Dubai Ruler's Fortune Plummets $7.5 Billion, Named Forbes' Biggest Royal Loser
Shed a tear for Dubai's ruler, Sheikh Mohammed bin Rashid Al-Maktoum, who has been named Forbes' biggest royal loser after his fortune plummeted by $7.5 billion this year – a drop of over 60% in net worth and even worse than the $6 billion he lost last year in the wake of the emirate's financial implosion. Al-Maktoum now has only $4.5 billion in the bank, down from $18 billion two years ago – a loss of $13.5 billion in total. Others on the magazine's list of the world's richest royals fared better – top of the heap is King Bhumibol Adulyadej of Thailand whose $30 billion fortune remains unchanged, followed by the Sultan of Brunei at $20 billion (also unchanged), and King Abdullah bin Abul Aziz of Saudi Arabia whose net worth rose to $18 billion thanks to shrewd financial planning. In case you're wondering about the Queen of England, she's way down on the list with a paltry $450 million. Collectively the group's fortune is down 9%, or $10 billion this year, to $99 billion – a whopping $32 billion below their 2008 total. Time to tax those subjects.