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  #21  
Old 05-20-2018, 06:24 AM
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The Royal House has sold its entire holding in H&M in the family fund Gallierafonden. This is told by SR Ekonomiekot, which looked at statistics from Holdings.
In total, 24,000 shares were sold at SEK 4 million. Gallierafondn sold also their shares at the ICA Group and Billerud Korsnäs.
In February 2018, Gallierafonden increased its holding in Handelsbanken and now owns 37,000 shares in the bank. Gallierafonden also bought Arjo.
The royal family still owns 5,000 H&M shares through the company Gluonen AB (which is the joint company of Victoria, Carl Philip and Madeleine).
Kungen har sålt sitt H&M-innehav
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  #22  
Old 08-01-2018, 01:24 AM
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Crown Princess Victoria, Prince Carl Philip and Princess Madeleine make record gains in the Gluonen holding company, which invests in Swedish stock.
The company made a profit of just over SEK 3.2 million after tax last year.
- Last year's development was very good. We are pleased, says Jan Lindman, Ceo of Gluonen AB (also Treasurer of the Royal Court).
Gluonen AB is a common asset management company, but the owners are not just anyone.
- It is a Swedish stock company, which is mainly owned by Crown Princess Victoria, Prince Carl Philip and Princess Madeleine. The company has been in existence for more than 20 years and manages money to its owners by investing in, in essence, to Swedish shares, says Jan Lindman from the court, the ceo of the company.
2017 became a real success year, according to the recent annual report. The result after financial items was SEK 3,227,639. It was two million more than the year before, when the result remained at SEK 1,235,143.
- The company invests in Swedish shares, which is natural because it is managed by a Swedish royal family who believe in Sweden. And the Swedish Stock Exchange has gone very, very well over time. Then the company also went well and last year was no exception, says Jan Lindman.
This seems to be something of a record?
- It depends on how to measure it. When you read the annual report, it summarizes what profits we have made, but sometimes we also have latent gains with shares that have risen in value that we have not sold. Then it does not appear in the annual report. So the result may go a little up and down, but last year was very good.
Victoria, Carl Philip and Madeleine never pay any dividends. The money is reinvested in the company. Profit after tax was just over SEK 2.5 million. The free capital is now up to 17,426,283.
The royal children are going to take a part of the capital in the end, what is the plan?
- You can see that. This is a very long-term asset management that we devote ourselves to. It is based on the fact that the holdings will be long-term in the company and that they will not be liquidated or that any sums will be deducted from the company in the coming years. That is the starting point, says Jan Lindman.
Kungabarnens aktieklipp_ gör miljonsuccé i bolaget
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  #23  
Old 08-01-2018, 08:13 AM
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Originally Posted by LadyFinn View Post
Crown Princess Victoria, Prince Carl Philip and Princess Madeleine make record gains in the Gluonen holding company, which invests in Swedish stock.
The company made a profit of just over SEK 3.2 million after tax last year.
- Last year's development was very good. We are pleased, says Jan Lindman, Ceo of Gluonen AB (also Treasurer of the Royal Court).
Gluonen AB is a common asset management company, but the owners are not just anyone.
- It is a Swedish stock company, which is mainly owned by Crown Princess Victoria, Prince Carl Philip and Princess Madeleine. The company has been in existence for more than 20 years and manages money to its owners by investing in, in essence, to Swedish shares, says Jan Lindman from the court, the ceo of the company.
2017 became a real success year, according to the recent annual report. The result after financial items was SEK 3,227,639. It was two million more than the year before, when the result remained at SEK 1,235,143.
- The company invests in Swedish shares, which is natural because it is managed by a Swedish royal family who believe in Sweden. And the Swedish Stock Exchange has gone very, very well over time. Then the company also went well and last year was no exception, says Jan Lindman.
This seems to be something of a record?
- It depends on how to measure it. When you read the annual report, it summarizes what profits we have made, but sometimes we also have latent gains with shares that have risen in value that we have not sold. Then it does not appear in the annual report. So the result may go a little up and down, but last year was very good.
Victoria, Carl Philip and Madeleine never pay any dividends. The money is reinvested in the company. Profit after tax was just over SEK 2.5 million. The free capital is now up to 17,426,283.
The royal children are going to take a part of the capital in the end, what is the plan?
- You can see that. This is a very long-term asset management that we devote ourselves to. It is based on the fact that the holdings will be long-term in the company and that they will not be liquidated or that any sums will be deducted from the company in the coming years. That is the starting point, says Jan Lindman.
Kungabarnens aktieklipp_ gör miljonsuccé i bolaget
Interesting. What are the rules around insider trading and conflicts of interest in Sweden?
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  #24  
Old 08-01-2018, 08:36 AM
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Originally Posted by AdmirerUS View Post
Interesting. What are the rules around insider trading and conflicts of interest in Sweden?

