Worth More Than Jeff Bezos And Warren Buffet Combined, The Abu Dhabi Royals Have Toppled Walmart’s Waltons As The World’s Richest Family For 2023
The crown for the world’s richest dynasty has shifted from a business family to a kaffiyeh-wearing royal family, marking a surprising first. Introducing the House of Nahyan, not only as the richest clan in the Middle East but now as the wealthiest family worldwide. The affluent Al-Nahyans have joined Bloomberg’s annual ranking of family fortunes and have topped it with their staggering $305 billion fortune. They have dethroned the Waltons of Walmart Inc. by a cool $45 billion, a feat as impressive as their seemingly bottomless wealth. The top 5 positions include another Middle Eastern entrant, the Al Thanis, the royal family of Qatar, at number five. According to Bloomberg, the world’s richest families have become $1.5 trillion wealthier since the last ranking.
The Middle East is not the only region contributing to this enthusiastic multiplication of wealth. The luxury brand Hermès, a family-owned and run empire, emerged as one of the biggest gainers, with the sixth generation adding a cool $56 billion to become the world’s third-richest family, showcasing sheer authenticity and an aversion to fads. Returning to the Al Nahyans, their success is attributed to timely investments in a variety of businesses, from Rihanna’s lingerie line Savage X Fenty to Elon Musk’s SpaceX. These astute allocations of resources have only propelled their wealth to new heights.
Sheikh Mohammed bin Zayed Al Nahyan, the country’s president, along with other family members who play imperative roles in the government and the private sector, have been instrumental in this growth. For instance, National Security Adviser Sheikh Tahnoon, aka the black-belt Sheikh overseeing assets from the family’s personal and sovereign funds worth almost $1.5 trillion, has led to International Holding Co.’s stock surging by a whopping 7,000% over the past four years.
With such significant successes, it’s hardly shocking to see Walmart Inc., after sixty years in the business, losing its numero uno position. Still, one must give the Waltons credit for reigning supreme for four years in a row on the list of the world’s richest families, with a net worth of $224.5 billion.
Unparalleled Affluence of Abu Dhabi’s Al Nahyans:
How does one family manage to amass an unheard-of $305 billion fortune? To begin with, their lavish lifestyle starts with their homes, which are not merely palatial abodes but actual palaces. The Qaṣr Al-Waṭan or the presidential palace, the ruler’s $490 million residence, is triple the size of the Pentagon. The family members also have a penchant for humongous megayachts, boasting a fleet of the world’s most luxurious vessels.
From the $600 million Azzam to the Blue superyacht, owned by Sheikh Mansour bin Zayed Al Nahyan and valued at $600 million, and the Topaz, now known as A+, worth $527 million, these vessels feature in the top 10 largest yachts globally. These vessels cost a small fortune just to refuel with the Blue superyacht lapping up $640,000 of fuel to tank up.
Another royal, Sheikh Hamad bin Hamdan al Nahyan, with a net worth of $20 billion, owns over 700 cars. This incredible collection is housed across four museums in the UAE and Morocco, as even palaces can’t accommodate them. Not just fancy cars, the 52-year-old Man City owner Sheikh Mansour, with a $22 billion fortune, holds stakes in automobile companies like Ferrari and Daimler AG. The billionaire family’s Presidential fleet includes a $450 million Boeing 747 and a $180 million Boeing 787, offering luxurious travel for the entire royal family.
The ultra-wealthy Waltons:
When Sam and Helen Walton opened a five-and-dime store in Arkansas in 1950, little did they know their family would become the richest in America. With a staggering combined net worth of approximately $259.7 billion, they have topped charts globally as the wealthiest family, except for this year, when the House of Nahyan surpassed them by several billions. The Walmart heirs include Rob, Jim, Alice, John’s wife Christy, and their son Lukas, among others.
The inherently private clan owns several sprawling mansions in areas like Wyoming, Arkansas, and New York City. Alice Walton, with a net worth of $60 billion, shuttles between her opulent homes in Texas and New York, where she owns a luxury condo (and previously owned two ranches in Texas spread across 5,000 acres).
Another heir, Rob Walton, with an estimated $223 million vintage car collection, is something extraordinary and extremely secretive. According to the YouTube channel 9 Figure Life, his collection includes 12 antique Ferraris, 6 vintage Porsches, and 2 Maseratis. The gem of his collection is a 1963 Corvette Grand Sport Roadster.
Alice Walton’s private art collection rivals her cousin’s automobile collection, featuring greats like Andy Warhol and a $45 million Georgia O’Keeffe. One of the world’s richest women, she opened her own $800 million museum displaying her life’s collection of 440 artworks, dubbed Crystal Bridges, on a 120-acre property.
Her sister, Nancy Walton Laurie, sails around in the spectacular $350 million Kaos superyacht, a symbol of wealth. This luxury vessel grabbed headlines this year not because of its grandeur (despite being an oasis of luxury with Crystal Caviar insets, silk carpets, Iranian white onyx, and Golden Spider stone, and featuring 16 guest cabins along with several amenities) but due to two acts of vandalism by eco-activists.
Note – As of writing this article, according to Forbes, the net worth of Jeff Bezos and Warren Buffet is $169.7 billion and $117.8 billion, respectively.
Credits: Neha Tandon Sharma / Luxurylaunches
