What you all have to know is following information: ( you will all have to read it twice, because its rather complicated )
Prince France Josef, 9 th Prince of T & T passed the whole family fortune on to his unborn great grandchild to save death duty !
Why his great grandchild ?
In the early years of the federal republic of germany they had another inheritance law.
To save taxes it was possible to inherit things to unborn members of the family - sounds weird but is genious ( a bit risky also, cause no one knows, if children will be born). Inherit things to your great grandchild means saving taxes for a long ! time.
That means: In 1971 the 10 th Prince got control over the family wealth, but didn't had to pay any taxes at all, because he just did not INHERITED IT !!!!! ( Not again.: The heir of the 9 th Prince of T&T is the 12 th Prince of T&T, and not his own children).
He was not the owner but the main administrative authority of his own wealth!!! He was a usufructuary, a beneficiary so to say.
People would say: God, this guy gave his money away because he was to avaricous to pay taxes, but in fact he left his sons and grand sons full control at any time without loosing familys money. Genious!
The taxes of the inheritage of 1971 first had to be paid in the year someone became the 12 th Prince of T & T. This happened in 1990, when Alberts father Johannes, 11 th prince, died.
So in 1990 Albert become heir, the first "real" owner of the family wealth for nearly 20 years. But than they also had to pay full taxes: this is the reason why Gloria had to sell so much. ( That Albert was only 7, did not matter - children have to pay inheritage taxes in the moment they inherit, not when they turn 18.)
What happened to Gloria and her children ???
In German law is the law of the "legal portion": Your closes relatives have the right of a certain percentage of your wealth ( no matter if you like them or not !!). But this concerns ONLY the closes relatives. Of course you can make a testament, but whatever you write in it, the right of the legal portion comes first and then your last will.
So when Johannes died and Albert became 12 th Prince, they were no closes relatives any more ( all died) and so ONLY Albert inherited, because he was the only heir by the late prince testament. So Albert inherited 100 % of the T & T wealth.
( Here you see the second geniuos reason for this crazy rule: family wealth was kept together and not splitted by legal portion over the years.)
What happend to Johannes, Jo's father Karl August, Gloria and her daughters:
they got N O T H I N G of the T & T family wealth ( read it from my lips: Not a Penny !)
Unbelievable, but true !!!
What did they inherit ??? Oh, they got a bit ( bit more, we would say ; ))) )
Jo's father and Jo got some " pocket money" when they came to an certain age: some millions they could invest or do similar things with. This was ther personal wealth. There was also the inheritage of their wives and mothers.
Both were god businessmen and they increased they private fortune.
From this several million euro private fortune ( on which they all had to pay regular inheritage taxes, just by the way) Gloria and her daughters inherited.
So Gloria and her daughters only have some millions in deed .....no several hundred millions they normaly had to inherit, if their would have been a normal "row" of inheritages.
So they are all not as rich as we thought and Albert is richer than we can imagine.
This is why Gloria said in the interview: I don't have the same buget as the heir of T&T!
Source: the book " Gloria - a princess talks" ( Gloria: Die Fürstin - Im Gespräch mit Peter Seewald: Amazon.de: Gloria Fürstin von Thurn und Taxis: Bücher
I'm sure you all have to read this article twice, but it makes sense ; )
Nowadays in Germany is a new law of inheritance. I don't know if they can do that a second time.