Costs and Finances of the Swedish Royal Family


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LadyFinn said:
Million profit for the royal children's company - for the 10th consecutive year
Crown Princess Victoria, Prince Carl Philip and Princess Madeleine once again make a million profit in their company Gluonen.
The company, which invests in Swedish securities, made a profit of just over SEK 1.4 million after tax last year.
This comes after the record profit in 2017 of just over SEK 3.2 million.
Gluonen AB is an asset management company owned by the royal family. The capital was already given to the children of the king as small, about 35 years ago, as a gift from the king.
- Today, the royal children each own about 32 percent. The king and queen still own a few percent, says Jan Lindman, Court Treasurer and CEO of Gluonen.
The Gluonen Board of Directors is tasked with managing the money for the family in the long term through long-term investments in, above all, the Swedish stock market.
The royal children's share portfolio is currently worth more than SEK 35 million (calculated July 22, 2019). The equity portfolio is characterized by well-known Swedish companies and brands and has a low risk profile. Among the central companies are Investor, Sandvik, Volvo and Atlas Copco.
After the big record year 2017, Jan Lindman describes last year as a middle year.
- The general index fell by a few percent, and it was the first time in seven years that the stock market actually fell. In the last quarter, the market fell quite sharply, but that it is going down a few years or two lies in the cards, we expect. It is the long-term development that counts.
Although the market went down slightly, Lindman is pleased with the result for 2018. The company reports a million profit for the 10th consecutive year.
The Royal children never pay out any dividends, but the money is reinvested in the company.
- It is long-term savings, and therefore no dividend has been paid out during my ten years in the company, says Jan Lindman.
Miljonvinst i kungabarnens företag – för tionde året i rad
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Wow that’s great!
 
The court has recently updated the pages of the Royal Finances at their website.

The Court Administration
The budget allocation for the Court Administration is approximately SEK 69 million (2017).
This has to cover the cost of The King's official duties, including travel and expenditure by the Office of the Marshal of the Realm and its staff departments, the Information Department, the Office of the Marshal of the Court (department that administrate The Royal Family's activities and households), as well as the Royal Stables (motorised and horse-drawn transport and the care of historic carriages and harness).
This allocation is released at the beginning of the year. The accounts are audited by external auditors.
The Palace Administration
The Palace Administration consists of the Office of the Governor of the Royal Palaces (management of the Royal Palaces and their grounds) and the Royal Collections (management and care of furnishings and art collections).
These two departments receive a total of some SEK 67 million (2017) from the State and in addition derive revenues from visitor and retailing activities at the various palaces. The budget allocation for the Palace Administration is disbursed monthly.
The Royal Djurgården Administration
The Royal Djurgården Administration (KDF), obtains revenue in the form of rents and leases to cover its expenses. This administration is a separate accounting unit in its own right.
The Royal Family's Private Finances
The Royal Family's private finances include Solliden, on the island of Öland, the grounds and pavilion of which are open to the general public, and Stenhammar, near Flen, which is leased from the State (by special testamentary disposition).
The same rules of taxation apply to the Royal Family as to other citizens.
Royal Finances - Sveriges Kungahus
Ekonomi - Sveriges Kungahus

H.M. The King's Household is also responsible for the planning and implementation of Prince Carl Philip's and Princess Sofia's official activities and representation.
H.M. The King's Household - Sveriges Kungahus

H.M. The Queen's Household is also responsible for the planning and implementation of Princess Madeleine's official activities and representation.
H.M. The Queen's Household - Sveriges Kungahus
 
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If my calculation is right, it is about 12 million Euro. Is this the complete budget? In my country the monarchy costs around 100 million Euro, while in Sweden there is a massive Royal Palace in Stockholm, with daily ceremonial changing of the guard, more royal residences in perfect cobdition, etc. I can not imagine that the upkeep, heating, maintenance of the Royal Palace Stockholm alone (one of the biggest royal palaces in the world) is all included in 12 million Euro?
 
It certainly seems very little, even the court's costs being €6.4million seems pretty low. The palaces costing the same seems very odd to me but the Palaces do charge entrance fees so maybe the €16 entrance fee for an adult brings in enough to keep the Palace going, I found an annual report for 2018 which has slightly bigger figures - SEK71million for the Court and 68.2million for the Palace administration.

