What does King Constantine do?

[mashed potatoes]

I'm just wondering what King Constantine does for a living?
I know he has an office in London but where does he get the money to support himself and his children and their education? How does he earn money? Does he get allowances from other families or people?

 

[Stefanie]

He was king from 1964 until 1974. The Greek royal family had, like most royal families, some fortune and I think when it became more and more clear that he has to flee the country he probably transferred some of the fortune to Switzerland or so.A few years ago he accepted to get some money back from the Greek government (about 12 million Euros - he originally had fought at the European court to get 120 million! Euros....) and as a return service he renounced to be the owner of Tatoi palace and Mon Repos f.i. (but just because he couldn´t affort to keep them in shape anyway....) The money is managed by his sons (who both seem to have some university degree in business f.i.) who founded the Anna-Maria-Foundation f.i. (which is in my opinion just a trick to keep the money in the family - the only user of the foundation is the greek royal family itself....) Set up foundations is just a tax-trick...

 

[kelly9480]

Constantine receives gifts (of about 1 million pounds per year) from wealthy Greeks.

 

[kelly9480]

He had some failed investments in the early 1980s that wiped out a lot of his portfolio and wealth. I remember reading about a car dealership, but have no more information about it.

 

[BeatrixFan]

Wasn't he a Lloyds name? I know that Camilla was and lost a small fortune. I have a feeling Constantine was on the list too.

 

[Roxsteve]

Shameful if true!

 

[fanletizia]

King Constantine and Princess Irene in Trauerfeier Hannover

http://www.theroyalforums.com/forums...d=1#post431781

 

[ChevalieurduCiel]

Happy Name's Day for Princes Irene of Greece

 

[Bella]

I also think his wife, Queen Anne Marie, came into the marriage w a "dowry", being a Danish princess herself. I read someplace that she has a personal fortune. Also, I believe he gets "help" from his British cousins and close acquaintances.

 

[kelly9480]

He doesn't get any money from the Windsors at all. EIIR doesn't even like to help out her British relatives -- look at how her sister's children are selling off family heirlooms to meet death taxes.

He gets all the money he has from the wealthy Greek shipping families. IIRC, the Greeks bought his house in London, and he gets a really nice Christmas present (a series of envelopes stuffed with cash) from the Greeks.

Anne-Marie, like Constantine, had a trust fund. But seeing as to how her sister Margrethe has less than $15 million, I'm not thinking Anne-Marie's trust fund is very large. The money from Constantine's trust fund was what was decimated from the bad investments.

There's nothing shameful about having been a Lloyd's name. If anything, it should be seen as a source of pride because it does carry with it a certian social caché.

 

[Harry's polo shirt]

I thought they were billionairs... I never thought to think of his as a person who accepted hand outs and charity. I understand the foundation thing, but surviving off of others..I never imagined.

 

[kelly9480]

The Greek royals have never been very wealthy compared to other royal houses. They spring from the youngest son of a not-wealthy Danish king, and depleted their incomes during their exiles.

The Anne-Marie Foundation is not designed for them to hide their money. It's used by the family to fund their charitable donations in Greece. The Greek government probably audits it all the time, just hoping they do something criminal.

 

[Bella]

Can someone please tell me what being a Lloyds name means?

 

[kelly9480]

Lloyd's of London is an insurance market that operates by having wealthy backers (Names) insure with their private fortunes the organization's insurance risks. For example, if a ship sets sail with valuable cargo, it needs insurance. Lloyd's insures the ship and its cargo by having wealthy people sign their Names and take a share of the risk, say, each person would chip in 1% of the cost of the lost cargo if something went wrong. Camilla was one of those Names, and when Lloyd's was hit by high insurance payouts in the late-80s, early 90s, she lost pretty much all of her money. The very fact that someone is wealthy enough to be a Name is a sign of status because the Names stand the risk of losing everything if something goes wrong.

 

[iannis]

So, that means that Constantine could afford to pay for 1% of these types of insurances? He is much more wealthy than I thought..

Lloyd's of London is an insurance market that operates by having wealthy backers (Names) insure with their private fortunes the organization's insurance risks. For example, if a ship sets sail with valuable cargo, it needs insurance. Lloyd's insures the ship and its cargo by having wealthy people sign their Names and take a share of the risk, say, each person would chip in 1% of the cost of the lost cargo if something went wrong. Camilla was one of those Names, and when Lloyd's was hit by high insurance payouts in the late-80s, early 90s, she lost pretty much all of her money. The very fact that someone is wealthy enough to be a Name is a sign of status because the Names stand the risk of losing everything if something goes wrong.

 

[crisiñaki]

So, that means that Constantine could afford to pay for 1% of these types of insurances? He is much more wealthy than I thought..

To be near anything Lloyds you gotta be "filthy" rich, it's something the normal John Doe would never afford in his whole life; so yes, if Constantine is with Lloyds, then he's WAY richer than anyone imagined (myself included)

 

[kelly9480]

So, that means that Constantine could afford to pay for 1% of these types of insurances? He is much more wealthy than I thought..

