Business Insider recently published a ranking of the wealth of royal families, a ranking which has been dismissed by the Grand Ducal Court.

We reported on Business Insider's ranking last week, which classified European royal families by wealth.

According to the Business Insider ranking, Luxembourg and Liechtenstein's royal families are the richest in Europe, with fortunes estimated at a respective €3.55 billion and €4.4 billion.

However, on Thursday the Grand Ducal Court dismissed those numbers with a short disclaimer. The disclaimer described the figures relating to the Grand Ducal family's fortune as 'pure fantasy'. "In reality, the fortune amounts to only a tiny percentage of the figures published," the statement concluded.