In a surprising twist of fate, the Al Nahyan family, also known as the Abu Dhabi royals
Have Abu Dhabi emerged as the wealthiest family in the world for the year 2023. Surpassing the combined wealth of Jeff Bezos and Warren Buffet, the Al Nahyans now hold a staggering fortune of $305 billion. This remarkable achievement has resulted in the dethroning of the Waltons, the family behind Walmart, and signifies a significant shift from business to royalty in the realm of global wealth.
The Al Nahyans’ ascent to the top of Bloomberg’s annual ranking is a testament to their unparalleled wealth, surpassing the Waltons by an astonishing $45 billion. Notably, the top 5 positions also include the Al Thanis, the royal family of Qatar, representing another Middle Eastern presence and highlighting the region’s growing prosperity. Bloomberg’s report reveals that the world’s richest families collectively experienced a $1.5 trillion increase in their wealth since the previous ranking.
The Middle Eastern wealth cannot be solely credited for this newfound dominance. Take for example the family-owned luxury brand Hermès, which has gained a staggering $56 billion and secured the third spot. Nevertheless, the success story of the Al Nahyans is characterized by their strategic investments in a wide range of businesses, from Rihanna’s Savage X Fenty lingerie line to Elon Musk’s SpaceX, which have propelled their net worth to unparalleled heights.
Sheikh Mohammed bin Zayed Al Nahyan, the president of the country, and Sheikh Tahnoon, the National Security Adviser, have played a crucial role in driving this growth. With assets worth nearly $1.5 trillion under their supervision, they have been instrumental in the remarkable 7,000% surge in stock value of the International Holding Co. over the last four years.
The opulence of the Al Nahyans is clearly displayed through their extravagant way of life, which includes residing in actual palaces such as the Qaṣr Al-Waṭan worth $490 million. Their assortment of megayachts, such as the Azzam valued at $600 million and the Blue superyacht, further adds to their unparalleled affluence.
The wealth of the family is further highlighted by their vast assortment of automobiles, which is owned by Sheikh Hamad bin Hamdan al Nahyan and Sheikh Mansour bin Zayed Al Nahyan, as well as their impressive array of opulent private jets. Among these aircraft is a remarkable Boeing 747 valued at a staggering $450 million.
However, the Waltons, who have maintained their position as the wealthiest family globally for four consecutive years, possess a collective net worth of around $259.7 billion. This highly discreet dynasty, beneficiaries of the Walmart fortune, possess expansive mansions in different areas, exemplifying their vast riches through Alice Walton’s personal art collection and Nancy Walton Laurie’s $350 million Kaos superyacht.
With an immense fortune amassed from their ownership of approximately six percent of the world’s oil reserves, the family’s holdings are extensive and diverse. They range from a football empire, which includes Manchester City, to strategic investments in major companies like Rihanna’s beauty brand Fenty and Elon Musk‘s SpaceX. The family, comprising of 18 brothers, 11 sisters, nine children, and 18 grandchildren, resides in the grand Qasr Al-Watan presidential palace in Abu Dhabi. This magnificent palace covers an impressive area of nearly 94 acres and features a stunning chandelier adorned with 350,000 crystals.
The vastness of their fortune is further emphasized by their extensive collection of cars, which is overseen by Sheikh Hamad bin Hamdan al Nahyan. This collection boasts over 700 cars, including the world’s largest SUV and prestigious vehicles such as Bugatti Veyrons, a Lamborghini Reventon, a Mercedes-Benz CLK GTR, a Ferrari 599XX, and a McLaren MC12. Their opulent lifestyle extends globally, with ownership of luxurious properties in Paris and London.
Beyond their extravagant way of life, the family’s influence extends far and wide. Tahnoun bin Zayed Al Nahyan, the president’s brother, is responsible for overseeing the family’s primary investment company. In the past five years alone, this company has experienced an astonishing surge of nearly 28,000 percent. Currently valued at $235 billion, the company holds interests in agriculture, energy, entertainment, and maritime businesses, making a significant impact on various sectors worldwide. The remarkable growth of their investment company underscores their substantial economic influence, providing employment opportunities for tens of thousands of individuals.
The Al Nahyan family’s involvement in football has left an indelible mark on the sports world. In 2008, MBZ’s Abu Dhabi United Group acquired the UK football team Manchester City for $255 million (₹2,122 crore). Through their company, the City Football Group, they now own 81 percent of this football empire, managing clubs not only in the UK but also in prominent cities like Mumbai, Melbourne, and New York. Their venture into football aligns with their diverse and influential investment portfolio, showcasing their wide-ranging interests across various sectors.
This revelation about the Al Nahyan royal family’s wealth places them in a league comparable to the British royal family, as reported by the New Yorker in 2015.