Wealth of the Spanish Royals

[hrhcp]

http://www.nzz.ch/2003/11/16/wi/page-article97JOM.html

Von wegen verarmter Adel! Mit dem Handel von Erdöl ... haben es einige Königshäuser geschafft, ihren Reichtum zu erhalten oder gar zu mehren. Von Dominik Flammer

Die spanische Fernsehjournalistin Letizia Ortiz Rocasolano, künftige Königin von Spanien, wird im Gegensatz zu ihren Schwiegereltern die Hochzeitsreise nicht mit geliehenem Geld finanzieren müssen. Denn obwohl ihr Schwiegervater ohne Vermögen an die Macht gekommen ist, hat König Juan Carlos von Spanien in den Jahren seit dem Tod des Diktators Francisco Franco im Jahr 1975 ein Milliardenvermögen angehäuft. Ein Vermögen, das dereinst Letizias künftigem Mann, Kronprinz Felipe, zufallen wird.
Starthilfe aus Arabien

Statt sich in die Geschichte des verarmten Adels einzufügen, hat der spanische König die Fäden für sein künftiges Vermögen geschickt geknüpft. Dass ihm dabei nicht nur Generalissimo Franco mit einem stattlichen Treuhandvermögen geholfen hat, sondern auch das saudische Königshaus, ist erst seit wenigen Monaten bekannt. Gelten Kritik oder Hintergrundartikel über das Königshaus in der spanischen Presse noch immer als tabu, haben Biografen in jüngster Zeit gegen den heftigen Widerstand der Königstreuen einiges ans Licht gezerrt. Der spanische Journalist Jesús Cacho etwa hat in seinem Bestseller «El negocio de la libertad» nachgezeichnet, dass der spanische König den Grundstock seines Vermögens seinen Beziehungen zu den Ölmonarchien Arabiens verdankt.

So griff der saudische König Fahd dem jungen Monarchen nach dem Tod Francos mit einem Darlehen von umgerechnet rund 100 Millionen Euro unter die Arme, einen Betrag in derselben Höhe soll der König zudem von einer kuwaitischen Ölgesellschaft erhalten haben. Ob Juan Carlos das Geld je zurückzahlen musste, wird in Spanien bezweifelt. Denn bis heute, so schreibt auch der englische Historiker und Spanien-Experte Paul Preston, verdient der König an den Öllieferungen an Spanien mit, die von den Saudis dominiert werden. Als Indiz für die guten Beziehungen des Königs zu den Märkten gilt auch seine Freundschaft zum Zuger Rohwarenhändler Marc Rich. Juan Carlos galt als treibende Kraft hinter dem Gesuch an den ehemaligen Präsidenten Bill Clinton, in dem die Begnadigung des wegen Steuerbetrugs in den USA gesuchten Rich gefordert wurde.

Mit geschätzten 1,7 Milliarden Euro Vermögen gehört Juan Carlos zu den reichsten unter den europäischen Herrschern. Dass er allerdings höchstens über ein Viertel dieses Vermögens verfügen kann, da der Rest in den unverkäuflichen und faktisch dem spanischen Staat unterstellten Palästen und Kunstsammlungen steckt, mag für das gemeine Fussvolk bei Vermögenswerten in dieser Höhe eine Nebensächlichkeit sein.

Briefly ....
King Juan Carlos was dirt poor when he ascended to the throne. Instead of delving into his ancestors history, he has - through the generosity of others - been able to enrich himself.

He is said to have obtained 100 million Euro's from the Saudi King Fahd, and the same amount from a Kuwaiti source. It is thought that the principle will not have to be repaid. It is said he receives a royalty on oil products that enter Spain from Saudi Arabia.
He has also been enriched by Marc Rich, and was apparently instrumental in getting a pardon from Bill Clinton.
His wealth today is estimated as 1.7 billion Euro's.
(Not a bad return).

[Brian_Ahern]

The TV show "Young, Rich and..." on the WE station here in the States did a "Young, Rich and Royal" show about a year ago in which the narrator stated that the King of Spain's income is $8 million a year. I'm not sure how trustworthy the show's researchers are. Other estimates of the family's allowance and wealth are much more paltry, and JC is often referred to as "the worst-paid monarch in Europe" (for some reason, I don't think he's the only one I've heard referred to that way). I wonder what the truth is. I'm always fascinated by royal wealth, largely because it's so unpredictable.

[lula]

I am going to try to explain it to you. I believe that this number refers what the Spanish State gives every year to the King for the expenses of the Headquarters of the State, it is not a money that of to the King but with he has to support the expenses of the Royal Family (in Spain the Royal Family only they are the Kings, the Princes and the Infantas, and they are those who develop official activities),and also the persons who are employed at the House of the King.

