Billionaireaustralia.com - Another author that needs to do more research
I just wants to point out that "Royal Property" does not mean that its
the King's private property. "Royal Property" is the entire Royal
Family's property, and not personal fortune.
Many companies, if not almost all, are held under "Royal Property" and is managed by Ministry of Finance and Royal Treasurer,. I am guessing that since by name since the King is the head of the Royal Family, the "Royal Property" was calculated into the King's Private Property by Billionaireaustralia.com, which is.. absurd.
Part of the article can be rad here: http://www.billionairesaustralia.com/search-trillionaires-king-bhumibol-thailands-hidden-treasures/
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In our latest instalment of In Search of Trillionaires, we are turning our attentions to another monarch.
If the wealth of Queen Elizabeth II intrigued you, the glorious gems and treasures covered in this week’s feature will really make your eyes sparkle as we look to an altogether different royal. Royal families may seem like the obvious target, but uncovering the true wealth hidden for hundreds or even thousands of years by reigning royal families is a difficult task even for the most dedicated investigator, but Billionaires is up to it.
Our approach differs somewhat on this particular trillionaire as, while many may see the secrecy surrounding the wealthy – such as those acting as heads of states – as a sign of greed, this week’s subject hides his wealth and assets from the world out of fear rather than selfishness.
So without further ado, let us reveal the trillionaire we have been researching this week: King Bhumibol of Thailand.
Bhumibol is the ninth and longest-serving monarch of Thailand, having
spent over 68 years as the country’s head of state. The king has lived
through many disruptions always maintaining his leadership, as well as
the respect of his citizens.
Taking the throne and marrying his wife in the same year, at just 18 Bhumibol was handed huge responsibilities.
During his reign he is noted for reintroducing many royal traditions unseen since the country saw the absolute monarchy overthrown in the Siamese Revolution of 1932. This newfound respect for the monarchy is heralded by some as the key to Bhumibol’s successful reign – thanks to his skill in earning respect rather than demanding it through oppression and fear.
His people regard him as a stalwart figure who brought stability to Thailand while neighbouring Burma, Cambodia and Laos suffered under military dictatorships, fought wars and lived with communism. The 2003 War on Drugs is regarded as a defining moment in the king’s reign, where drug dealers and users were targeted by the government to clean up the streets and provide a better future for the youth of Thailand. While some international countries criticised the campaign, it was successful, especially within schools.
But here at Billionaires, it’s the king’s wealth we
really want to know about! His funds are managed by the Crown Property
Bureau (CPB), which is a unique body set up by the king with no
involvement from the government or any private firms. The figures are
only available to the king, but in 2008 Forbes estimated its contents to
outline a total wealth around $35 billion (AU$39.8 billion).
The Thai government and royal courtiers wildly opposed this number, but Forbes’ 2009 estimate only went down by $5 billion.
But without seeing the CPB balance sheet, where has Forbes got this estimate? We investigated and discovered that the sum is a roundup of the head of state’s land and business investments, well those that we know of, anyway.
Investigations show that the king owns around 13,200 acres of land across Thailand, plus an additional 3,320 in the city of Bangkok alone. We were surprised to learn that included in this land are some notable premises such as the CentralWorld shopping mall and the Four Seasons hotel in Bangkok. These are only two of his 40,000 rental contracts providing upwards of $80 million in income each year.
When it comes to investments in businesses, we discovered even higher sums. Under the CPB, the monarch holds a 23 per cent stake in one of Thailand’s biggest banks, Siam Commercial Bank, which has a market cap of $13 billion. In addition to this, a 32 per cent interest in the industrial conglomerate Siam Cement group – worth $12.6 billion – is also held.
If we combine the assets in just these two companies that we know of, the king comes out with $7 billion worth of company stocks, which in 2010 paid out dividends of $184 million to the CPB.
Our research suggests that on this basis alone, the CPB makes an average $300 million a year.
It is believed however, that the CPB holds further investments in
companies not listed publicly. After some digging we found that the
German hotel group Kempinski AG and the Bangkok-based Deves Insurance
firm are two such companies, but there could be many more providing
further assets in the king’s pocket.
Why is it do you think that the King of Thailand would want his people to think that he is not quite as rich as reports suggest? Many believe it is out of fear of rejection. The notion that one man is worth over a trillion dollars is a difficult concept to deal with, and so it is suggested that Bhumibol has chosen to keep the assets that make him such a man secret.
But just what are these assets?
Well, we’ve explored the standard real estate and businesses investments. But Billionaire’s sources close to the King have revealed that the monarch owns more than just land and companies; he also has a massive stockpile of rarer assets, namely gold and jewels.
We are led to believe that vast amounts of smuggled jade, rubies, sapphires and diamonds from Burmese mines form a major part of King Bhumibol’s trillion-dollar assets.
These have topped up the already numerous precious stones found in Thailand. Our investigative journalists claim that the country’s land produces every precious stone known to man, and as Bhumibol owns so much land, he has harvested its offerings.
On top of this, the ruling royal has a stash of 9,000 tons of gold in his possession, our investigators discovered. Yes, that’s around $350 billion worth of just gold at current prices.
This astounding reserve of gold begs the questions, where does someone hide such vast hauls of precious metal, and how has it not been discovered?