Plus the report stated 849,631 people visited the Royal Palace (I imagine not all were for the top price of €16 but still thats a lot - €13.59million in entrance fees just for the Royal Palace if everyone paid top price). Plus the Palace administration rents out some property I think so I guess all together it must be enough to keep everything up and running.

Edit - if I read the next page I'd have seen that actually the accounts state the Palace Administration received SEK69million from the State but made SEK115million from entrance fees, shop sales, rents, forestry and other. In total the Palace Administration had operating costs of SEK191 (€17.8million)
 
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Indeed, these figures don't cover all expenses related to the Royal Family or the Royal Palaces, but is divided among several Governmental authorities.

The Changing of the Guard is managed by the Swedish Armed Forces and various regiments take turn in guarding the Palaces. Thus is the costs covered by the Armed Forces, as well as when in comes to grenadiers and other soldiers taking part in state visits, formal audiences or other state functions. The security of the Royal Family, other than that of the Royal Guard, is covered by the Police, both from day-to-day business as special events. Of course the Security Services takes the largest part in this.

The grant for The Royal Palaces should cover the maintenance and public showings of the Palaces, the Parks and gardens, as well as the preservation of the Royal Collections, with its furnitures
and paintings and so on (and on and on). The Palaces are owned by the National Property Board (SFV) and I assume they cover the more serious maintenance and renovations of the Palaces. Such as, the ongoing 30 year old facade renovation of the Royal Palace of Stockholm.

To give some further insights I will give some basic figures from The Annual Report 2018 (millions SEK).

The Royal Court
Revenues: (total) 84.524
Grant from the state: 70.991
Fees and other revenues*: 13.334

Expenses: (total) -84.379
Staff: -59.054
Operating expenses: -24.957

The Royal Palaces
Revenues: (total) 185.282
Grant from the state: 69.053
Fees and other revenues**: 115.276
Contributions: 912

Expenses: (total) -191.097
Staff: -118.053
Operating expenses: -63.729
Depreciations: -8.125

* The fees mostly comes from services for administration provided to the Royal Foundations and the Royal Palaces.
** The fees mostly comes from the entrances fees to The Royal Palaces, The Royal Gift Shops and rent.

The Annual Report is available here, only in Swedish though:
https://www.kungahuset.se/download/.../1556878000254/Verksamhetsberättelsen2018.pdf
 
Thanks!

It seems the same across all monarchies, some report a lot more cost areas than others. For example Spain is often viewed as the cheapest yet their Royal costs don't include the upkeep of Palaces, travel on jets, overseas visits etc whereas the Dutch and UK (and possibly others) do include these. Until you can compare across every RF accounting in the same way its impossible.
 
So that children company of there’s what does it consist of?
 
The King and the Royal court gets a raise of apanage to SEK 146,4 million, SEK 1,715 million more than before.
In 2018 the court got 1752 inquiries of a member of the royal family attending at an event. The members of royal family attended at 900 events (in 2017 at 875 events).
Now it is estimated that the apanage will be around SEK 148 million in 2021.
Så mycket höjs kungens anslag i budgeten _ Aftonbladet
 
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Million success for Prince Daniel and his company
Prince Daniel's former gym chain, Balance, struggled for a long time with weak profitability. He was the principal owner of the company, but ended up being active after the marriage with Crown Princess Victoria in 2010. In 2018, Daniel sold Balance to Sats.
During 2018, Daniel's company Fornwij AB had a successful year.
The company, whose business is described as “owning and managing real estate” shows very good results in its quarterly report.
In 2017, profit after financial items was SEK 1.4 million. In 2018, the corresponding result reached SEK 5.4 million - an increase of SEK 4 million.
Fornwij AB now has equity of just over SEK 8.6 million.
The revenue consists of dividends from other companies that Prince Daniel owns through his company. For example, the parent company Fornwij owns 70 percent of the company Lapada AB, which in turn owns just over 80 percent of Master Training AB.
Prince Daniel started Master Training AB in the 1990s with an acquaintance, and through that Prince Daniel has made several warm contacts.
Prince Daniel was working at the company's luxury gym in central Stockholm when he met his future wife, Crown Princess Victoria.
At the time he acted as personal trainer in Victoria, whereupon friendship became love.
Master Training AB breeds "wellness, fitness, personal training and skiing and golfing events".
Its turnover has been steadily at just over SEK 20 million per year. Profit after tax has landed at between three and four million SEK.
However, Prince Daniel has not paid any dividends, but left the profits in the company.
Prins Daniel_ Succéår för hans bolag

Daniel owns 100% of the shares of Fornwij AB.
 
