Motors and money: Billionaire crowned new king of Malaysia

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In Malaysia, a billionaire known for his motorcycle fanaticism has been crowned the new king. The enthronement of Ibrahim Sultan Iskandar took place on Saturday at the National Palace in Kuala Lumpur.

Wearing a traditional coat decorated with gold motifs and a royal headdress, the 65-year-old vowed to abide by the constitution and “uphold the religion of Islam and ensure peace in Malaysia.”

Assets of 5.3 billion euros
Sultan Ibrahim had already taken the oath as the country’s 17th king in January, and now the traditional coronation ceremony followed. He comes from the southern province of Johor, on the border with Singapore.

The financial company Bloomberg estimates the fortune of him and his family at at least 5.7 billion dollars (5.3 billion euros). The 65-year-old is also known for the fact that he rides his Harley-Davidson motorcycle through the poor areas of the country every year and hands out donations.

A new king every five years
What is special about Malaysia is that the king rotates every five years; the former nine kingdoms of Malaysia select the new monarch for the country.

In recent years, the traditionally representative office has become increasingly important due to political instability. The king oversees the appointment of politicians, acts as religious leader of the predominantly Muslim population and is commander-in-chief of the army.

Source: Krone

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