Thailand's new king changed the law to put the Crown Property Bureau's billions in his own name

For 80 years the Crown Property Bureau managed the Thai crown's land and shares, including large stakes in Siam Commercial Bank and Siam Cement, under a board chaired by the finance minister. The law treated these assets as belonging to the institution of the monarchy, separate from the king's private property. King Bhumibol died in October 2016 after 70 years on the throne. His son Vajiralongkorn became king. A law published on 16 July 2017 gave the king power to appoint and remove the bureau's board at his discretion. A second law in 2018 removed the distinction between crown and private property, and the assets were registered in the king's own name. In June 2018 he became the largest shareholder of Siam Commercial Bank^†. Estimates of the holdings range from about $30 billion to more than $40 billion^†. Thai law makes criticism of the king a crime, and protests in 2020 that raised the question led to prosecutions.