Press release from the government

Investigation on the public rewards system, the general flag days and the grant for the court

The government has commissioned a committee to review the public reward system and the general flag days and to consider the shape of Parliament's grant for the court.
Within the framework of the review of the public reward system, the Committee shall, inter alia, investigate whether the forms of allocation of the various public rewards of the government and administrative authorities should be changed. The assignment also includes reviewing whether the opportunities for citizens to nominate individuals for public rewards should be expanded.
The Committee will also propose amendments to the regulation of the general flag days, with the aim of reducing the number of royal flag days at the next change of the Head of State. The Committee shall also decide whether one or more new public flag days should be introduced.
The Committee is also instructed to elaborate, in consultation with the Court, principles for the so-called. apanage, and consider how the design of Parliament's grant for the court can contribute to the royal house's official commitments being primarily carried out by a limited number of its members. The assignment is not a consequence of the king's previous message about which members of the royal family he expects to be able to take official assignments.
The assignment is in line with Parliament's announcements from spring 2018, which had its background in a cross-border agreement reached in the Parliament's Constitutional Committee between the Social Democrats, the Environment Party, the Center Party, the Liberals, the Moderates and the Christian Democrats.
Former Speaker of the Riksdag Björn von Sydow will chair the Committee.
Utredning om det offentliga belöningssystemet, de allmänna flaggdagarna och anslaget till hovet - Regeringen.se

The assignment must be presented no later than June 15, 2021. If the committee deems it appropriate, it may submit one or more sub-reports.
Det offentliga belöningssystemet, de allmänna flaggdagarna och utformningen av anslaget till hovet - Regeringen.se
Translation

There may be fewer in the royal family who will receive tax money in a few years. In the background, there is concern about increased costs as the family grows.
An investigation will call for a smaller part of the family than today to stand for the royal duties and millions are reserved for them.
Currently, there are eighteen public flag days and six of them are royal. According to the directives, the committee aims to reduce royal flag days so that it is only flagged for the birthdays and name days of the head of state and the heir to the throne. If that were the case today, Queen Silvia would be without flag days.
Kunglig kostym kan snöras åt _ Aftonbladet
 
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The court: Cultural heritage is affected when castle visitors are absent
The royal palaces have been severely affected by the corona crisis. The visitors are absent and this year a loss of approximately 75 percent of the revenue is expected. According to the governor of the Royal Palaces, it risks affecting the cultural heritage.
During the spring, the royal castles have been closed to visitors due to the corona pandemic. On July 1, four of the eleven royal castles reopened, but there will be few visitors. On a normal day during the high season, around 10,000 visitors may come to the Royal Palace, but now there will only be between 100 and 200. Due to the fact that there will hardly be any tourists, 75 percent of the revenue is estimated to be lost this year. In a normal year, tourists generate SEK 105 million. This year, revenues are estimated to be only 27 million.
- We have not hired hourly and summer employees, which is about 300 people. Then it is of course the case that when we have fewer employees, the management of parks will be not be done in the way we normally do. It has effects on the care of the cultural heritage, says Staffan Larsson, governor of the Royal Palaces.
The state provides grants to the court. Part to the so-called court administration which finances the king's task as head of state and part to the so-called palace administration which goes to preserve the royal castles and parks. But the care of them is paid for about 80 percent of income from, among others, tourists.
- This division of the apanage is decided by the government and the Riksdag, so we have nothing to say about it.
The Royal Family has not received any government subsidy to cope with the crisis, but according to Staffan Larsson, talks are underway with the Ministry of Finance.
- We want nothing more than to show this fantastic cultural heritage and no one gets happier than us when we see all the people out in our parks. But if you then take care of them, it costs money, says Staffan Larsson.
Hovet_ Kulturarv påverkas när slottsbesökare uteblir _ SVT Nyheter

The royal family's finances have been hit hard by the corona crisis. Now Treasurer of the Court Jan Lindman tells more.
Svensk Damtidning has spoken with the court's chief financial officer Jan Lindman about the court's financial situation. He does not deny that the situation is tough.
- Our business can be divided into two parts. The castle administration, which takes care of tours of the various castles and our parks, for example. There we see a strong negative effect, as the number of visitors decreases sharply, says Jan.
- For that part, the situation is very problematic.
But for the other branch of the business, the court administration, the figures are not as bad.
- There we have seen a fairly neutral effect. We have, for example, had reduced travel costs.
For Jan and his colleagues, it is about making the two parts work in a kind of symbiosis.
- When the palace administration fights, the court administration must bear a little more of the common costs. So then there will be higher pressure on the court administration, says Jan.
- We can only hope that this passes soon. For the good of all, for the whole society.
Kungafamiljen i kris – hopplöst läge _ Svensk Dam
 
