King Maha Vajiralongkorn formally inherits assets including the Siam Commercial Bank after death of his father

The vast wealth of Thailand’s royal family has formally turned over its assets with more than $30bn 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, which controls the royal wealth, 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.

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