What's up guys and welcome back to wall street millennial today we're doing a different type of video, we're talking about the insane story of maha vijarakorn, the king of thailand, who also goes by the name brahma x. He lives a life of luxury and spends billions of dollars on himself. While much of the thai population lives in poverty, he has an estimated personal fortune of 40 billion dollars, which is close to 10 percent of the country's gdp. Another way to measure his wealth is that it's equal to what an average thai citizen makes in 5 million years, and what does he do to deserve his lavish compensation in 2020, while his country was in the midst of a public health and economic crisis, he fled To germany to stay in a luxury hotel with an entourage of 20 women, some would say he does nothing for his country's people.

Besides spend billions of dollars worth of their hard-earned money. He runs the royal activities solely for his own personal enjoyment. In this video we'll go over how king maha came to power and how he spends his money. Rama 10 is the son of previous king rama, 9 and born in bangkok in 1952.

In 1972 he attended a royal military college in australia where he received military training and attended regular classes. After finishing his education, he joined the royal thai army where he served as staff officer for their intelligence department. He rose the ranks, learning how to fly airplanes and helicopters and eventually became head of the king's bodyguard battalion. In 2016, king rama 9 died of natural causes, leaving the door open for his only son, rama 10, to take the throne ramatan effectively started ruling almost immediately, but for technical reasons he wasn't crowned until 2019.

He was retroactively declared ruler after his father's death. In 2016.. Thailand is a constitutional monarchy whereby the king holds very little political power and is mostly a ceremonial figurehead, but rama 10 wanted to change. This importantly, the thai royal family owns the crown property bureau, which owns approximately 33 billion dollars worth of real estate across the country.

Their land includes prime locations in bangkok, which hosts high traffic shopping malls, government, buildings and others. Every year the crown property bureau collects hundreds of millions, if not billions, of dollars worth of rent once in power. Rama 10 wasted little time in transferring billions of dollars worth of these assets into his own name. In 2016, he proposed new constitutional amendments, which would give himself greater power.

These changes allowed him to take full control over the crown bureau and it was to be managed under his own discretion. He also appointed his private secretary as chairman of the entity, a position previously held by the finance minister in addition to real estate. The bureau also owns shares in publicly traded companies in 2018. King rama 10 transferred ownership of these assets to be held in his own personal name.

He now owns a 23 stake in the industrial conglomerate siam cement group in a 33 state in cyan commercial bank, which is one of the nation's largest banks. These two positions combined are worth almost 10 billion dollars. The actions of the king, since he took power in 2016, have been nothing short of a national disgrace. He squanders hundreds of millions of dollars on personal consumption.

It's hard to find media accounts of his activities as criticism of the royal family is punishable by up to 35 years in prison, but the little information that we do have is more than enough to see what type of a person he is even before he took Over as king, it was clear that he viewed his royal position of crown prince as a joke. In 2009 he appointed his pet poodle fufu as the air chief marshal of the royal thai air force. When the dog died in 2015, he commissioned a four-day ceremonious funeral proceeding. Another area of controversy is his five separate marriages.

His first marriage was with his first cousin princess swam sawalu kitayakara in 1997.. In 1993. He divorced her in the divorce court. He said that the princess was completely at fault for a failed marriage, a charge she could not contest, as it was illegal to criticize the crown prince one year after the divorce.

He married an actress, sujarini vivicharongsi. However, this marriage did not last long and just two years after the wedding, the crown prince, accused her of adultery and she was effectively banished from the country. In 2001 he married his third wife, surasami sawadi. This marriage lasted 13 years until 2014, when the crown prince accused her family members of corruption and officially divorced her in 2019.

Just days before his formal coronation as king, he married his fourth wife suthita tajai in formal royal ceremony, suthea used to be one of his bodyguards in july of 2019. Just a couple months after his most recent marriage, he appointed another woman, sunina wanjikarabki as world noble consort, which basically means she's his concubine. This was controversial and the king's sister objected to the concubine being given the title of second queen. According to media reports, the king became angry with his sister.

He allegedly unleashed his dogs to knock her on the ground and proceeded to break both of her ankles leaving her in the hospital. Of course, the king was never charged with any crime and there is never any formal investigation. The time media did not report on the incident, as it is illegal to publish negative stories about the king, based on the preponderance of evidence publicly reported by the international media. It's pretty clear what type of person the king is.

He cares only about his personal wealth and satisfying his hedonistic desires. He has the temperament of a five-year-old and throws temper tantrums whenever anyone criticizes him and he hides behind his world title to avoid facing any accountability. For his actions in the summer of 2020, tens of thousands of thai citizens staged large protests against the parliament, which is controlled by the military and widely considered to be corrupt. The protesters demanded a new constitution, greater civil liberties and importantly, reformation of the monarchy.

The government responded by declaring a state of emergency, deploying the military and performing mass arrests of protesters. The police have deployed tear gas, chemical laced, water cannons and live ammunition against crowds of protesters, instead of trying to address any of the protesters, concerns or help with the country's response to the pandemic. The king rented out a luxury hotel in germany, along with an entourage of 20 women, while the thai people were suffering unprecedented economic hardship as a result of the pandemic, the king spent his time browsing shopping malls in germany wearing a crop top seeing these pictures further Enraged the protesters as it blatantly exposed just how little the king cared about his people. He essentially created his own luxury resort in germany, so he could live in a bubble and not have to think about the affairs within his own country.

The thai king's long stay in germany became a political issue domestically. It is technically illegal for the king to rule his country remotely from germany, under pressure from both germany and the thai protesters. He finally relented and went back to thailand in october of 2020.. After the king arrived back home, not much has changed.

He still holds on to his 40 billion dollars of wealth and the military-backed parliament continues to oppress the country. The protests are ongoing with no end. In sight, with an estimated net worth of 40 billion dollars, king rama 10 is the richest man in thailand and one of the richest men in the world wealth inequality has become a big topic of debate in many western countries. As tech founders have amassed personal fortunes worth tens or even hundreds of billions of dollars, but at least they created something of value in society to earn their wealth.

This is more than the thai king can say throughout his entire life. He created nothing. He's never worked. A real job and all he's done is expropriate sovereign assets to his personal ownership and squander hundreds of millions, if not billions, of dollars on his personal consumption.

If he distributed his wealth to the people, he could give every man, woman and child more than five hundred dollars. While this doesn't sound like much, many thai communities have suffered tremendously as a pandemic. Decimated the tourism industry receiving five hundred dollars could be the difference between making it through to the other side versus starving. If the king could just give 39 billion dollars to the people and keep one billion dollars for himself, this would still leave him with more than enough money to buy anything.

A normal person could ever dream up for the rest of his life. Such an act could restore his reputation and likely satisfy many of the anti-monarchy protesters. The king will probably continue spending his money, and the military government will continue oppressing the people until they are overthrown. Since ancient times, governments have existed for the primary purposes of extracting tax revenue from its subjects for the benefit of the monarchies and government officials.

The transition to a democratic government accountable to the people is a relatively recent phenomenon that is not guaranteed to happen. It appears that thailand still has quite a ways to go before it can achieve anything like this. Alright guys that wraps it up for this video. What do you think about the thai king? Let us know in the comment section below make sure to follow us on twitter, where we post about current events in the stock market.

The link is in the description below, as always. Thank you so much for watching and we'll see in the next one wall. Street millennial signing out.