I imagine that the King has a personal wealth, with something that he could have inherited and that he has hoarded in the last 30 years, but he cannot be not much less comparable to the wealths of other monarchies. The family of the King lived in the exile for a long time, and when they went away they did not take to themselves almost anything, lived in a humble enough way to be members of the royalty (that enclosed the Queen Victoria Eugenia had to use some of her jewels.)
All the palaces that pertenecian to the monarchy form a part of an institution that is called A National wealth, the Royal Family can enjoy them but they are not of their property. National wealth takes charge of the expenses of the palaces (as the Zarzuela or the House of the Prince), the rest of palaces scarcely are in use (the Real Palace in the big receipts and the palace of el Pardo one like residence of foreign Chiefs of state when they are in Spain), but many of them can be visited as museums

[Brian_Ahern]

Thank you, Lula:) .
What you say seems to confirm my impression that they are not very rich at all. Though, of course, the King would have friends in high places which can help, in the way of investment ops and financial advice. It's speculated that ex-King Constantine of the Hellenes is helped out by various rich Greek businessmen who get a kick out of being tight with their former monarch. Once again, it's always hard to get a sense of royal wealth; these people seem to like to cover their tracks pretty closely, which makes sense.

[Elsa M.]

The February 2003 edition of the magazine Euro Business publishes the list of the 300 richest people of Europe, specifying their patrimony, company and sector.

According to this publication, the number 112 of the rank is shared ex aequo by the Italian chocolate businessman, Michel Ferrero, and king Juan Carlos I, with a patrimony estimated in 1.700.000.000 € (280.000.000.000 pesetas). According to Euro Business, “the richness of King Juan Carlos is born from the funds that were sent abroad, during Franquism, by the monarchists who were then preparing the democratic restoration. Few Spaniards know how really rich is the king of Spain", who possesses profits, collections of art and vast properties all over Europe.

Besides that, the magazine continues saying: "And after all, he is the man who works with a mere budget of 7.000.000 €, just a seventh part of the income offered to the British queen", with which he has to cover all the expenses of the Royal House.

[Brian_Ahern]

Wow!!

This is a very well-kept secret indeed, if it's true. Thanks for posting it. I could see why they would want to keep it a secret.

[Elsa M.]

I think that, if this information was accurate (since I can't assure its veracity), KJC's fortune would be pretty much due to a remarkable capacity of management (the same one that allows him to manage the whole Royal House with just a seventh part of the income that is given to Queen Elisabeth II…), by making the right investments and thus multiplying the relatively small funds he had as a starting point. As you said, the King certainly has friends, who can help him in the way of financial advice... But well, we'll never know the real dimension of his fortune...

[rchainho]

According to a member of google, here you have his wealth.

It was increasing year after year. He began, in 1980, with 200 million of Pesetas and now is:

2002- 6.980.090 €
2003- 7.224.390 €

2004- 7.513.370 €

2005- 7.776.340 €

[Anna_R]

Originally Posted by rchainho

According to a member of google, here you have his wealth.

Could you please provide the a link to the source of this information?

Anna_R
The Royal Forums Super Moderator

[rchainho]

Google link and "presupuestos del estado 2005"

[Anna_R]

Originally Posted by rchainho

Google link and "presupuestos del estado 2005"

Which link? And "presupuestos del estado 2005" is a book or a site? If it's the latter, please provide the link.

Anna_R
The Royal Forums Super Moderator

[rchainho]

from the goverment (www.la-moncloa.es) and other links, such as:

http://www.conc.es/areapublica/estado2002.htm
http://www.datadiar.com/actual/frpl2003.htm
www.igae.minhac.es/presup/PGE2004Ley/Cuerpo.htm
http://portal.minhac.es/NR/exeres/D2...,frameless.htm

[rchainho]

2002- 6.980.090 €
2003- 7.224.390 €

2004- 7.513.370 €

2005- 7.776.340 €

Do you know how much money do they earn for 2006 in the "presupuesto"? I tried to see in www.la-moncloa.es/ but nothing yet.

[lula]

Originally Posted by rchainho

Do you know how much money do they earn for 2006 in the "presupuesto"? I tried to see in www.la-moncloa.es/ but nothing yet.

The official budgets of the State still have not been approved. Besides, I imagine that the budget is the same that in the last years, has not been increased, the budget only has grown in proportional relation with the economy of the country, how all the budgets of the State grow. The item of the Royal House I believe that it is an invariable percentage, and the quantity of money increases or diminishes dependiedo of the economy of the country.

[rchainho]

thanks for the explanation lula. :)

[branchg]

I doubt Juan Carlos is very wealthy in terms of his personal fortune. While in exile, Queen Ena sold a substantial number of her jewels to maintain her Household in Switzerland and Alfonso XIII is widely reported to have spent whatever monies he had deposited abroad. In later years, Franco did ensure the Count of Barcelona's Household had sufficient money to live comfortably, but not lavishly. Juan Carlos was supported by the State once Franco decided to restore the monarchy and train him to be his successor.

After 1975, I'm sure Franco left Juan Carlos sufficient money to maintain a proper Household, but not much more.

[rchainho]

http://www.eluniversal.com.mx/estilos/45627.html

How much costs a King?

