As of 2021, King Rama X of Thailand, also known as Maha Vajiralongkorn, is estimated to have a net worth of around $43 billion, making him one of the wealthiest monarchs in the world. Meanwhile, the majority of Thai people are struggling with poverty and inequality. So, why is the king so rich? The answer is complex and involves a combination of factors.
Firstly, the Thai monarchy holds significant power and control over the country's wealth and resources. The king is the head of state and the custodian of the country's royal assets, including extensive land and property holdings, palace treasuries, and business interests across various industries. This gives the monarchy immense economic influence and enables them to accumulate vast amounts of wealth.
Secondly, the Thai monarchy enjoys legal immunity and is exempt from taxes, allowing them to generate an enormous amount of revenue without having to contribute to the country's public finances. Additionally, the monarchy receives a substantial budget from the government, which is allocated from taxpayers' money. This budget includes expenditures for the upkeep of the royal palaces, travel expenses, and other costly endeavors that contribute to the king's extravagant lifestyle.
Thirdly, the Thai monarchy has historical roots in the country's culture and traditions that instill a deep reverence and admiration for the king among the Thai people. The monarchy's iconic status is evident in the elaborate ceremonies, holidays, and rituals that are centered around the king and his family throughout the year. This reverence translates into social and political power, which allows the monarch to maintain their wealth and influence over time.
Despite the king's immense wealth, Thailand remains one of the most unequal countries in the world, with a significant portion of the population living in poverty. The income gap between the rich and poor continues to widen, and many of the country's social welfare programs are inadequate or inaccessible to those who need them the most. This has led to widespread protests and demands for reform, including calls to reduce the monarchy's power and wealth.
In conclusion, the reasons behind King Rama X's enormous wealth are multifaceted and deeply entrenched in the country's cultural, social, and political structures. While the monarchy's power and influence are integral to Thailand's identity and history, the issue of wealth inequality and poverty is a significant challenge that must be addressed by the government and the Thai people as a whole.
