<P> King Salman elevated his son Mohammad bin Salman to Crown Prince in June 2017, following his decision to depose Muhammad bin Nayef of all positions, making his son heir apparent to the throne; and making the next succession father - to - son, for the first time since 1953 when Saud bin Abdulaziz Al Saud succeeded his father, the founder of Saudi Arabia, Ibn Saud . </P> <P> In June 2015 Forbes listed Prince Al - Waleed bin Talal as the 34th - richest man in the world, with an estimated net worth of US $28 billion . Prince Al - Waleed had a net worth of $20.4 billion in 2014 . King Salman had a net worth estimated at US $17 billion in 2016 . </P> <P> The net worth of the entire royal family has been estimated at well over $1.4 trillion which makes them one of the wealthiest families in the world if not the wealthiest . </P> <P> Due to its authoritarian and quasi-theocratic rule, the House of Saud has attracted much criticism during its rule of Saudi Arabia . There have been numerous incidents, from the Wahhabi Ikhwan militia uprising during the reign of Ibn Saud to various coup attempts by the different branches of the Kingdom's military . </P>

How much money do the saudi royal family have