I don't see any inherent potential for insider trading or conflict of interest when members of the Royal Family buy or sell shares in Swedish companies in normal stock market transactions. They are entitled to do it as any other person and are subject to the same stock market regulations as anybody else.


One thing that bothers me a little bit though is that the private finances of the Royal Family are managed by the Royal Court, whose staff are public employees paid out of state funds. I know that is (or may be) also the case in other countries, but I don't think it is quite right. What I mean is that it is OK for the Royal Court to have a Treasurer, paid out of public funds, to oversee the use of the Sovereign's grant for public purposes (maintenance of the royal residences, transportation, security, Court staff payroll, etc.), but that person should not be also the CEO of a private asset management company set up by the princes to invest their own money.



What do the Swedish posters think about that ?
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  #25  
Old 08-01-2018, 08:43 AM
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Maybe he is employed both by the Royal Court and the RF privately? If that's true and public officials, whom courtiers are, are paid for by the state to manage private finances of the Royals, this is outrageous.
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  #26  
Old 08-01-2018, 03:18 PM
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I don't see any inherent potential for insider trading or conflict of interest when members of the Royal Family buy or sell shares in Swedish companies in normal stock market transactions. They are entitled to do it as any other person and are subject to the same stock market regulations as anybody else.


One thing that bothers me a little bit though is that the private finances of the Royal Family are managed by the Royal Court, whose staff are public employees paid out of state funds. I know that is (or may be) also the case in other countries, but I don't think it is quite right. What I mean is that it is OK for the Royal Court to have a Treasurer, paid out of public funds, to oversee the use of the Sovereign's grant for public purposes (maintenance of the royal residences, transportation, security, Court staff payroll, etc.), but that person should not be also the CEO of a private asset management company set up by the princes to invest their own money.



What do the Swedish posters think about that ?
As a CEO of Gluonen AB (a limited company) I'm sure he receives a fee from the company for the work he does there.
As long as public funds aren't spent for his work at Gluonen I don't see a problem but, if so there's definitely a conflict of interest.
To my knowledge many high-ranking courtiers hold positions on different boards.
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  #27  
Old 08-01-2018, 03:38 PM
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Originally Posted by AdmirerUS View Post
Interesting. What are the rules around insider trading and conflicts of interest in Sweden?
Doesn't the Swedish Sovereign now have a purely ceremonial role with no executive functions? If so this is a) different from nearly all other European sovereigns who retain at least some symbolic executive function and b) makes it harder for the King and his family to use insider knowledge to help make a profit for themselves

and let's not forget c) this is an investment company for the Kings children, not the King
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  #28  
Old 08-25-2018, 04:41 AM
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The King's company continues to show red numbers.
The figures for the company Bensor for 2017 are rarely any uplifting readings for the king.
With the exception of 2013, Bensor has shown red numbers. The latest accounting is characterized by the transfer of 20 million capital to Stenhammar Godsförvaltning (Stenhammar Estate Management) and the value of the shares in the subsidiary has been reduced as much, reports Dagens Industri.
Bensor, owned 100 % by the king, was founded in 2005. The company is engaged in asset management "with investments in financial instruments and interest-bearing securities".
Bensor currently has assets of almost SEK 23.6 million and equity of just under 9.3 million, which means that assets have been halved over two years.
In addition to Stenhammar estate management, Solliden Palace is a subsidiary of Bensor.
According to Dagens Industri's figures, Solliden made a loss of SEK 1 million in 2017, despite the fact that sales increased.
The loss can be partly explained by that minor renovations have been carried out in the cafe and restaurant operations, although the Solliden operations have suffered losses previously.
- The company's result is negative over time. It does not have as strict commercial view of the subsidiaries as a common owner. We want to care for other values, court Treasurer Jan Lindman has previously commented on the losses.
The figures for Stenhammar's part are not ready, but here too, the King considers that other values ​​go beyond strict commercial profit.
- At Stenhammar we operate organic farming, forestry and managing real estate. The king wants to keep the property open to Flenborn's outdoor life. This means costs, says Lindman.
Kungens eget bolag fortsätter att gå back
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  #29  
Old 08-25-2018, 05:09 AM
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Originally Posted by kbk View Post
Maybe he is employed both by the Royal Court and the RF privately? If that's true and public officials, whom courtiers are, are paid for by the state to manage private finances of the Royals, this is outrageous.
It is not outrageous. The King is the King. He is not only the head of state, he is also a private citizen with private interests. In many monarchies private assets are used for the public office. Look at the Bernadotte and Galliera Foundations in Sweden. Or the 10 or so family foundations in the Netherlands.

