King Abdullah bin Abdul Aziz Net Worth
Net Worth: $18 Billion
Category: Richest Politicians › Royals
Birthdate: August 1, 1924 – January 23, 2015 (90 years old)
Birthplace: Riyadh, Saudi Arabia
Profession: Politician, Military Commander
Nationality: Saudi Arabia
Overview
King Abdullah bin Abdulaziz Al Saud was the King of Saudi Arabia from 2005 until his death in 2015. With a net worth of $18 billion, he was among the wealthiest royals globally. As King, Abdullah controlled vast oil reserves and oversaw 20% of the world’s oil supply, making Saudi Arabia a critical player in the global economy. His reign was marked by efforts to modernize Saudi Arabia, address domestic challenges, and maintain stability during tumultuous regional events like the Arab Spring.
Early Life
- Parents: King Abdulaziz (founder of Saudi Arabia) and Fahda bint Asi Al Shuraim.
- Birth Order: 10th son of King Abdulaziz.
- Education: Studied religion and modern science at the Princes’ School in Riyadh.
Abdullah was appointed Commander of the Saudi National Guard in 1963, a position he held for nearly five decades. His leadership in this role solidified his influence within the royal family.
Rise to Power
Crown Prince and Regent
- Appointed Crown Prince in 1982 following King Khalid’s death and King Fahd’s ascension.
- Became the de facto ruler in 1996 after King Fahd suffered a stroke.
Ascension to the Throne
- Officially became King on August 2, 2005, after the death of King Fahd.
- King Abdullah’s reign was characterized by modernization efforts and navigating global and regional challenges.
Reign as King
Economic and Social Reforms
- Education Reforms:
- Launched programs to send Saudi students abroad for higher education.
- Introduced judicial reforms, emphasizing professional training for judges.
- Economic Initiatives:
- Encouraged alternative energy development.
- Simplified business regulations to foster entrepreneurship.
- Women’s Rights:
- Advocated for limited reforms, including appointing women to the Shura Council.
Regional and Global Leadership
- Arab Spring:
- Avoided the turmoil by implementing a $37 billion stimulus package focused on education, housing, and job creation.
- Counter-Terrorism:
- Strengthened efforts to combat Al-Qaida and other extremist groups.
- Foreign Relations:
- Maintained strong ties with the United States, supporting counter-terrorism and stability in the region.
- Fostered trade relations with China.
Criticism and Challenges
- Criticized for human rights issues, including restrictions on women’s rights and free speech.
- His reign saw slow progress on reforms due to resistance from conservative factions within Saudi Arabia.
Family Life
Wives and Children
- Married 30 wives and had 36 children (16 sons and 20 daughters).
- Notable children:
- Prince Khalid: Deputy commander of the Saudi National Guard West.
- Prince Faisal: Head of the Saudi Arabian Red Crescent Society.
- Princess Adila: Advocate for women’s rights.
Family Controversies
- Several sons and daughters faced legal and personal challenges.
- Four daughters with ex-wife Al Anoud Al Fayez were reportedly under house arrest for years, leading to media reports of poor living conditions.
Health and Death
Declining Health
- Underwent multiple back surgeries between 2010 and 2012.
- Stepped back from public duties during prolonged hospital stays.
Death
- Died of pneumonia on January 23, 2015, at the age of 90 in Riyadh.
- Funeral: Held at the Grand Mosque of Riyadh, attended by global leaders.
- National Mourning: Three days declared in Saudi Arabia.
Legacy
King Abdullah is remembered for his efforts to balance modernization with maintaining Saudi Arabia’s traditional values. His economic and social reforms laid the groundwork for Saudi Vision 2030, a strategy continued under his successors to diversify the economy and reduce dependency on oil. Despite criticisms, his reign ensured stability during a volatile period in the Middle East.
