The Privy Purse Bureau, formerly known as the Crown Property Bureau (CPB) is a unique juristic entity established under the Crown Property Act of 1936 to manage the property of the Thai Crown. It is neither a government agency, a private firm, nor a conventional sovereign fund, and it historically operated free of taxation. Its portfolio blends vast real estate—roughly 36,000 land plots across Bangkok, plus holdings nationwide—with controlling stakes in Thailand's largest listed corporations, notably Siam Cement Group (SCG) and Siam Commercial Bank (SCB). Analysts estimate total assets at US$ 30–60 billion. In 2018 ownership passed to King Vajiralongkorn personally.