BANGKOK – The official agency that had managed the vast wealth of Thailand's royal family has announced that its assets have formally been turned over to King Maha Vajiralongkorn, who assumed the throne after the death of his father in 2016.
An undated announcement seen Saturday on the website of the Crown Property Bureau says that assets it has been administering will be put in the same category as the monarch's personal assets and managed together at his discretion.
Forbes magazine's rankings of the world's richest people had estimated the fortune of the late King Bhumibol Adulyadej at more than $30 billion, including the holdings of the Crown Property Bureau. King Vajiralongkorn last year had already asserted total control over the bureau.
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