LadyFinn said:
The court: Cultural heritage is affected when castle visitors are absent
The royal palaces have been severely affected by the corona crisis. The visitors are absent and this year a loss of approximately 75 percent of the revenue is expected. According to the governor of the Royal Palaces, it risks affecting the cultural heritage.

[...]

The Royal Family has not received any government subsidy to cope with the crisis, but according to Staffan Larsson, talks are underway with the Ministry of Finance.
- We want nothing more than to show this fantastic cultural heritage and no one gets happier than us when we see all the people out in our parks. But if you then take care of them, it costs money, says Staffan Larsson.
Hovet_ Kulturarv påverkas när slottsbesökare uteblir _ SVT Nyheter
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I understand the necessity, but I wonder how a government crisis subsidy to the palace administration would be seen by the public, given that even in times when fewer were struggling there was often dissatisfaction over the costs of the monarchy.
 
tommy100 said:
Thanks!

It seems the same across all monarchies, some report a lot more cost areas than others. For example Spain is often viewed as the cheapest yet their Royal costs don't include the upkeep of Palaces, travel on jets, overseas visits etc whereas the Dutch and UK (and possibly others) do include these. Until you can compare across every RF accounting in the same way its impossible.
Click to expand...


The upkeep of the Spanish palaces is not paid for from the Royal Household's budget but rather by National Heritage (Patrimonio Nacional), which is the state agency that manages the royal sites. Whereas the Royal Household (Casa de S.M. el Rey) has only an 8-million euro budget, the National Heritage budget is normally in the 100 million range.


I believe something similar happens in Sweden. The King has the right of disposal, which is administered by the Royal Court and includes entrance fees, rents and allocation of premises to tenants, but the buildings are physically mantained by the State Property agency. If I am not mistaken, only the buildings in the Royal Djurgarden park (and perhaps the Drottingholm estate ?) are directly mantained by the Royal Court.
 
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The royal children's capital company Gluonen AB makes its best result ever.
The profit before tax was just over SEK four million.
- The Swedish and foreign stock exchanges did incredibly well last year. Then the company is also doing well. It is a stock market effect, quite simply, says Jan Lindman, the Court Treasurer and CEO of Gluonen.
Gluonen was formed in 1989 and is 96 percent owned by Crown Princess Victoria, Princess Madeleine and Prince Carl Philip. The remaining four percent is owned by the King and Queen.
Now the company has made the best result since the start just over 30 years ago. The profit after tax was almost SEK 3.2 million. Equity ended at SEK 30.7 million.
It is not a particularly active company but has a long-term investment strategy.
- We never take out any money but leave it in the company, and then invest it mainly in Swedish, large listed companies. This has been the case for a long time. We do not sell much of those shares, says Jan Lindman.
He does not want to say which shares it is about.
But it is already known that these are Swedish giants such as Investor, Lundbergs, Latour, Nordea, SEB, SKF and Getinge.
- The royal family wants to show that they believe in Sweden, he says.
They have not chosen to look at specific industries but have chosen to invest broadly.
The annual report, which has now been made public, states that parts of the holding have been sold.
Jan Lindman says that the only thing they have communicated before is that they have got rid of the holding in H&M.
How involved are the royal children in the management of the shares?
- They are involved in such a way that they want to get information about how it has gone. But not engaged in what investments we make.
Jan Lindman says that it has to do with the fact that the royal family is very well informed through all their visits to different places.
- Then it may be that they receive information that is not generally known. We don't want to have a discussion about it, so we don't consult them about what business we do. We tell afterwards what we have done.
Members of the royal family can, for example, sit on the Advisory Council on Foreign Affairs. and hear things about Sweden's relationship with other powers.
- Sometimes it can be about customs and regulations that can affect the companies. Then it is better that they are not involved.
Kungabarnens kapitalbolag Gluonen AB gör sitt bästa resultat
 