Not less of the equivalent one to 250 thousand pesos daily, without including the maintenance of its palaces, the own and familiar security, the cost of its trips and other "services" of State

Ennio Mena
The Universal One
06 of November of 2005

Isabel II of England, Carlos Gustavo of Sweden, Beatriz of Holland, Juan European Carlos of Spain and other monarchs enjoys generous budgets of the national State Treasury that allow them to live like authentic "kings".

Per years, the real expenses were state secrets. They never left the palaciegos walls, but, thanks to the "democratic airs" that have shaken almost to all the thrones of Europe, or are possible knowledge, at least, their amount or quantity, although the monarchs still have the privilege of not having the constitutional obligation to render accounts of the "exercise" of the assigned games.


The British monarchy, most expensive

After several decades to occupy the throne of the United Kingdom, Isabel II of England allowed in 2001 that occurred to know the expenses of British Corona. In general, it left was disclosed that that year had received in pounds sterling the equivalent one to 56,3 million euros (746 million weights). That is, nothing less than 154 thousand daily euros (about 2 million weights).
In the removal of the games, it calls the attention that have been spent 9,4 million euros (almost 125 million weights in lists) 7,7 million euros (102 million weights) in trips and a million (more than 13 million) by telephone accounts; (273 thousand pesos) for day in calls, mainly by cellular apparatuses. The heir of the British throne, prince Carlos, perceived 14,2 million euros (188 million weights).

[rchainho]

http://www.eluniversal.com.mx/estilos/45630.html

Pure gold royalty?

In 2004, the crown of Holland received from the State Treasury more than 95 million weights for the expenses strictly related to the real family, of who a little more than half were for the Beatriz sovereign

The Universal One
06 of November of 2005

Of course, in that time the expenses were not included that at the present time are assigned to Stretcher, the today handcuffs of the future British king. To the date they have not occurred to know.



"democratic" sovereign

Monarch of Sweden from the 19 of September of 1973 and to the 27 years of age, king Carlos Gustavo inherited the throne to the death of his Gustavo grandfathers I SAW, since his father, prince Gustavo Adolph, had died in a plane crash in 1947.
The new king gained fame of "democrat" when in 1976 it was the first member of the contemporary world-wide nobility in marrying with a plebian, the stewardess and interpreter Silvia Renata Sommerlath, been born in Heidelberg in 1943 and daughter of a German industralist and a Brazilian, to whom had known in the Olympic Games of Munich of 1972 and that acquired the queen title.
Nevertheless, by information of the Swedish signallers one knows that king Carlos Gustavo puts itself of a terrible humor whenever he asks himself to him on the justifications of the real budgets in the national State Treasury.
In 2004, the amount received by Swedish Corona was of 20,5 million euros (272 million weights), almost half, 10,3 million (136 million), was for the maintenance of the palaces, the security and the official guard of the real people and trips; 3.2 (42 million weights were for the personal use of the king. The rest of that money goes for the support of the real family formed by the three children of the real pair and the sisters of the sovereign, but without specifying the amounts.
The heirs are Victory Ingrid Alicia Desiré, princess of Sweden, Duchess of Vastergötland and heiress to the throne in agreement with the Successory Order of the 1 of January of 1980, that abolished the Law Sálica; Carlos Felipe Bertil, prince of Sweden and Duke of Värmland; and Magdalena Teresa Amelia Josefina, princess of Sweden and Duchess of Hälsingland and Gästrikland. The older sisters of the king are princess Margarita (been born in 1934), Birgitta (1937), Desiré (1938) and Cristina (1943).


Governed by queens

Queen Beatriz, of the Netherlands, occupies the throne from the 30 of April of 1980 when her mother, the Julian queen, abdicated to her favor, after 32 years of reign.
With the ascent of the princess a real mark of century XX settled down: the new Dutch sovereign became the third consecutive one from the ascent to the throne of her Guillermina grandmother in 1890.
With the coronation, the parents of Bernardine Julian Beatriz and received until the day of their death an amount nonspecified of several thousands of annual euros.
The old queen died the 20 of March of 2004 to the venerable age of 94 years, because of a pulmonary infection. Prince Bernardo passed away the 1 of December of the same year, at the age of 93 years because of a lung cancer. With these familiar absences, queen Beatriz had more of a million euros (more than 13 million weights) assigning them to other members of the real family.
When marrying, the 10 of March of 1966 with princess Beatriz, the German aristocrat Claus Jorge Guillermo Otto Federico Geert became prince of Holland, with the right to enjoy a substantial rent annual. This one interrupted the 6 of October of 2002, when the prince passed away to the 76 years in a hospital of Amsterdam, as a result of one neumonía and the disease of Parkinson.
The inheriting prince, Guillermo Alexander (married with the Argentinean Maxima Zorreguieta), received almost 13 million weights, whereas her wife had other 820 thousand euros (11 million weights). Of the rest of the money the trustworthy news is not had on its whereabouts.


The real house of Spain

Proclaimed king of Spain the 22 of November of 1975, Juan Carlos I has been a determining protagonist of the contemporary Hispanic life, when governing a parliamentary monarchy.
Between his mútiples constitutional attributions of king emphasize the one to symbolize the unit of the Spanish State and the one to arbitrate and to moderate the operation of the instuciones.