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Saudi Royal Family Net Worth 2015: The House of Saud

/ September 29, 2014

The Kingdom of Saudi Arabia is the largest Arab state in Western Asia. It was founded by Abdulaziz bin Abd al-Rahman Al Saud in 1932. The nation has been an absolute monarchy since its inception.

Before the inception of the kingdom of Saudi Arabia, the nation comprised of four regions. Also known as Ibn Saud, King Abdulaziz, united all the regions through a series of conquests, which began in 1902. He captured Riyadh in 1902. Since then the Saud family has been ruling Saudi Arabia. The family is also known as the House of Saud.

The UK has about 50 hereditary options in the line of succession for King of Queen. The house of Saud in Saudi Arabia has an estimated 15,000 members of the royal family vying for the throne. Around 2.000 members of the family control the majority of the wealth and power in the country.

In Saudi Arabia, the king is the ultimate authority. He combines legislative, executive and judicial functions. His royal decrees form the basis of the nation’s legislation.

In many countries, political leaders indulge in corruption by stealing from nation’s wealth. In Saudi Arabia, the king is the state. He need not steal what is already his. Corruption is bound to be inherent in such a system of governance.