The jewelry set that the Saudi Arabian family sent to Michelle Bolsonaro does not even represent 1% of the House of Saud, as the monarchy is known in the country. According to the royal official website, the combined wealth of Prince Mohammed Bin Salman and his family is estimated at US$1.4 trillion equivalent to R$7.2 trillion at current exchange rates. The jewels, in turn, were valued at BRL 16.5 million.
The wealth exceeds the GDP of the countries. According to the World Bank, the royal family has more money than the GDP of Mexico, the Netherlands, Switzerland and Norway. However, Brazil remains ahead with a GDP of $1.6 trillion.
Most of the money source is oil. The kingdom had its rise after the 1930s when oil was discovered in the region. Since then, the product has been the family’s main source of income. They own the stateowned company Saudi Aramco, which last year was ranked the third largest company in the world by Forbes. The magazine estimates the company’s market value at $2.2 billion.
Investments also contribute to equity. The royal family also has businesses in various industries such as real estate, technology, and finance. Among them is Kingdom Holding Company, which has a portfolio of investments in companies like Citigroup, News Corporation, and even Twitter.
What else does the family own?
- The English club Newcastle. Prince Mohammed Bin Salman is head of the country’s public investment fund, which is expected to pay out £300 million (about R$2.2 billion) for 80% of the football team.
- The most expensive house in the world. The Chateau Louis XIV in Paris, France was purchased by the prince in 2015. He paid 230 million pounds (1.7 billion real). The place has ten rooms, indoor and outdoor pool and a library.
- Original work by Leonardo Da Vincci. In 2017 he paid $450 million (almost R$2.5 billion today) for the painting Salvator Mundi. The piece is located in the Louvre in Abu Dhabi, the capital of the United Arab Emirates.
- Millionaire Yacht. The prince also owns the Serene, a $400 million superyacht. The vehicle once belonged to Russian oligarch Yuri Shefler and also hosted Bill Gates’ family vacation.
As far as my personal expenses are concerned, I am a rich person, not a poor person. I’m not Gandhi [Nelson] mandela I am a member of a ruling family that existed hundreds of years before the founding of Saudi Arabia. Mohammed Bin Salman in an interview with CBSNews.
Michelle Bolsonaro’s jewelery case
A necklace, ring, watch and a pair of diamond earrings belonging to Michelle were found in October 2021 in the backpack of military officer Marcos André dos Santos Soeiro, who was advising thenminister Bento Albuquerque. The jewelry is said to have been a gift from Michelle the government of Saudi Arabia to the then First Lady.
The Federal Treasury intercepted the order at Guarulhos International Airport (SP) because Brazilian law requires goods arriving from abroad valued at more than a thousand dollars to be declared.