When we think of the richest people in the world, the names Bill Gates or Jeff Bezus naturally come to mind first. According to Forbes or other business magazines, Bill Gates, Jeff Bezus, Mark Zuckerberg, Warren Buffett are the names that come back in the list.
But have you ever wondered why the British royal family, sheikhs or Saudi princes are not seen in these lists?
Kuwait, Saudi Arabia, Qatar, these countries are full of various riches and most of the sheikhs or princes of these countries live a more luxurious life than Bill Gates. So what is the reason they do not get a place in this list?
Many other magazines like Forbes, Business Insider, Bloomberg make these lists of the richest people in the world. Of these, Forbes is the most popular.
So how does Forbes gather data from around the world to make this list?
Most businesses collaborate with Forbes by providing a variety of data. But for those who don’t want to collaborate, Forbes has a team of 50 reporters. These reporters first made a possible list. They are then interviewed through regular contact with various family members, friends or employees of the organization. Reporters always keep an eye on potential list members. None of the business deals, property purchases or sales of those traders escape their notice.
However, not all the information published in Forbes is accurate. Some mistakes have been noticed in various Forbes lists over the years. But, even then Forbes is by far the most trusted business magazine in the world.
So why doesn’t Forbes include the British royal family or the Saudi sheikhs in their list?
First, Forbes lists those who have made at least 1 billion in net worth, not family assets. There are many businessmen who have not become rich by their own efforts. For example, Mukesh Ambani comes from a rich family and is currently one of the richest people in the world.
So how is this calculation done?
For example, let’s say a man had 20 billion and he was on the Forbes list, in his old age he divided his wealth among 5 children by 4 billion. Now the kids who got 4 4 billion won’t be on Forbes ’list. But, if any of them can increase that 4 billion to 40 billion, he will get a place in the list.
This is why most Saudi princes do not appear on the Forbes list, as most of their assets are family-owned. Second, it is almost impossible to determine the true net worth of the sheikhs or rulers of those country’s.
In 2016, Al-Walid bin Talal was ranked by Forbes with a net worth of 18 billion. But after the list was released, al-Walid said the information was incorrect and that the amount of his assets was at least 10 times higher! And since then, Forbes has decided that members of the royal families of West Asia will no longer be included in Forbes’ list.
Now if you think of the British royal families, none of the property that the queen and her family enjoy is their personal property, they are all Crown’s property.
That means whoever has the crown on his head or who will be the queen will be able to enjoy them and his family. That is why British royal families are not included in the list of Forbes.
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