King of Thailand inherits gargantuan family fortune

King Maha Vajiralongkorn.
King Maha Vajiralongkorn. Photo credit: Reuters

King Maha Vajiralongkorn of Thailand has inherited his family's fortune, a cool US$30 billion (NZ$43 billion) of crown assets.

His inheritance comes after the Crown Property Bureau - the agency managing the fortune - formally announced he would now be able to oversee the family assets - one of the largest fortunes in the world, according to Forbes' 2011 rankings.

The assets include shares in a number of large companies.

His father, the late King Bhumibol Adulyadej, held the throne for seven decades before passing away in 2016.

King Vajiralongkorn, 65, will not be able to use all the family fortune - but it is totally tax exempt, as per his father's wishes.

The new king assumed the throne in December 2016 after his father's death in October that year.