After six months with the corona pandemic in society, it can be stated that the royal work events have been fewer than ever. It affects the budget for the entire royal court. Fewer assignments means fewer trips, arranging representation events, less cost for guards and logistics to name just a few of the costs that an active royal house entails.
All these costs are covered by the apanage, a state grant determined in each year's budget, and it is the king's task to distribute the money among the members of the royal family. The money will be used for representation, travel and costs for the court's staff, just over 200 people. The big question is, will the apanage be affected in any way by the fact that royals now represents less than ever? We asked the question to Jan Lindman, the court Treasurer.
- I can not really answer that, what happens is that there is less activity, which means less costs. I do not yet know whether it has any long-term impact on the funding we receive from the government and the Riksdag. It is a question of next year's apanage whether it should be changed, says Jan Lindman.
What are the factors that have a possible effect on the apanage?
- It is about long-term effects. The part of our business is showing cultural heritage and the castles is very important to us, and there the income from visitors will decrease sharply this year.
Is it then likely that the saved expenses will be weighed against the reduced revenues for next year's budget?
- There we have a discussion about how the deficits should be handled, and it is a situation that is certainly reminiscent of a number of state museums. That's the part of the big change. The big point is lost revenue, the other is much less, says Jan Lindman.
Bakslaget för kungen – intäkterna har rasat _ Svensk Dam

Yes, the royal family has represented less. But Victoria and Daniel both have done more work events than in 2019, many of them done at online meetings.
 
The king will receive an extra SEK 40 million for the year 2020. The idea is that the money will be used to compensate for the royal palaces' lost viewing income due to the corona pandemic.
When the autumn budget was presented last year, the Royal Court and Palace Administration received SEK 146.4 million in funding for the year 2020. But the Royal Court and Palace Administration also has income to finance its activities, among other things through tours of the palaces.
Due to the corona pandemic, the palaces have been forced to close and therefore these revenues have decreased. In the government's autumn amendment budget, the king will therefore receive compensation for the lost revenue - a total of SEK 40 million for the year 2020.
"The spread of covid-19 disease has meant that the income from viewings of the royal palaces has decreased. In order to mitigate the financial consequences, support is needed for lost income. The support should be distributed in its entirety to the Royal Palace Administration", the government writes .
The budget item "Head of State" (ie the King) for the year 2020 therefore amounts to a total of 186.4 million. In the coming years (2021-2023), the idea is that the king will get less again, 148-150 million annually.
Kungen får coronastöd - Altinget - Allt om politik_ altinget.se
 
Are all Swedish companies/organizations eligible for such compensation or is it a special regulation for the king?
 
Staffan Larsson, the Governor or the Royal Palaces, has been interviewed by TT News Agency.

The court in a money crisis - wants more state support
Royal palaces/castles have been closed and the management of the parks is neglected. The court is making millions in losses since the tourists disappeared in the wake of the corona crisis.
Now the court hopes that the state will take over responsibility for the financing of the eleven royal castles.
The Royal Palace is spooky empty. Staffan Larsson, the Governor of the Royal Palaces, describes it as surreal to walk through the empty floors.
- In normal cases, there are long queues of visitors in almost every room. Now maybe a hundred people in a whole day visit us. It is a big difference.
When the corona pandemic raged at its worst at the end of March, all of the eleven royal castles were closed to visitors. In July, there were only resources left to open four of them. Because unlike the Court Administration, which finances the king's task as head of state, the Palace Administration, which manages the royal castles and parks, is not fully state-funded.
Missing 50 million
The Palace Administration is 80 percent dependent on revenue, and thus on tourists. To get around, revenues of SEK 105 million a year are needed, but this year they only expect to receive SEK 28 million.
- So far this year, we have had 167,000 visitors in the castles. In a normal year, we should have had around 1.5 million at this time, says Staffan Larsson.
- We need the income to be able to employ janitors, castle guards, display staff, people who take care of our parks and gardens and staff who take care of the movables.
Through cuts, layoffs and redeployment of staff, the Palace Administration managed to save just over SEK 30 million. But the figures still shone bright red and the forecast pointed to a deficit of just over 50 million at the end of the year, according to Staffan Larsson.
That was when the government came to the rescue. In the autumn amendment budget, it was proposed that the Palace Administration receive SEK 40 million in extra funding. An airbag against the crisis. They will still go minus about SEK ten million, but Staffan Larsson describes it as "manageable".
- If we had not received this support, we would have had big problems.
At the same time, the worries are far from over, he claims.
- Now we have been saved this year, but next year there will be a new situation again. I don't think the tourists will come back to any great extent. Many of the cruise trips for next year are already planned and we have not received any inquiries at all.
And the corona crisis is not the only threat. Staffan Larsson paints a picture of an increasingly changeable and anxious world. Climate change, economic crises and potential trade wars between great powers - everything can hit the Palace Administration's revenues hard.
He takes summer 2018 as an example. Then the heat wave settled like a lid over Sweden and many tourists didn't show up, the situation became difficult. Staffan Larsson has been at his job for four years and describes it as half of the working time so far has been about managing large fluctuations in the flow of visitors.
- There are many industries that are in the same situation, but the challenge for us is that we have an assignment. The head of state has a mandate from the Riksdag to nurture, protect and show this cultural heritage. We can't just stop carrying out the assignment, but it is difficult when it is revenue-financed to such an extent, he says and adds:
- This is not the king's or the organization's cultural heritage, it is state-owned buildings and parks. It is not reasonable that American, German and Chinese tourists should pay for it.
Instead, the Palace Administration should also be tax-financed to a greater degree, says Staffan Larsson. But that, he adds, is a matter for the Riksdag and the government to decide on.
TT: You received money from the state this year, what is it that says that taxpayers will continue to pay in the future when it may be ready for next summer?
- My point is that it will not be ready for next summer. For such an important cultural heritage, one can't have a system that goes from zero to a hundred all the time. There is a structural issue here that we must look at together with the government and the Riksdag. It must become more stable.
Hovet i pengakris – vill ha mer statligt stöd _ Aftonbladet
 
