhabiâ??s huge petroleum reserves. In third place was the sovereign of the worldâ??s biggest oil exporter, Saudi Arabia. King Abdullah bin Abdul Aziz, 84, who inherited the Al-Saud family throne in 2005, has $21 billion. The previous king of kings, wealthwise, Sultan Haji Hassanal Bolkiah of Brunei, fell to fourth with $20 billion. Fifth was Sheikh Mohammed bin Rashid of Dubai, with $18 billion. One of two Europeans on the list, Prince Hans-Adam II of Liechtenstein, ranked six on the list with $5 billion. Qatarâ??s Sheikh Hamad bin Khalifa Al Thani came seventh, with $2 billion. Eighth was King Mohammed VI of Morocco, his $1.5 billion fortune based on phosphate mining, agriculture and other investments. Number nine was Prince Albert II of Monaco, 50, his diverse fortune in the southern European principality put at $1.4 billion. Link to comment Share on other sites More sharing options...
Flashermac Posted August 23, 2008 Report Share Posted August 23, 2008 Also of interest: The frozen accounts of the Shinawatras August 15, 2008 The totals in the Shinawatra accounts left in Thailand have been spoken of often, but it is interesting to contemplate the mind-boggling amounts broken down by various banks. The 'major' accounts are: - 18,100,000,000 baht at Bangkok Bank - 2,100,000,000 baht at the Bank of Ayudhya - 39,600,000,000 baht at Siam Commercial Bank - 1,400,000,000 baht at Thanachart Bank - 500,000,000 baht at the Bank for Agriculture and Agricultural Cooperatives - 15,700,000,000 baht at the Government Savings Bank - 10,000,000,000 baht at the Islamic Bank of Thailand - 2,700,000,000 baht at the Securities and Land Depository Centre (Source TNA/MCOT) Link to comment Share on other sites More sharing options...
TroyinEwa/Perv Posted August 23, 2008 Author Report Share Posted August 23, 2008 bkktraveler.......you've asked me that twice now. First time I thought you were joking and it was kind funny relative to my other thread. Second time now either you're serious or you actually know and want me to guess. Either way, I don't know the answer. And I will bet my house on it that McCain doesn't know either. FM...looking at those totals, why even keep a miniscule 500 mil in the Agriculture Bank. Peanuts compared to the other accounts. Must be costing him money just to keep the account active. :evil: Link to comment Share on other sites More sharing options...
khunsanuk Posted August 23, 2008 Report Share Posted August 23, 2008 Hi, Wow, that's 90.1 billion Baht combined. That's a LOT of money. Sanuk! Link to comment Share on other sites More sharing options...
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