The answer to the latter question may lie in the law of lèse majesté, which states that anyone who defames or insults the monarchy may be imprisoned for between three and 15 years. Therefore, anyone who might seek to unveil the King’s wealth as a means of isolating him from his people could face some serious consequences.
Indeed, our sources have suggested King Bhumibol’s assets have been concealed not to shield them from the public’s gaze, but primarily to protect the family from the threats and consequences that could arise should his status as a true trillionaire ever be exposed.
Many companies, if not almost all, are held under "Royal Property" and is managed by Ministry of Finance and Royal Treasurer,. I am guessing that since by name since the King is the head of the Royal Family, the "Royal Property" was calculated into the King's Private Property by Billionaireaustralia.com, which is.. absurd.
Part of the article can be rad here: http://www.billionairesaustralia.com/search-trillionaires-king-bhumibol-thailands-hidden-treasures/
--------------------------------------------------------------------
In our latest instalment of In Search of Trillionaires, we are turning our attentions to another monarch.
If the wealth of Queen Elizabeth II intrigued you, the glorious gems and treasures covered in this week’s feature will really make your eyes sparkle as we look to an altogether different royal. Royal families may seem like the obvious target, but uncovering the true wealth hidden for hundreds or even thousands of years by reigning royal families is a difficult task even for the most dedicated investigator, but Billionaires is up to it.
Our approach differs somewhat on this particular trillionaire as, while many may see the secrecy surrounding the wealthy – such as those acting as heads of states – as a sign of greed, this week’s subject hides his wealth and assets from the world out of fear rather than selfishness.
So without further ado, let us reveal the trillionaire we have been researching this week: King Bhumibol of Thailand.
King Bhumibol in 2010, Government of Thailand
Taking the throne and marrying his wife in the same year, at just 18 Bhumibol was handed huge responsibilities.
During his reign he is noted for reintroducing many royal traditions unseen since the country saw the absolute monarchy overthrown in the Siamese Revolution of 1932. This newfound respect for the monarchy is heralded by some as the key to Bhumibol’s successful reign – thanks to his skill in earning respect rather than demanding it through oppression and fear.
His people regard him as a stalwart figure who brought stability to Thailand while neighbouring Burma, Cambodia and Laos suffered under military dictatorships, fought wars and lived with communism. The 2003 War on Drugs is regarded as a defining moment in the king’s reign, where drug dealers and users were targeted by the government to clean up the streets and provide a better future for the youth of Thailand. While some international countries criticised the campaign, it was successful, especially within schools.
A monument marking King Bhumibol’s birthday
The Thai government and royal courtiers wildly opposed this number, but Forbes’ 2009 estimate only went down by $5 billion.
But without seeing the CPB balance sheet, where has Forbes got this estimate? We investigated and discovered that the sum is a roundup of the head of state’s land and business investments, well those that we know of, anyway.
Investigations show that the king owns around 13,200 acres of land across Thailand, plus an additional 3,320 in the city of Bangkok alone. We were surprised to learn that included in this land are some notable premises such as the CentralWorld shopping mall and the Four Seasons hotel in Bangkok. These are only two of his 40,000 rental contracts providing upwards of $80 million in income each year.
When it comes to investments in businesses, we discovered even higher sums. Under the CPB, the monarch holds a 23 per cent stake in one of Thailand’s biggest banks, Siam Commercial Bank, which has a market cap of $13 billion. In addition to this, a 32 per cent interest in the industrial conglomerate Siam Cement group – worth $12.6 billion – is also held.
If we combine the assets in just these two companies that we know of, the king comes out with $7 billion worth of company stocks, which in 2010 paid out dividends of $184 million to the CPB.
Our research suggests that on this basis alone, the CPB makes an average $300 million a year.
Bhumibol with wife Sirikit after their wedding
Why is it do you think that the King of Thailand would want his people to think that he is not quite as rich as reports suggest? Many believe it is out of fear of rejection. The notion that one man is worth over a trillion dollars is a difficult concept to deal with, and so it is suggested that Bhumibol has chosen to keep the assets that make him such a man secret.
King Bhumibol in a meeting with Barack Obama
Well, we’ve explored the standard real estate and businesses investments. But Billionaire’s sources close to the King have revealed that the monarch owns more than just land and companies; he also has a massive stockpile of rarer assets, namely gold and jewels.
We are led to believe that vast amounts of smuggled jade, rubies, sapphires and diamonds from Burmese mines form a major part of King Bhumibol’s trillion-dollar assets.
These have topped up the already numerous precious stones found in Thailand. Our investigative journalists claim that the country’s land produces every precious stone known to man, and as Bhumibol owns so much land, he has harvested its offerings.
On top of this, the ruling royal has a stash of 9,000 tons of gold in his possession, our investigators discovered. Yes, that’s around $350 billion worth of just gold at current prices.
This astounding reserve of gold begs the questions, where does someone hide such vast hauls of precious metal, and how has it not been discovered?
The answer to the latter question may lie in the law of lèse majesté, which states that anyone who defames or insults the monarchy may be imprisoned for between three and 15 years. Therefore, anyone who might seek to unveil the King’s wealth as a means of isolating him from his people could face some serious consequences.
Indeed, our sources have suggested King Bhumibol’s assets have been concealed not to shield them from the public’s gaze, but primarily to protect the family from the threats and consequences that could arise should his status as a true trillionaire ever be exposed.
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