As the Government is accountable for the inviolable King, it is in the general interest that for an example the state-paid King's Treasurer also handles the private finances of the King. It is the same as using the royal transportation for a public engagement but also when they have a weekend out. It is the same as being protected as HRH The Crown Princess during a visit to Karlskrona, but also when strolling in the French Alps during holidays. This sort of amorph blendings of state and private are unavoidable.
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  #30  
Old 08-25-2018, 06:55 AM
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Originally Posted by LadyFinn View Post
Expressen publishes salaries of swedish celebrities and well-known people in 2015.

Of the royal family members they publish the capital incomes, not salaries.
Carl XVI Gustaf, king 23 130 419 SEK
Carl Philip, prince 8 583 714 SEK
Madeleine, princess 2 365 891 SEK
Silvia, queen 2 031 402 SEK
Victoria, princess 2 238 488 SEK
Margareta Thorgren, director of the press department 1 306 500 SEK (salary)
Nya siffror_ Så mycket tjänade kändisarna 2015 _ Dina Pengar
What resulted in Prince Carl Philip receiving a capital income four times higher than the Crown Princess and Princess Madeleine in 2015?

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Originally Posted by loveSwede View Post
I suppose we live in a world today where some people feel because certain people are public figures that their expenses need to be justified and this may be true in the case if you supposedly live on tax payers money ( I am not Swedish but I have the most respect for Swedish people and their laws so I men nobody any offense by any means) but I do think that anything private where that money goes what they do it with it doesn't deserve to be looked at.


I don't understand the Appange issue lately that came up with the king's two youngest children. Was this topic even discussed 10-20 years ago? Probably not. Today seems far more focused on knowing more than maybe we are entitled to know.
Have any polls been done to show if the public believes Prince Carl Philip, Princess Madeleine, or, in the future, King Carl Gustaf's grandchildren aside from Princess Estelle should live on taxpayer money or earn their own?
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  #31  
Old 10-22-2018, 04:47 AM
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The royal children made a well timed stock sales, writes Dagens Industri.
The Royal Children's portfolio is called Gluonen and is mainly owned by Crown Princess Victoria, Prince Carl Philip and Princess Madeleine.
According to Dagens Industri, successful sales of shares were made in September. Then 2,700 shares were sold in the company Epiroc, writes the newspaper and refers to the holding company Holdings.
According to Di, sales represent a gain for the grandchildren, as the sale seems to have been made in September. When the stock was listed on the Stockholm Stock Exchange in June, the share cost SEK 84. In September, the value of the share was at most SEK 93, which would have given the royal children a win of SEK 114,300.
The portfolio is currently worth SEK 25.3 million and the largest ownerships are in Investor and Latour investment companies. Third place is the workshop Sandvik and fourth place in Volvo, Di writes.
The shares in Epiroc were only held for five months, but otherwise, the strategy for the portfolio is long-term, says director and treasurer of the court Jan Lindman, CEO of Gluonen. He manages the Royal Children's portfolio together with Chairman Fred Wennerholm and Financiers Fredrik Palmstierna and Richard Montgomery.
Even though the stock market is in an awkward time, Jan Lindman is not worried.
- If you can be long-term, you can stand up with some ups and downs during the trip. We basically have a positive view of the market and think that Swedish equities are long-term investments. In the long term, it should go up so we are not stressed by the recent downturns, he says to Dagens Industri.
He also says that the royal children have no opinion about which companies the portfolio manager is investing in. Sometimes the royal children receive information about how it goes, but the managers never ask advice from the royal children about how they invest in Gluonen.
- It has to do with the fact that the king in particular, but also other members of the royal family, are very well informed. In different contexts they have dialogues with the government or meet corporate executives and may receive information that is not public. Then we do not want to risk that our activities in these portfolios would be based on some insider information, he says to Di.
Kungabarnens senaste aktieklipp på börsen
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  #32  
Old 10-22-2018, 06:20 AM
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25,3 million Swedish Crowns is roughly 2,5 million Euro. Meaning a portfolio of roughly 800.000 Euro per child. That is a nice piggie bank, but not enough to finance a (royal) lifestyle from the annual yield based on that amount. But I understand it is a long term investment. Probably for their children. But with all the children, this fortune will water down, that is obvious.
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  #33  
Old 10-22-2018, 06:29 AM
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Originally Posted by Duc_et_Pair View Post
25,3 million Swedish Crowns is roughly 2,5 million Euro. Meaning a portfolio of roughly 800.000 Euro per child. That is a nice piggie bank, but not enough to finance a (royal) lifestyle from the annual yield based on that amount. But I understand it is a long term investment. Probably for their children. But with all the children, this fortune will water down, that is obvious.

