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  #161  
Old 04-24-2018, 11:41 AM
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Quote:
Originally Posted by Mbruno View Post
Is Royal Dutch Shell listed under that name everywhere in the world ? That question matters to know whether the Royal House’s reply is deliberately deceptive or not.
It is listed on the Amsterdam and London Stock Exchanges as Shell.

Of course eventual properties can be given in ownership of a legal entity. Then, completely according truth, can be stated that the King has no intetests in Shell, KLM, Philips or other companies with the honorific "Koninklijke".
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  #162  
Old 04-24-2018, 01:50 PM
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That was indeed the more cryptic part for me too. Princesses Irene, Margriet and Christina & children have organized their money in the Lys fund, Stichting Royale, the Daffodil trust and the Crocus trust. It is possible that something simular happened for the main line.
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  #163  
Old 04-25-2018, 01:22 PM
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Originally Posted by Marengo View Post


That was indeed the more cryptic part for me too. Princesses Irene, Margriet and Christina & children have organized their money in the Lys fund, Stichting Royale, the Daffodil trust and the Crocus trust. It is possible that something simular happened for the main line.
It is also possible that the royals have no shares at all but invest in private equity funds like Waterland or Egeria, or private investment funds like Robeco High Yield Bonds, Van Kempen High Dividend, Insinger-De Beaufort Gold, etc. So no oldfashioned shares in KLM, Heineken or Unilever, but as participants in equity or investment funds they are indirect investors indeed.
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  #164  
Old 04-30-2018, 08:32 AM
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Originally Posted by Duc_et_Pair View Post
The almost 300 pages long report "Het inkomen van de Koning" (the King's income) is in Dutch, via this link.

A summary:

1795
The Orange-Nassaus were forced into exile after the shockwaves of the French Revolution also reached the United Provinces. The new "Batavian Republic" confisquated the palaces and domains Het Loo, Noordeinde and Huis ten Bosch and other domains and properties of the princely family.

1813
Prince Willem-Frederik of Orange-Nassau, the son of the last Stadtholder, became the Soeverein Vorst (Sovereign Prince) of the Netherlands.

1814
The "Constitutional Assembly" wanted to establish in the Constitution for the Kingdom of the Netherlands that the King should get an annual income of 1 million guilders "to maintain the resplendance of the Crown".

The Sovereign Prince however wanted to see an arrangement in which the domains, palaces and other properties which were confisquated in 1795 were involved.

For some reasons it was not practical to return the confisquated properties immediately and the "Constitutional Assembly" agreed that the King then would receive 1,5 million guilders as an annual income plus the right to request for a return of confisquated properties, which then would be re-calculated in the annual income.

(1,5 million guilders in 1814 contributes with 11,3 million Euro today - caculator).

1815
The Southern Netherlands and the Northern Netherlands were united. The King also became Grand-Duke of Luxembourg. Because of this the arrangement was raised to 2,4 million guilders. This corresponds with 17,7 million Euro today.

1822
King Willem I lifted the option for a return of the confisquated properties. The King accepted the return of certain domains in private ownership, as a result his annual state income was re-calculated with 500.000 guilders lower (to 1,9 million guilders). The income which these returned properties would generate formed the King's private income. The King used this new private income to invest heavily in new upcoming industries, at one side to improve the country's economy and at the other side in hoping to make good rendements on his investments.

1830
The rebellion of the Southern Netherlands led to the foundation of Belgium. (The Netherlands would only recognize the new state in 1839). By his own initiative the King lowered the annual income to 1,5 million guilders. This corresponds with 14 million Euro today).

1840
The Constitution was adapted after the definitive loss of the Southern Netherlands. The annual income of 1,5 million guilders, as set by the King in 1830, was now also written in the Constitution.

