Malaysia’s mega-wealthy king has blown GBP 250,000 on a special ‘GOLD 1’ car number plate to add to his astonishing collection of more than 300 luxury motors.

Yang di-Pertuan Agong Sultan Ibrahim announced that he had forked out MYR 1.5 million (GBP 250,000) on the plate through his official Instagram account on 20th February.

The statement claimed it was the highest amount ever paid in Malaysia for a car number plate.

It is nearly 23 times the average annual income in the country.

The plate was symbolically presented to the multi-billionaire king by Transport Minister Anthony Loke Siew Fook at his golden-domed palace Istana Negara, or National Palace.

The Malaysian Transport Ministry had previously announced a series of special GOLD numberplates on 30th January.

The plates were created to commemorate the golden jubilee of the creation of the Malaysian Federal Territories in 1974.

Local media reported that the proceeds from the sales will be channelled to the federal government to be used by the Ministry of Transport to fund driving licences and helmets.

The statement obtained by Newsflash from the official account of the Sultan said: “The special issue vehicle number plate ‘GOLD 1’ became the property of His Majesty the King, Sultan Ibrahim after bidding the highest amount in the history of the country, which will be channelled to the Federal Government.”

King Ibrahim and his family are said to be worth nearly USD 6 billion from a massive property and business portfolio and run a fleet of hundreds of private planes and classic cars.

His family collection includes Ferraris, a bright pink Rolls-Royce and a 1936 Mercedes 540 once owned by Adolf Hitler.