It’s not enough to finance a royal lifestyle no, but it’s only one part of their fortunes and as you said a long term investment. I don’t have any numbers in my head but if I can recall correctly the value of the investments have grown considerably in the last few years.
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  #34  
Old 10-22-2018, 07:05 AM
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Originally Posted by JR76 View Post
It’s not enough to finance a royal lifestyle no, but it’s only one part of their fortunes and as you said a long term investment. I don’t have any numbers in my head but if I can recall correctly the value of the investments have grown considerably in the last few years.
Would their whole fortunes be enough for Prince Gabriel for example to maintain a royal lifestyle when he is an adult, provided that he neither earns his own money nor receives money from taxpayers?
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  #35  
Old 10-22-2018, 07:16 AM
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Would their whole fortunes be enough for Prince Gabriel for example to maintain a royal lifestyle when he is an adult, provided that he neither earns his own money nor receives money from taxpayers?

I did a quick google and according to some media outlets Carl Philip was taxed for a fortune around 30 million SEK five years ago. Added to that he does have an income from his businesses. The same articles states that The King has a private fortune of around 300 million SEK. I don’t have time to check more sources since I’m going grocery shopping, but if true I’d say Gabriel will be able to live quite comfortably.
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  #36  
Old 10-24-2018, 02:41 PM
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In addition that Victoria, Carl Philip and Madeleine are jointly the main owners of Gluonen, they all have their own portfolios.
According to Expressen the values of the royal family members' portfolios were in 2016
King Carl Gustaf SEK 56 971 370
Queen Silvia SEK 5 625 288
Crown princess Victoria SEK 14 855 583
Prince Daniel SEK 378 780
Prince Carl Philip SEK 12 049 853
Princess Sofia SEK O
Princess Madeleine SEK 16 202 163
Här är kungahusets stora aktievinnare – hela kungafamiljen

Dagens Industri Di wrote in April, that Daniel has earned several million SEK with his gym companies during the last years.
Prins Daniel inspirerar unga att starta eget

Daniel sold in August his gym chain Balance where he was the main owner, there was three more owners.
The gym chain had a book value of SEK 12,8 million, but in company's annual report it was said that "external stakeholders have bid for shares in the subsidiary which exceed their book value". So perhaps they got more than 12,8 million when they sold the chain.
Daniel is also joint (main) owner in Master Training. Master Training had a turnover of SEK 21.6 million last year and made a business profit of SEK 3.3 million. The three shareholders got SEK 3 million in dividends this year.
Prins Daniel säljer sin gymkedja till Sats
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  #37  
Old 01-26-2019, 02:11 AM
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New book about the fortune of the king and the royal family.