1848
The Constitution was completely changed: the absolutist monarchy disappeared, the parliamentary democracy arrived. The arrangements for the income of the King were drastically changed:
- the annual income was lowered from 1,5 million to 1 million guilders (this corresponds to 10,5 million Euro today)
- the King handed over the in 1822 returned domains to the State to establish the "Crown Domains"
- however no longer the factual owner, the King would enjoy the ownership rights of the Crown Domains
- the revenues from the Crown Domains would be seen as an additional income next to the annual State income (that is why the King accepted the lowering of annual the State income).
- at every accession of a new King, the States-General (Parliament) would establish a new annual income. This annual income then would remain unchanged for the whole Reign, to prevent annual (inconvenient) discussions in Parliament.

1849
Only one year after the drastic changes in the Constitution, King Willem II died. According to the new rules in the Constitution, the States-General had to establish an annual income for King Willem III. Because of the country's financial problems, the annual amount was set to 600.000 guilders, much lower than the 1 million guilders set a year earlier. This corresponds to 6,6 million Euro today.

1890
King Willem III died. The annual income for the new (underaged) Queen Wilhelmina remained unchanged on the annual amount which was set in 1849, namely 600.000 guilders a year.

1918
A new Constitution was needed because all adult citizens, both male and female, were given the right to vote and to be elected. The Government took this opportunity to propose change in the annual income. This was 600.000 Euro since 1849, meaning it has not been changed for almost 70 years (!).

600.000 million guilders in 1849 corresponds with 6,6 million Euro today.
600.000 million guilders in 1918 corresponds with 4 million Euro today.

So effectively in 1918 Queen Wilhelmina was 2,6 million poorer in annual purchasing power than her father King Willem III in 1849.

The Government proposed an annual amount of 1,2 million guilders for Queen Wilhelmina. And indeed, after a lot of discussion, the annual income for the Queen was set on 1,2 million guilders. This corresponds with 7,8 million Euro today).

1938
The Government found it no longer workable that the annual income of the King could only be vested at the start of each Reign. King Willem III started in 1849 and would reign for 41 years. In 1938 Queen Wilhelmina was in the 48th year of her Reign.The general standard of living had drastically improved, the annual inflation and pay rises were high. All this time it was impossible to adapt the income of the King. The Government proposed that no longer the income of the King was set by the start of each Reign but would be set via the annual State Budget. The States-General agreed.

1949
It became clear that the costs of the pensions of the retired staff were "eating" into the private fortune of the Queen. The States-General agreed with a proposal of the government to donate 7 million guilders as a contribution into a Foundation Pensions for the retired staff of the royal household, part of the general pension fund for the civic service. Queen Juliana would also donate into that Pension Fund. Argument: the staff of the royal household could not be considered to be "private personnel" as they were also subservient to a proper functioning of the office of state, the public function, which is the kingship. It was "undesirable" that the Queen had to pay from her own pocket for the functioning of an office of state.

1945-1960
The same argument for the retired staff of the royal household, was also used for the current staff, for the costs of transportation, for the security, for foreign travels, for the reception of (foreign) dignitaries. All these costs were subservient to a proper functioning of the office of state, the public function. Also here it was seen as "undesirable" that the Queen had to pay from her own pocket for the functioning of her official duties. So more and more costs were diverted to various departments like Foreign Affairs, Defence, the Interior, etc.

1952

The annual amount was raised from 1,2 million to 1,5 million guilders (this corresponds to 5,4 million Euro today).

1961
The annual amount was raised from 1,5 million to 2,5 million guilders (this corresponds to 7,2 million Euro today).

1966
The annual amount was raised from 2,5 million to 5,2 million guilders (this corresponds to 12,3 million Euro today).


1966-1972
In the 1960's the Netherlands had it's own Wirtschaftswunder, an economic boom. The wages and the prices spiralled. The Welfare Society made it's entrance. A giant gas field was found in the North-East of the Netherlands, resulting in an immense cashflow of billions.

The royal finances, despite the regular raises, lagged behind. More and more the Queen had to fill the gaps in her budget with private money. This was "undesireable" and also not sustainable as this would erode end exhaust the private wealth of the Queen. The Queen was no "ordinary Mrs" it was generally expected that she would live in a certain state, that "the resplendance of the Crown" was maintained.