The royal castles are basically empty, and the court is in acute need of money. Now the king wants help with financing the care.
The pandemic closed the royal castles this spring, although four of them could open in July. But visitors have not flocked as in previous years.
- At this time we should have had about 1.5 million visitors, but to date only about 170,000 have visited the royal castles, says Staffan Larsson, the Governor of the Royal Palaces.
The finance department of the Court is divided into different areas of responsibility. The Court Administration are state-funded and received SEK 71 million last year to handle the head of state's travel and representation. Royal Djurgården receives income in the form of rents that cover the costs.
But the Palace Administration, which includes the Governors' Office's castle administration and the Royal Collections, is dependent on tourists to walk around. Last year, the state subsidy amounted to SEK 69 million, but the 105 million that tourists contribute in the form of entry and other things is also needed annually.
- At present, we have reduced variable costs, which means that some projects and investments will not be implemented. We have also had limited resources to manage parks and plantations, says Staffan Larsson.
An extra government grant of 40 million has saved the business. How will it be next year?
- We have a good dialogue with the Government Offices and are hopeful that next year we will also find solutions to the possible effects of the pandemic, says Staffan Larsson.
People have flocked to the royal parks this summer, but they have received poorer care and fewer flowers.
- This year we have prioritized discounts that were directly adjacent to the royal castles, says Staffan Larsson.
During the autumn, the Royal Palace and Drottningsholm Palace will be open to visitors.
How it will be next year is not decided.
- What distinguishes 2020 from 2021 is that we now have better routines and knowledge of how the pandemic should be handled. So our focus is to try to normalize the business as far as possible.
However, Staffan Larsson does not believe that the castles will be in full swing next year, due to lack of money.
You mean that the apanage should be bigger?
- The Palace Administration, which has the task of nurturing and showing the cultural heritage, is dependent on income from the hospitality industry, which is currently the problem. The royal cultural heritage largely consists of state objects that we think the Swedish people have the right to see.
How the problem is to be solved is a task for the Riksdag and the government, says Staffan Larsson.
- The simplest solution is, of course, as has been done this year, to increase government funding. There are also other models that can be applied.
He believes that the most important thing is not how it happens, but that something happens.
- The most important thing is that stability and long-term increase when it comes to financing the care and management of a unique and state-owned cultural heritage.
The Liberal Member of Parliament Robert Hannah has previously been critical of, among other things, the size of the apanage. Now he has no objections.
- I do not mind that they receive support because, just as they say themselves, the castles are part of Sweden's cultural heritage. From what I understand, the state also owns the castles, the king only disposes of them, he says.
Hovet vill ha mer pengar när slotten står tomma corona. _ Aftonbladet
 
Dagens Industri Di's paywall article
Congratulations Victoria shares now worth over SEK 100 million
Crown Princess Victoria can celebrate her birthday by swimming in money - her and her siblings' share portfolio is now worth a nine-figure amount.
Så mycket är kronprinsessan Victorias aktier värda

