The Al Nahyan royal family, prominent in Abu Dhabi and the UAE, is among the wealthiest families globally, with an estimated net worth of over $305 billion
Their wealth primarily stems from the country’s vast oil reserves, which have significantly contributed to the UAE’s economy and their personal fortunes.
As Forbes magazine put it, in the Arab world families are ‘pillars of the economy’ who provide jobs and stability.
The Al Nahyan family with its stake in a football club, oil reserves and multitude of other businesses are among the largest job providers in that part of the world. The family is also a mega investor with investments in Rihanna’s Fenty and Elon Musk’s SpaceX.
A report by magazine GQ said the Al Nahyan family’s presidential palace is equal to the size of three Pentagon buildings and is worth ₹4,078 crore. The holders of the major stake in Britain-based Premier League football club Manchester City also own eight private jets.
The family is headed by the United Arab Emirates (UAE) President Sheikh Mohamed bin Zayed Al Nahyan (MBZ) who has 18 brothers, 11 sisters, nine children, and 18 grandchildren.
Oil Reserves, Football Clubs And Palace As Big As Five Pentagons
The family’s vast fortune comes from oil reserves as they own about six per cent of the world’s oil reserves.
They have invested in Rihanna’s beauty brand Fenty, and Elon Musk’s SpaceX and Zayed Al Nahyan’s brother, Sheikh Mansour bin Zayed bin Sultan Al Nahyan, often referred to as Sheikh Mansour, holds stakes in a variety of football clubs through City Football Group, including English Premier League’s defending champions, Manchester City.
The family also owns the massive Qasr Al-Watan presidential palace in Abu Dhabi, which spans nearly 94 acres.
They also own a chandelier made up of 350,000 crystals.
Tahnoun bin Zayed Al Nahyan, MBZ’s brother, heads the family’s chief investment company, valued at $235 billion. He is the chairman of Abu Dhabi Developmental Holding Company (ADQ), a state holding company worth $110 billion.
Both companies invest in agriculture, energy, entertainment and maritime businesses and provide jobs to tens of thousands of people.
Sheikh Hamad bin Hamdan al Nahyan, the younger brother of Abu Dhabi’s ruler, boasts an impressive collection of over 700 cars. This remarkable collection includes some of the most exclusive vehicles in the world, such as the largest SUV globally, five Bugatti Veyrons, a Lamborghini Reventon, a Mercedes-Benz CLK GTR, a Ferrari 599XX, and a McLaren MC12.
Comments
0 comment