World's richest family owns assets worth $300 billion

With the UAE home to about 6% of the world’s proven oil reserves and known for the concentration of money within royal families, it’s no secret that the ruling family Al Nahyans are rich. But investments in everything from Rihanna’s lingerie line and big data to fast food and Elon Musk’s SpaceX have propelled the wealth of the family to new heights.

Their net worth now amounts to at least $300 billion, according to an analysis of their complex holdings by the Bloomberg Billionaires Index that included regulatory filings, real estate records and corporate disclosures. That’s more than the $225 billion attributed to the Waltons, who have long been recognized as the world’s richest family thanks to Walmart Inc.’s retail dominance.

Representatives of the Al Nahyans didn’t respond to multiple requests seeking comment.

Some of the assets of Al Nahyans — who have ruled the UAE since independence half a century ago — are distinctly private, while others are intertwined with the government. Those clearly personal holdings mean their discernible wealth exceeds other Gulf clans, including the Saudi royal family.

The Al Nahyans’ holdings include trophy assets like Manchester City Football Club, a dozen or so palaces including Chateau de Baillon north of Paris, and most of London’s exclusive Berkeley Square. But the crux of the family’s ascent lies with Royal Group, a sprawling web of companies that employs more than 27,000 people in fields from finance to robotics. Over the past two decades, it’s grown from a relatively small operation to command assets worth close to $300 billion, according to people familiar with its operations, who asked not to be identified because the information is private.

As the Al Nahyans’ wealth grows, so does their influence in the region and around the world. Sheikh Tahnoon is recognized as a key mastermind of their growing business empire as well as an important political emissary. Investments in countries such as Turkey and Egypt often support efforts by his brother Sheikh Mohammed bin Zayed, the UAE’s president known as MBZ, to extend the nation’s clout.

Sheikh Tahnoon and MBZ are part of a group of six brothers, known as the Bani Fatima. They’re all sons of UAE founder Sheikh Zayed bin Sultan Al Nahyan from his third, and most prominent, wife. Sheikh Mansour — who serves as deputy prime minister, chairman of the central bank and head of the federal wealth fund Emirates Investment Authority — is another key figure, but all contribute to building the family fortune.