How Rich Was Kuwait’s Emir Sheikh Nawaf Al-Ahmad Al-Jaber Al-Sabah?

Kuwait’s emir Sheikh Nawaf passes away

Kuwait’s emir Sheikh Nawaf al-Ahmad al-Jaber al-Sabah passed away on December 16, 2023. He was 86. Sheikh Nawaf was laid to rest on December 17 at a private funeral which was attended by select relatives. He had been battling ill health for a long time and was admitted to the hospital for an emergency health problem in late November 2023. His 83-year-old half-brother, the crown prince Sheikh Mishal al-Ahmad al-Jaber al-Sabah, has become the next emir. A crown prince will be named later.

Sheikh Nawaf’s brief tenure delivered several important policies that sought to foster greater political cohesion in the country. Kuwait has been facing parliamentary turmoil for an extended period. Sheikh Nawaf led the country through a period of political and economic instability amidst rising social expectations and fluctuating oil prices.

What was Sheikh Nawaf al-Ahmad al-Jaber al-Sabah’s net worth?

Sheikh Nawaf's net worth was reported to be $700 million at the time of his death. Meanwhile, the Kuwait Royal family, which has over 1000 royal members, is estimated to be worth $360 billion, SCMP reported in 2022, per Vocal Media.

Their fortunes are derived from the trade of oil and massive intelligent investments in finance, real estate, telecommunications, and in several US blue-chip companies.

Sheikh Nawaf's sources of income

Sheikh Nawaf was the fifth son of Sheikh Ahmad al-Jaber Al-Sabah, who served as Kuwait's ruler from 1921 to 1950. Sheikh Nawaf’s political career started at the early age of 25 when he was appointed as the governor of Hawalli province, where he remained until 1978 after which he was appointed as the interior minister, a role he served for a decade.

After the liberation of Kuwait in the Gulf War, Nawaf was appointed the acting minister of labor and social affairs in 1991 and he held the post for a year. He was then named crown prince in 2006 by his half-brother Sheikh Sabah Al-Ahmad Al-Sabah. He took over as Kuwait's Emir when Sheikh Sabah died in September 2020 at the age of 91. Sheikh Nawaf has also served as the defense minister of Kuwait.

The Sabah family has ruled Kuwait since 1752. The royal family controls the Kuwait Investment Authority which controls assets worth over $700 billion, as per Financial Times. The Kuwait Investment Authority has stakes in asset managers such as BlackRock, the UK’s Associated British Ports, Citigroup, and Merrill Lynch. They have investments in ports, airports, and power distribution systems as well.

Sheikh Nawaf's total assets

Real estate 

The Kuwait Royal family owns the extravagant Bayan Palace, which is the Emir’s residence. The massive palace is a befitting reflection of royalty, spread across an area of 1,399,500 square meters (over twice as big as Disneyland).

The Bayan Palace has six compounds featuring 18 buildings, a magnificent Conference Hall that houses 1000 people and includes a Celebration Hall, Reception Area, Press Hall, Library, and the Amiri Tent. It also has over a 1.6-mile service tunnel that caters to the buildings inside.

The family also owns the Dharnour Palace, or Palace of Light, which is the home to Sheikha Paula Al Sabah. The sea-facing estate includes a salon that opens to multi-million dollar art by Jean-Marc Bustamante, Parvis Tanavoli, and Jamal Abdul Rahim per reports. Further, the Al Sabah family owns a $3 million holiday home in Morocco, known as Marrakech Home.

Car collection

The royal family’s ultra-luxe assemblage of cars is displayed in a museum. The collection has over 50 vehicles that include historical, vintage, and classical cars. Some of the cars include Minervas from 1904 and 1924, Aston Martins from the original James Bond movies, a custom Porsche 911 Turbo S, a Ferrari F40, a Rolls Royce, and a 1960s Porsche Carrera.

Horses

The state-controlled Bait Al Arab Kuwait State Stud houses Arabian horses and straight Egyptian bloodlines who live in the 1000-acre Arabian Horse Center, which includes an administration building, a mosque, stables, a greenhouse, and an artificial lake.

Art collection

Founded by Nasser Sabah al-Ahmad al-Sabah and his wife Sheihka Hussa in 1975, the Dar al Athar al Islamiyyah, a cultural organization overlooks museums that have over 30,000 pieces of art, including pieces of Islamic art and collection from the 1st to 13th centuries. Kuwait’s al-Sabah Collection, displayed at the American Cultural Centre, has several paintings and around 90 jeweled treasures.

Private jets

The royal family of Kuwait owns a luxury-laden Boeing 747-400 of the Emir along with another Boeing 737. It also has at least five Airbuses which usually cost between $400-$500 million. The state-owned Kuwait Airways also purchased three Gulfstream V aircraft for government officials in 1998 for almost $120 million.

Sheikh Nawaf's personal life

Sheikh Nawaf was married to Sharifa Sulaiman al-Jasem al-Ghanim. They had four sons, Ahmad, Faisal, Abdullah, and Salem, and a daughter, Sheikha al-Sabah. In 2022, their eldest son, Ahmad, was appointed prime minister of Kuwait.

Philanthropy

Sheikh Nawaf was known for his philanthropy and generosity. In 2014, he was bestowed with the UN Humanitarian Honor. His programs have provided refuge to millions and supported millions in Syria with food, clean water, and medical care. Further, his philanthropic acts have extended beyond the Middle East to Chad, Ethiopia, Kenya, Nigeria, Somalia, and Sudan.

Awards

2014 UN Humanitarian Honor.

2008 Spain’s Knight Grand Cross of the Order of Civil Merit

 2011 Argentina’s Grand Cross of the Order of the Liberator General San Martín

 2007 United Arab Emirates: Collar of the Order of Zayed

 2018 Palestine: Grand Collar of the State of Palestine

FAQs

Did Sheikh Nawaf pass away?

Sheikh Nawaf Al Ahmad Al Sabah, Kuwait's ruling emir passed away at the age of 86 on 16 December 2023 after a brief three-year reign.

Who is the new prince of Kuwait?

While the crown prince Sheikh Mishal al-Ahmad al-Jaber al-Sabah has been announced as the next emir, the new prince will be named soon.

Is Kuwait a royal family?

The emirs of Kuwait are members of the Al Sabah dynasty which has ruled the country since 1752.

What was Kuwait Emir Sheikh Nawaf al-Ahmad al-Jaber al-Sabah's net worth at the time of his death?

Kuwait Emir Sheikh Nawaf al-Ahmad al-Jaber al-Sabah's net worth was reported to be $700 million at the time of his death.