Quote:
The king is much richer than what he himself has previously stated in his declarations. His hidden fortune amounts to billions and consists of jewels, art and antiques. This is claimed by the former top official of the Ministry of Finance, economist Thomas Lyrevik, in the book "Den kungliga kleptokratin".
Paintings from artists such as Carl Larsson, Anders Zorn, Frans Hals, silver, porcelain, furniture and very exclusive and expensive jewelry.
In the Bernadotte family foundations, there are today hundreds of tons of items of value - and the king is the sole beneficiary.
Quote:
Lyrevik believes that the market value of the king's and royal family's total individual property and the assets of the family foundations amounts to a two-digit billion amount - just over 30 times more than what the king himself stated to the Tax Agency in 2006. And it is the king himself who owns the most.
Quote:
According to the author, the value of the royal jewelery is billions. These are owned by the royal family privately or by the Bernadotte family foundations.
He also writes that the family foundations' book collections, chandeliers, furniture, vehicles, sculptures, documents, silver and art are worth to billions.
He has gained the values ​​by studying in detail the inheritance of the royal family and the king over the years. It has been possible via estate inventories after, among other things, the king's grandfather Gustaf VI Adolf and the inheritance of Prince Bertil and the king's parents.
Lyrevik has also gone through the applications for tax exemptions that the king submitted to the government in the 1970s. It has then applied inheritance tax exemptions of assets in three family foundations and the Galliera commission with a large collection of art originally coming from Emperor Napoleon.
Quote:
But the real value is extremely much larger - almost invaluable, writes Lyrevik, who has also been in contact with auction companies, including Sotheby's, and studied how other royal objects have been sold for very big money.
Quote:
Expressen met the Marshal of the Realm Fredrik Wersäll, Treasurer Jan Lindman and director of the press department Margareta Thorgren. Everyone has read the book - but the king hasn't.
- We have advised him not to do so, says the Marshal of the Realm.
They think that there are personal attacks in the new book - but they also believe that in some parts it is ambitiously written.
Fredrik Wersäll also partly confirms Lyrevik's conclusions that the king is worth for multi-billion amounts.
- Yes, probably. We don't know that, there is no one who has made a real valuation and there has been no need to make a valuation. The reason for this is that it is part of the cultural heritage.
- There are no thoughts, at all, to dispel this. There are no thoughts on taking advantage of this value.
But if the monarchy were to be abolished, would the assets of the family foundations still accrue to the king and the royal family?
- We have no idea about that, says Wersäll.
You don't know that?
- No, how could we know it and I don't want to speculate on it.
Because the foundations have statutes?
- These personal property foundations. They have been legally reviewed by our lawyers and we have come to the conclusion that they are probably not foundations. Probably they are fideikomisser. This means that as long as the monarchy remains, they will not be able to dispersed legally. I cannot imagine that there would be a state power that would accept that a cultural heritage worth ten billion would be dissipated, says Wersäll.
But if one disregards the family foundations and only looks at the king's inherited wealth - even the billions of worth - then he has the right to sell items?
- I can't answer that, says Wersäll.
But who controls this?
- If it is his private, it is his private, but for us it is airy-fairy.
Why?
- Because it has never happened. They have had an ambition to never disperse the items, they are sufficiently wealthy anyway, Wersäll says and refers to the royal family's other assets.
The last year that Sweden had wealth tax was in 2006. That year, the king declared a fortune of just over SEK 293 million.
Has the King through foundations and that he has not updated the value of his previous inheritance escaped with millions of wealth in wealth tax?
- I can't imagine that there are tax reasons. I assume that with the auditors' reviews made, these were correct values ​​from a tax point of view. Then it can definitely be that property in practice can be much more valuable. We know that the total royal personal property is worth a lot of money, but that is part of the royal cultural heritage shown to the public.
Ny bok avslöjar kungens dolda miljardförmögenhet
Translation
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  #38  
Old 01-26-2019, 04:15 AM
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Originally Posted by LadyFinn View Post
New book about the fortune of the king and the royal family.










Ny bok avslöjar kungens dolda miljardförmögenhet
Translation
So how does the King distribute the allowances?
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  #39  
Old 01-26-2019, 05:01 AM
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Originally Posted by tommy100 View Post
Doesn't the Swedish Sovereign now have a purely ceremonial role with no executive functions? If so this is a) different from nearly all other European sovereigns who retain at least some symbolic executive function and b) makes it harder for the King and his family to use insider knowledge to help make a profit for themselves

and let's not forget c) this is an investment company for the Kings children, not the King



It is true that the King of Sweden no longer holds any executive power. However, the constitution still mandates that the King be kept informed by the prime minister about state affairs. Accordingly, not unlike in the UK or other countries, the King meets informally with the PM and other ministers individually on a regular basis. On top of that, the constitution also mandates that the King and the government convene as a formal Council of State "whenever required". Under current practice, such Councils of State under the chaimanship of the King and with multiple ministers in attendance are normally held four times a year (i.e. every three months or so).


Finally, the King is also privy to considerable confidential information regarding foreign policy in particular. Not only is the King briefed by the Foreign Ministry before any state or official visit to or from a foreign country, but also, under the constitution, he serves as chair of the Advisory Council on Foreign Affairs, which is a committee of MPs, including the Speaker and members of the opposition, which the government is required to keep informed about foreign policy and consult with before any major foreign policy decision is made or any international agreement is finalized.



So, in summary, although the King is not formally part of the government, I think it is fair to say that, under current constitutional arrangements, he still has access to far more potential "inside information" than an ordinary private citizen.
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  #40  
Old 01-26-2019, 05:49 AM
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Originally Posted by LadyFinn View Post
New book about the fortune of the king and the royal family.










Ny bok avslöjar kungens dolda miljardförmögenhet
Translation



Items that are held in trust by the family foundations should not be counted in the King's private fortune as they are not owned by him privately. The book is misleading then IMHO.
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