Wealth and Finances of the Spanish Royal Family

[Susan D]

I am surprised that Don Felipe does not own shares/stock.

[An Ard Ri]

Its strange that the king and family don't have a holiday home of their own and all properties are owned by the state!

[Blog Real]

Originally Posted by An Ard Ri

Its strange that the king and family don't have a holiday home of their own and all properties are owned by the state!

I think it's weird too, but it's the reality. They could have a holiday home, but King Juan Carlos decided that all the properties would go to the National Heritage, the institution that manages the properties that are at the disposal of the royal family.
King Juan Carlos, as far as we know, never acquired properties either in Spain or abroad.

[An Ard Ri]

Originally Posted by Blog Real

King Juan Carlos, as far as we know, never acquired properties either in Spain or abroad.

That we know of

Its was rumoured that queen Sofia had or still has a pad in London.

[Prinsara]

Originally Posted by tommy100

I've always thought it prudent for RFs to have some property of their own... just in case

Yeah. I suppose it is poignant because should Spain decide they don't want them one day, those 2.5 million Euros, liquified, will buy a nice little house in a not-terribly posh area somewhere, probably less fancy than Uncle Tino and Auntie Anne-Marie had. And that is about it.

Perhaps this is partly Felipe's declaration of determination to (continue being) a damn good king. He literally cannot afford not to be.

[Mbruno]

Originally Posted by Prinsara

Yeah. I suppose it is poignant because should Spain decide they don't want them one day, those 2.5 million Euros, liquified, will buy a nice little house in a not-terribly posh area somewhere, probably less fancy than Uncle Tino and Auntie Anne-Marie had. And that is about it.

Perhaps this is partly Felipe's declaration of determination to (continue being) a damn good king. He literally cannot afford not to be.

Yet we keep hearing claims on the internet, including in this forum occasionally, that King Juan Carlos has a personal fortune of more than one billion euros (which I don't believe to be true BTW).

To make things worse, King Felipe VI was forced to officially give up any inheritance from his father. Hopefully some assets were transferred to Queen Sofia, so the King can still retain part of his inheritance rights like any normal citizen.

[Prinsara]

I don't see why Felipe has to take anything from JC, especially if it's suspicious money that will just cause more problems. His determination to be (basically) upper middle-class is not necessarily a bad thing for a monarch...just different. If it helps him be a better sovereign and lets Leonor take the throne with a smoother transition, more power to him.

[Mbruno]

Originally Posted by Prinsara

I don't see why Felipe has to take anything from JC, especially if it's suspicious money that will just cause more problems. His determination to be (basically) upper middle-class is not necessarily a bad thing for a monarch...just different. If it helps him be a better sovereign and lets Leonor take the throne with a smoother transition, more power to him.

The problem is that, at this point, it may be impossible to separate "suspicious" from "unsuspicious" money, so Felipe had to give everything up, being effectively disinherited, which I think is unfair. But I assume arrangements were made for him to keep at least jewelry and similar family heirlooms.

[Prinsara]

Originally Posted by Mbruno

The problem is that, at this point, it may be impossible to separate "suspicious" from "unsuspicious" money, so Felipe had to give everything up, being effectively disinherited, which I think is unfair. But I assume arrangements were made for him to keep at least royal jewels and similar family heirlooms.

Well his other inheritance from JC was being the King of Spain, so he didn't exactly get nothing. If he wants to keep that (and apparently he does), he is apparently quite at peace with giving up the rest or any prospect of whatever it could buy him. It seems to have been the right move.

[Mbruno]

Originally Posted by Blog Real

It is true. All royal families seem to have private homes. But the Spanish Royal Family seems not to have.

The royal sites that are now under the administration of Patrimonio Nacional used to be the Patrimonio de la Corona prior to the establishment of the Second Republic. They were inalienable and not personally owned by the Kings of Spain, but had a legal status that was similar to the Crown Estate in the UK, being held in trust by the King in Right of the Crown. Following the proclamation of the Republic, the Crown Estate was formally nationalized and became State property, a legal status which was maintained under Franco and, later, also under the restored monarchy (keep in mind that, unlike in the UK, the constitution of 1978 formally separated the Crown from the State in Spain).

