UAE President Ranked World's Second Richest Royal

By Staff

Monday, August 25, 2008, 15:07

Dubai : President of the UAE and Ruler of Abu Dhabi emirate, Sheikh Khalifa Bin Zayed Al-Nahyan, has been ranked the second richest royal in the world by the Forbes magazine, as five rulers from the Gulf Arab states figured in the 'Top Ten List'.

His wealth of approximately 24 billion dollars was topped only by the King of Thailand's, worth 36 billion dollars.

The ruler of Dubai Sheikh Mohammed Bin Rashid Al Maktoum was adjudged fifth, with an estimated fortune of 18 billion dollars.

The Queen of England, elizabeth ii, is now the world's 12th richest monarch, after slipping one place in the Royal Rich List published by the Forbes Magazine.

King Bhumibol Adulyade of Thailand, the world's longest-reigning monarch, replaced last year's winner the Sultan of Brunei at the first place. The Sultan was relegated to the fourth spot with fortue worth 20 billion dollars.

Saudi King Abdullah Bin Abdulaziz came third with 21 billion dollars, while Sheikh Hamad Bin Khalifa Al Thani of Qatar was seventh and Sultan Qaboos bin Said Al Said of Oman ended up tenth in the list.

On the whole the monarchs grew richer, seeing their collective wealth increase to 128 billion dollars.

The high oil price added to the wealth of the Arab Royals.