1972
After a long process the current Financial Statute for the Royal House was approved:
- the King
- the future King
- the former King
(and their eventual spouses) receive an individual income from the state

These annual incomes have two components:
- a private income
- a functional income (to cover the costs for the execution of the royal dignity)

These annual incomes are indexed with the general pay rise for civil servants.

The costs of the palaces would remain with the State.

The State pays for the royal household, for the transportation, for the security, for representation, for communication: with other words, the whole execution of the royal function is financed by the State.
Thank you for completely summarizing the report, Duc. You always produce terrific summaries and translations.

I am struck by the Dutch governments' structured and open approach to their work on the monarchy's institutional arrangements. Whether the allocations of functional costs, the upcoming marriages with Charles-Hugues de Bourbon de Parme and Mabel Wisse Smit, or the future title of Princess Máxima, it appears all questions were methodically vetted and examined and the public was kept informed.
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  #165  
Old 06-14-2018, 01:04 AM
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The Dutch fintech company Adyen was introduced on the Amsterdam stock exchange AEX yesterday. The stock price doubled within a trading day.

Just before the company went to the stock exchange the princess sold stocks worth 43 million Euros. Her remaining portfolio of Adyen stock is now worth 160 million Euros.

Princess Mabel was one of the early investors in the company says the newspaper Algemeen Dagblad.

https://www.ad.nl/show/prinses-mabel...dyen~af14de74/
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  #166  
Old 06-15-2018, 02:32 AM
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several news outlets have been suggesting that it was the late prince Friso who invested in this particular company.

Yesterday the value of her Adyen stock was valued at 230 million Euros according to Business Insider.
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  #167  
Old 06-15-2018, 06:39 AM
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Originally Posted by Tatiana Maria View Post
Thank you for completely summarizing the report, Duc. You always produce terrific summaries and translations.

I am struck by the Dutch governments' structured and open approach to their work on the monarchy's institutional arrangements. Whether the allocations of functional costs, the upcoming marriages with Charles-Hugues de Bourbon de Parme and Mabel Wisse Smit, or the future title of Princess Máxima, it appears all questions were methodically vetted and examined and the public was kept informed.

There is one point I didn’t understand though. If the State pays directly for securiity, transportation, maintenance of the royal palaces, communication, and royal household staff, then what is the “ functional income” for ? Putting it in a different way, how does one differentiate “ private expenses” and “ functional expenses “ ?
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  #168  
Old Today, 05:23 AM
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Quote:
Originally Posted by Mbruno View Post
There is one point I didn’t understand though. If the State pays directly for securiity, transportation, maintenance of the royal palaces, communication, and royal household staff, then what is the “ functional income” for ? Putting it in a different way, how does one differentiate “ private expenses” and “ functional expenses “ ?
It is all here,the english version:

http://www.koninklijkhuis.nl
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  #169  
Old Today, 06:51 AM
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Originally Posted by lucien View Post
It is all here,the english version:

http://www.koninklijkhuis.nl
Let's rephrase it again: when Queen Máxima buys a new evening gown or a diamond necklace, is that considered a “ personal expense” or a “ functional expense” ?
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  #170  
Old Today, 07:18 AM
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Article 41 of the Constitution reads: "The King shall organise his Household, taking due account of the public interest".


This means that the King, Queen Máxima and Princess Beatrix have the freedom to spend the B-component ("functional costs') of their income to their wishes, as long as it fits in the "execution of the royal dignity".


All fractions in the Chamber accept that the King has to upheld a certain state ("to maintain the resplendance of the Crown") and that it comes with a price tag. For an example, the King decided to spend 1,2 million Euro to the restoration of the Glass State Coach (picture). A same amount is spent at the moment for the restoration of the Golden State Coach. It is in the King's freedom to spend this to these items. In his opinion these costs are justified and functional to his kingship.
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  #171  
Old Today, 08:16 AM
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Originally Posted by Mbruno View Post
Let,s rephrase it again: when Queen Máxima buys a new evening gown or a diamond necklace, is that consideted a “ personal expense” or a “ functional expense” ?
Let's refraise it again indeed..It Is All Here..Thank you.


www.koninklijkhuis.nl

and it is as Duc above explains as stated in the Dutch Constitution
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