In a surprising turn of events, the Abu Dhabi royals, known as the Al Nahyans, have emerged as the world’s wealthiest family for 2023, surpassing even Jeff Bezos and Warren Buffet combined. With a staggering fortune of $305 billion, the Al Nahyans have dethroned Walmart’s Waltons, marking a significant shift from business to royalty in the realm of global wealth.
The Al Nahyans’ rise to the top of Bloomberg’s annual ranking showcases their unprecedented wealth, outpacing the Waltons by a remarkable $45 billion. The top 5 positions also include another Middle Eastern entrant, the Al Thanis, the royal family of Qatar, highlighting the growing prosperity in the region. Bloomberg notes that the world’s richest families collectively increased their wealth by $1.5 trillion since the last ranking.
This newfound dominance is not solely attributed to Middle Eastern wealth; family-owned luxury brand Hermès, for instance, gained $56 billion, securing the third spot. However, the Al Nahyans’ success story is marked by strategic investments in diverse businesses, ranging from Rihanna’s Savage X Fenty lingerie line to Elon Musk’s SpaceX, propelling their net worth to unprecedented heights.
Instrumental in this growth are key figures like Sheikh Mohammed bin Zayed Al Nahyan, the country’s president, and National Security Adviser Sheikh Tahnoon, overseeing assets worth almost $1.5 trillion. The International Holding Co., under Sheikh Tahnoon’s guidance, experienced a staggering 7,000% surge in stock value over the past four years.
The Al Nahyans’ unparalleled affluence is evident in their extravagant lifestyle, featuring homes that are actual palaces, including the $490 million Qaṣr Al-Waṭan. Their collection of megayachts, including the $600 million Azzam and the Blue superyacht, contributes to their opulence.
The family’s extensive car collection, owned by Sheikh Hamad bin Hamdan al Nahyan and Sheikh Mansour bin Zayed Al Nahyan, and a fleet of luxurious private jets, including a $450 million Boeing 747, further showcase their wealth.
On the other hand, the Waltons, who have held the title of the world’s richest family for four consecutive years, have a combined net worth of approximately $259.7 billion. The inherently private clan, heirs to the Walmart fortune, owns sprawling mansions across various locations, with Alice Walton’s private art collection and Nancy Walton Laurie’s $350 million Kaos superyacht symbolizing their immense wealth.
While the Al Nahyans have secured their place at the zenith of global wealth, the Waltons continue to reign supreme in the business world, showcasing the diverse pathways to immense prosperity.
