Thailand’s Crown Prince Maha Vajiralongkorn is in the spotlight as he’s set to inherit the country’s throne following the death of his father King Bhumobol Adulyadej. As the much-loved late king’s only son, Vajiralongkorn was named Adulyadej’s successor to the throne 40 years ago. Read on to find out more about his extraordinary and controversial lifestyle… and what it costs.

In the wake of his father’s death the 64-year-old prince (pictured here on the far left) has the task of adjusting his playboy reputation to win over the Thai public. As monarch, Vajiralongkorn (pictured left) would have influence over royal investments held by the Crown Property Bureau, which by 2012 climbed to an estimated $41.3 billion (£33.6bn), three times more than that of the British throne.

As one of the world’s wealthiest monarchs, the late king (pictured left) left behind an estimated fortune of more than $30 billion (£24.4bn). The monarch's assets include shares, land and a 545-carat golden jubilee diamond which are set to be inherited by various family members.

Vajiralongkorn was born on July 28 1952 in Bangkok and was destined to rule the Thai nation from birth. He is the second child of King Adulyadej and Queen Sirikit. In December 1972 Vajiralongkorn was formally named crown prince and had the word Maha, meaning great, added before his name. It was the first time a crown prince had been named in 77 years.

Few people really know who Vajiralongkorn is and what sort of lifestyle he leads due to Thailand’s strict laws banning stories on the royal family. Like his late father, Vajiralongkorn is protected by ‘lese majeste’ laws that can lead to 15 years in prison for those convicted of threatening or insulting key members of the royal family.

Most of the late King Adulyadej’s wealth comes from land ownership which brought in about $80 million (£65.1m) in rental income in 2010. In addition to income from property, he also had shares in several companies, including Siam Cement Group and Siam Commercial Bank, worth more than about $7 billion (£5.7bn). The Thai royal family also receives public money for the upkeep of palaces, expenses and security.

One of which is Vajiralongkorn, who lives a lavish lifestyle, having spent more than $12,000 (£9,767) on antiques alone in the UK during a visit four years ago. His interests extends to expensive planes, having been presented a $20 million (£16.3m) F-16 fighter jet by the Thai military in 1992 for his personal use.

Vajiralongkorn studied at the palace’s school in Bangkok before leaving at 13 to attend the private King’s Mead School in Sussex, England.

The prince went on to study in Australia, graduating from the Royal Military College at Duntroon in 1975 before returning to Thailand.

He became a captain in the Thai army and was a serving officer in the fight against communists. He is a qualified pilot and flies helicopters, fighter jets and his own Boeing 737.

In contrast to his father, Vajiralongkorn built a reputation for womanising, extravagance and bizarre self indulgence. Vajiralongkorn has been married three times, with his second and third marriages ending in controversy in the public eye.

In 1977 Vajiralongkorn married his cousin ML Soamsawali Kitiyakara. She gave birth to their first child, Princess Bajrakitiyabha, in 1978. The couple were married for 16 years before the prince married his mistress, actress Yuvadhida Polpraserth, in 1994. Polpraserth gave birth to Vajiralongkorn’s first son, Prince Juthavachara Mahidol, in 1979.

In 2001 Vajiralongkorn married Princess Srirasmi Suwadee (pictured left), who gave birth to a son in 2005. In 2007 the eccentric private life of the pair was exposed when a video surfaced of Princess Srirasmi, a former bar waitress, topless at her birthday party eating cake with their poodle Foo Foo.

That same year, Vajiralongkorn named Foo Foo as an air marshal and took the pooch dressed in formal evening attire to a reception hosted by US Ambassador Ralph Boyce. When Foo Foo died in 2015 the dog lover held a four-day funeral in honor of his furry friend.

Vajiralongkorn’s compassion for animals, however, doesn’t seem to extend to family members. The prince stripped Srirasmi of her royal title and divorced her, costing the monarch $6 million, after she was accused of using her ties to the monarchy for personal gain. At least eight members of her family were accused of the same crime and imprisoned, with her parents handed a two and a half year sentence.

Not surprisingly, Vajiralongkorn is yet to attain the same popularity as his adored father who was married to Queen Sirikit for 66 years. Until recently, the prince was rarely heard from in the public. But in the twilight of his father's reign, and with Thailand ruled by the military, he assumed official duties.

Last year he led two mass cycling events that thrust him onto center-stage as his father’s health deteriorated. He led the events with Thailand’s key political players in tow. But the events were not free of scandal. They were tainted by corruption when several senior officials, including military and police, were charged for using their connections to the prince to profit from the events.

Vajiralongkorn spends a significant amount of time abroad, particularly in Germany where his personal jet is recorded as making landings. His personal Boeing was actually seized in 2011 because the Thai government refused to pay $42 million it allegedly owes to a German company.

Recently the heir was photographed at Munich airport wearing a rolled-up tank top, saggy jeans and fake tattoos with poodle in tow. Despite his colorful life, fears about Vajiralongkorn’s ascension to power run deeper including his personal relationship with ousted former prime minister and business tycoon Thaksin Shinawatra.

While Vajiralongkorn is the heir apparent, some hope his younger sister Princess Maha Chakri Sirindhorn (pictured left) might become queen. But women are currently banned from the throne. The crown prince now faces the challenge of leading a divided nation following the end of the longest reign in Thailand’s history.