No. There's nothing to suggest Constantine was ever a Name. He wouldn't have had the money to be one after he depleted his trust funds in the early 1980s on his bad investments. The Greeks who support him would have never backed him as a Name.

1% was just a round figure. It could be much more than that -- and much less.

A lot of people invested their savings as Names because if nothing went wrong, they stood to gain several times what they put in. Camilla was one of those people, and when it went wrong, those Names lost heavily.

 

[kelly9480]

To be near anything Lloyds you gotta be "filthy" rich, it's something the normal John Doe would never afford in his whole life; so yes, if Constantine is with Lloyds, then he's WAY richer than anyone imagined (myself included)

Not necessarily filthy rich. Camilla wasn't filthy rich (she may have had a few million) and she was a Name. Obviously you can't be middle class or anything, but you certainly don't have to be a billionaire.

 

[Bella]

Thank you for the info. I know of Lloyds but I never knew that they received backing from private (wealthy) individuals. Too bad for Camilla. And for Constantine as well, if he lost his $$$.

 

[Eliza]

Can we safely say King Constantine is rich but not as rich as compared to other royal families? But certainly rich enough to afford himself and his family a very comfortable lifestyle!

And he has an office - what does he actually do, aside frm his daily correspondences with Greek people who write to him and the Anna-Marie Foundation?

 

[kelly9480]

That's just it, Constantine's not really rich. He can't afford himself and his family anything. He's completely dependent on handouts from other people to fund his lifestyle. Even though he gets 1 million pounds a year, he employs a household staff and has a wife and two children at home to pay for. His lifestyle is certainly comfortable, but if those Greeks should stop giving him anything, he wouldn't have nearly the lifestyle he enjoys now.

He seems to spend a lot of time with the IOC and the Round Square Program, plus the Hellenic College of London. I think he spends most of time with family and friends, though. He certainly doesn't work like you or I would consider working.

 

[iannis]

And he has an office - what does he actually do, aside frm his daily correspondences with Greek people who write to him and the Anna-Marie Foundation?

Actually, nothing. I have seen Constantine answering a journalist's question on where he gets money from and he referred to his office, which can hardly be a money resource, since what's done there is just communicating with Greek people who still contact him and I suppose his PR. I don't think that the Anna Maria foundation gets him any money either.

 

[Daytona]

I have heard rumors that he owns a shopping mall in Bulgaria(?) which is old(19th or 20th century art deco building).I also have heard that his rich greek friends (shipping tycoons) pay millions of euros per year.He has received
a wide education like law when he was being brought up to be a King.He has a satisfactory schedule according to his web site with the sailling commity where he is a member,with the olymbic commity.I dont think he gets borred!Lets not forget that he was the head of a state in a royal regime.

 

[lord_rankin]

I am almost positive that King Constantine and his wife at one point had a grace and favour house from QEII. They are Prince Phillips family after all.

 

[kelly9480]

They never had a grace and favour residence from EIIR. They lived in Rome, then Denmark, and then lived in a house provided by the wealthy Greeks or the Shah (who supported them until he was overthrown) before they bought their current home. EIIR has never given them a residence.

 

[BeatrixFan]

Kelly9480, in the 80s, an MP did raise a question asking why King Constantine had a grace and favour residence in the grounds of Windsor Castle. I don't know what the answer was but they did have a grace and favour residence from the Queen if only for a very short space of time.

 

[kelly9480]

Was it confirmed to be grace and favour, though? MPs accused Marina Mowatt of living in grace and favour accomodation in 2002, until it was proven that she paid rent to the Crown Estates. If Constantine lived in grace and favour accomodation, he wouldn't have had to leave -- despite MP anger.

In the 1980s, they already had their house in London. Why would they have had a second house in Windsor? Neither Constantine nor Anne-Marie enjoy the country pursuits (except shooting, which isn't done at Windsor and makes MC's dad rather convenient).

 

[Bella]

Hasn't shooting been banned in England? I recently saw something stating that Mr. Miller was out of luck as he bought a hunting lodge in Gunnerside and now they have outlawed the "sport". Does anyone know if the Millers and King Constantine and Queen Anne Marie live near each other? They seem to enjoy each other's company and are often seen vacationing together.

 

[kelly9480]

Hunting (meaning fox-hunting) was banned, but shooting (birds, deer, etc) is still acceptable. Gunnerside has really good shooting. I've never heard anything about MC's parents having a home in London, but I'd be surprised if they didn't.

 

[BeatrixFan]

It was a grace and favour and Constantine offered to leave and move to a house in Hampstead where they live now, so they didn't own two houses, just the one which they went to after leaving Windsor to avoid the Queen being furthur criticised. She was already being baited over income tax etc.

Fox hunting is indeed banned, however it's widely accepted that it'll make a return. Shooting and fishing, stalking etc are all still legal.