Malaysia’s new king Sultan Ibrahim Iskandar owns 300 cars, and more
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New Delhi: Malaysia’s billionaire sultan Ibrahim Iskandar has today sworn in as the country’s new king.
Sultan Ibrahim Iskandar, who rules the country’s Johor state, took his oath of office in the presence of royal families and Prime Minister Anwar Ibrahim and Cabinet members, AFP reported.
The coronation ceremony of the new king, who has a wealth of $5.7 billion alongside several business ventures, will be held later.
The 65-year-old runs an array of ventures including real estate, mining and telecommunications and a collection of over 300 luxury cars, a fleet of private jets, a gold-and-blue Boeing 737 among others and his family owns a private army.
The royal car collection is believed to be including one gifted by Adolf Hitler.
His sprawling official residence Istana Bukit Serene is an example to his family’s wealth.
Sultan Ibrahim's investments and holdings include a 24% stake in U Mobile, a major cell service provider in Malaysia, and his investment in private and public companies is put at $588 million.
The king owns $4 billion worth of land in Singapore, including the expansive Tyersall Park.
Although his position is largely ceremonial, Sultan Ibrahim can exert considerable influence the country’s domestic and foreign policy.
Alongside maintaining ties with political leadership of the nation, the Sultan has business associations with Chinese companies.
His immense wealth and influence will place him as a key player in the regional economy and politics.