Who is Hassanal Bolkiah and what is his net worth 2018? Whenever any discussion arises about the current wealthiest kings of the world, the name of the current and 29th Sultan of Brunei cannot be neglected. He is Haji Sultan Hassanal Bolkiah. He is currently the fourth richest royal in the world and the first and incumbent prime minister of Brunei as well. The Sultan is famous for his vast automobile collection, having at least 7000 cars. The biggest palace in the world, the Istana Nurul Iman is his official residence.
He was born on 15th July 1964 in Brunei Town. The Sultan received his formal education at Victoria Institution in Kuala Lumpur, after which he went on to attend the Royal Military Academy Sandhurst in the United Kingdom and finally graduated in 1967.
He ascended the throne on 5th October 1967 after his father abdicated. His coronation was held on 1st August 1968, where he was named the Head of State. He has been knighted by Queen Elizabeth II.
On 9th March 2006, the Sultan amended the Brunei constitution to make himself infallible under Bruneian law. As the prime minister, he is the Head of State and also holds important portfolios like Minister of Defence and Minister of Finance. As the minister of defense, he is the supreme commander of the Royal Brunei Armed Forces. He has recently appointed himself as Inspector General of Police (IGP) of the Royal Brunei Police Force.
Under his leadership, Brunei joined the United Nations in September 1984. The legislative council which had been dissolved since 1962, was reopened in 2004. There has been a great boost to the education system in Brunei, during his regime. Technical and vocational institutes have been built along with the establishment of religious institutes. Scholarships for study in the country and abroad are also being given.
Not only has the education system improved, the defense also strengthened with the Royal Brunei Armed Forces expanding into three major branches, i.e., Royal Brunei Land Forces, Royal Brunei Navy and Royal Brunei Air Force. Health and community welfare services have also improved with the average life expectancy being at around 70 years.
Brunei has also become a member of various international and regional organisations such as ASEAN, commonwealth, the United Nations, the Organisation of Islamic Cooperation (OIC), the Asia-Pacific Economic Cooperation (APEC) and the Non-Aligned Movement (NAM).
He has been awarded many academic honours such as an honorary doctorate at the Moscow State University for International Relations (MGIMO), 2005, an Honorary Doctor of Law degree from the University of Oxford, England, and an Honorary Doctor of Letters degree from the University of Aberdeen, Scotland.The Sultan also holds an honorary commission in the Royal Air Force of the United Kingdom as an Air Marshal and is also an Honorary Admiral of the Royal Navy of the United Kingdom.
Hassanal Bolkiah Net Worth
Having an estimated net worth of about $24 billion US dollars and a long line of family heritage, the Sultan of Brunei is undisputedly one of the richest and powerful monarchs on earth.
The Sultan currently earns $100 a second from oil earning and investments all around the world.The major source of all the Sultan’s wealth and assets are the reserves of natural gas and oil. And the requirement of huge wealth required for the stability of an economically stable country like Brunei is clearly fulfilled by him. The financial situation here is so affluent that people do not even have to pay income taxes. All of that has been made possible due to the riches made by Sultan Bolkiah.
With such great power, comes a great deal of responsibility which the Sultan has accomplished very smoothly. The Sultan has helped his country prosper economically as well as has helped improve their foreign relations which is in itself a great step to pave the path for future developments of the country.