Prior to 1931, I understand that the Crown Estate was managed directly by the Royal Household (I would appreciate if the Spanish posters could confirm that), but that is no longer the case with Patrimonio Nacional, which is an independent state agency under the Spanish government. In any case, I would imagine that, since Spain historically had a large number of royal residences in the Patrimonio de la Corona at the disposal of the Royal Family, there wasn't much motivation for the Royal Family to acquire a private estate in Spain itself but I would appreciate comments from more knowledgeable members (I know for example that Don Juan, Count of Barcelona, sold during the interregnum the last private residences that were owned by his father in Spain before 1931).

Here is also a link to the law on the Patrimonio Nacional which provides more information on the current administration of the former Crown Estate.

[Blog Real]

The Council of Ministers has approved a royal decree reforming the structure and functioning of the Royal House, as announced yesterday.
From now on, the accounts of the Royal House will be verified by the Court of Accounts, with which an agreement will be signed.
In addition, the new royal decree will regulate all contracting procedures of the Royal House. All the contracts you make and all the principles that govern that contract will also be published on the website.
https://www.abc.es/espana/abci-cuent...7_noticia.html

[Duke of Marmalade]

Originally Posted by Prinsara

Yeah. I suppose it is poignant because should Spain decide they don't want them one day, those 2.5 million Euros, liquified, will buy a nice little house in a not-terribly posh area somewhere, probably less fancy than Uncle Tino and Auntie Anne-Marie had. And that is about it.

Perhaps this is partly Felipe's declaration of determination to (continue being) a damn good king. He literally cannot afford not to be.

Maybe all the assets are with Queen Letizia
We shouldn't worry too much about them, when they are done being King or Queen they can always write a memoir or rent themselves out as dinner speakers. It will make a nice living, just ask Obama.

[An Ard Ri]

The living arrangements should have been changed when Felipe VI became king and moved to the main Zarzuela House and found a home else where for JC/Sofia/Irene.

Currently the kings mother and aunt live like the grand dames in the big house.

[Duc_et_Pair]

Originally Posted by Duke of Marmalade

Maybe all the assets are with Queen Letizia
We shouldn't worry too much about them, when they are done being King or Queen they can always write a memoir or rent themselves out as dinner speakers. It will make a nice living, just ask Obama.

There seems no big interest in royals' memoirs or as hired speakers, looking at all these former royal families.

[Blog Real]

Originally Posted by Duc_et_Pair

There seems no big interest in royals' memoirs or as hired speakers, looking at all these former royal families.

I have no doubt that if Queen Letizia one day launches a memoir, it would be a success. We all want to know what she thinks about certain subjects and people.

[Susan D]

I am not surprised that King Felipe is not rich; I am only surprised that he has his money in such a liquid form as bank accounts.

[Duc_et_Pair]

Originally Posted by Blog Real

I have no doubt that if Queen Letizia one day launches a memoir, it would be a success. We all want to know what she thinks about certain subjects and people.

The point was making a living as a deposed royal. Looking at today's pretenders, no one makes a living by memoirs and speeches.

[Duc_et_Pair]

Originally Posted by Susan D

I am not surprised that King Felipe is not rich; I am only surprised that he has his money in such a liquid form as bank accounts.

Probably the hard and very practical lesson of the Exile. Cash is transportable.

[Duc_et_Pair]

Originally Posted by Mbruno

Yet we keep hearing claims on the internet, including in this forum occasionally, that King Juan Carlos has a personal fortune of more than one billion euros (which I don't believe to be true BTW).

To make things worse, King Felipe VI was forced to officially give up any inheritance from his father. Hopefully some assets were transferred to Queen Sofia, so the King can still retain part of his inheritance rights like any normal citizen.

It will end with two very wealthy Infantas receiving Don Juan Carlos' inheritance and a King without a real financial buffer. A bit a big house with a private garden around in Madrid, Barcelona, Sevilla, Málaga is already close or over 1 million Euro. It is his self-chosen abstinence from his father's inheritance.

[Duke of Marmalade]

We will see (or not) what Felipe will inherit from his mother's side. Queen Sofia's financials may be as questionable as her husbands' but nobody has looked into that as yet.