As a Thai citizen, I have always been curious about the wealth of Thailand's royal family. An institution that is held in such high esteem in our society, it's only natural to wonder how much money they have and where it all comes from. In this article, I dive into the subject and share with you the shocking net worth of Thailand's royal family.
First things first, let's clear out the misconceptions. The Thai monarchy is often portrayed in the media as a lavish and extravagant dynasty living off taxpayers' money. However, this couldn't be further from the truth. The monarchy in Thailand constitutes a sufficient portion of the country's GDP and is widely recognized for its contributions to the economy.
In fact, every year, the Thai government allocates a budget to the monarchy, but instead of using it for their personal expenses, the Royal Family puts it to good use, supporting charity events and social programs, among other things. This has helped the monarchy to earn the love and respect of the vast majority of the Thai people, who consider the Royal Family to be an integral part of Thai society. Nonetheless, despite this positive portrayal, there is still much curiosity about the actual net worth of the family members.
Thailand's Royal Family
Thailand's royal family has been a topic of both fascination and controversy throughout the country's history. With a long line of kings, queens, princes, and princesses, the royal family has been a central figure in Thai culture for centuries. However, in recent years, the family's immense wealth has come under scrutiny, with many questioning how they accumulate and use their money.
How They Make Their Money
The Crown Property Bureau (CPB) is the primary source of the royal family's income. The bureau, established in 1936, manages the family's vast real estate holdings, including commercial properties, land, and agricultural estates. The CPB also invests in businesses, securities, and financial institutions.
In 2017, the Thai government transferred ownership of around $40 billion worth of assets to the CPB, effectively increasing the bureau's net worth by five times its previous value. This transfer made the CPB one of the largest real estate owners in the world.
Estimated Net Worth
Despite the family's extensive wealth, there is no clear estimate of their overall net worth. The Thai government keeps the royal family's finances confidential, making it challenging to determine exactly how much they own. However, according to Forbes, the Crown Prince Maha Vajiralongkorn, is worth around $30 billion, making him one of the wealthiest royals in the world.
Although it's difficult to determine the family's net worth accurately, some estimate it to be well above $70 billion. This enormous sum of wealth places the family among the world's richest, surpassing well-known names like the Rothschilds, the Rockefellers, and the British Royal family.
Controversies Surrounding Their Wealth
The royal family's wealth has come under intense scrutiny in recent years for how they use their money and the opacity surrounding their finances. Many Thais have criticized the family for using their wealth to shield themselves from criticism and scrutiny since any criticism of the royal family is a crime in Thailand punishable by up to 15 years in prison.
Moreover, many Thais note that the wealth of the royal family contrasts starkly with the country's poverty and inequality. According to the World Bank, more than 14% of Thais live below the poverty line. This persistent poverty has led many to question why the royal family does not use their wealth to improve the lives of the country's poorest citizens.
Public Perception
The public perception of the Thai royal family among Thais is complex and often opaque due to strict lèse majesté laws. Any criticism of the monarchy may lead to prosecution, making it difficult for Thais to express their opinions openly.
However, there are indications that many Thais are becoming increasingly disillusioned with the wealth and power of the royal family. In recent years, protests against the monarchy have erupted across the country, with demands for more transparency and accountability from the royal family.
Conclusion
Thailand's royal family's immense wealth is a source of fascination and controversy in the country and around the world. While the family's exact net worth is unknown, they are undoubtedly among the world's wealthiest individuals. However, their wealth has also been criticized for its opacity, the country's poverty, and the lack of transparency. As the country moves forward, the royal family's finances will likely remain a contentious issue, and the public will continue to call for greater transparency and accountability.