Expressen quotes the article
Today, Crown Princess Victoria celebrates her 44th birthday. And she does it with money in the bank.
Victoria, Carl Philip and Madeleine have money saved in two different equity portfolios. One is the investment company Gluonen, which was formed 32 years ago and is owned 98% by Victoria, Carl Philip and Madeleine and about 2% by the king and queen.
They also have money saved in the Gallierafonden, a fideicommiss that Emperor Napoleon donated to the royal children's relatives in the 19th century.
Recently, the portfolios have grown to a total value of SEK 100 million.
The investment company Investor accounts for a large part of the increase. The company accounts for about 40% of Gluonen's value, Investor has had a development of almost 40% this year. The medical technology company Getinge is also doing well, it has risen by 75% this year and has the strongest price in Gluonen's portfolio. The investment company Latour also has a positive development.
The value of Gluonen amounts to around SEK 60 million. In addition, Gallierafonden is estimated at around SEK 40 million - based on the information that is public. But the value is higher, says Jan Lindman, the court's chief financial officer.
- Gallierafonden is many times larger, it is much larger than that.
Investor also accounts for the largest share in Gallierafonden. But there are also shares in SEB, Swedbank, Sandvik and Essity. The fund sold its shares in Nordea in previous years, as the bank is no longer Swedish.
Kungabarnens aktiedröm_ 100 miljoner kronor
 
LadyFinn said:
Congratulations Victoria shares now worth over SEK 100 million
Crown Princess Victoria can celebrate her birthday by swimming in money - her and her siblings' share portfolio is now worth a nine-figure amount.
Så mycket är kronprinsessan Victorias aktier värda
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Thank you, Lady Finn, for keeping us up-to-date!

So, the Crown Princess of Sweden has "high powered" money to the amount of 10 million €uro or roughly 12 million US$.

This is surely huge from a commoner's perspective, but if one considers, that they are since at least two centuries on the throne, the Bernadottes, it can be viewed as a bit underwhelming too...

The internet claims, her father is 7-times that rich.

May the forthcoming centuries be more prosperous!
 
It was never lucrative to be king in this country (no colonies to exploit), but more interesting than how much money they have, is to consider where it came from.



It's actually money from the first Bernadotte king, Karl Johan. He had a substantial fortune of his own to start with, but he was also showered with money from Napoleon at his enthronement. Napoleon was more than pleased to have an allied king in the north, to hopefully help him in his war with Russia.

However, Karl Johan used most of the money to pay off Sweden's earlier war debts (to Russia) instead and kept the peace the country needed so well.
The rest of his fortune he invested for his descendants and they have been taking care of the legacy ever since.
 
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Secretary of State for Justice and Migration, Morgan Johansson and former Speaker and Head of the Parliamentary Committee responsible for the inquiry regarding a reformed honours system, national flag days and the finances of the Royal family, Björn von Sydow will hold a press conference at 14.30 today to present the result of the inquiry. The press conference will be streamed live at regeringen.se and the Regeringskansliet channel on YouTube.
 
JR76 said:
Secretary of State for Justice and Migration, Morgan Johansson and former Speaker and Head of the Parliamentary Committee responsible for the inquiry regarding a reformed honours system, national flag days and the finances of the Royal family, Björn von Sydow will hold a press conference at 14.30 today to present the result of the inquiry. The press conference will be streamed live at regeringen.se and the Regeringskansliet channel on YouTube.
Click to expand...

Look forward. Hope there are some summaries in English for us foreigners!
 
muriel said:
Look forward. Hope there are some summaries in English for us foreigners!
Click to expand...
The Twitter account @phaleristica will live tweet from the press conference. Although in Swedish all tweets have a translate button
 
JR76 said:
The Twitter account @phaleristica will live tweet from the press conference. Although in Swedish all tweets have a translate button
Click to expand...

Thanks, @JR76
 
From the website of the Government Offices
The national system of orders and the Government’s awards
A more active and well-adapted use of honours presupposes that several different forms of honours can be used. It is appropriate to be able to link back to the honours used previously since they have a recognised and appreciated value. The Committee proposes a resumption of bestowal of awards to Swedish citizens in the national system of honours; both Swedish and foreign citizens will be able to receive awards.
The public flag days
To celebrate the democratic aspect of the right to elections in the European Union, the Committee proposes that the day of elections to the European Parliament is introduced as a new flag day. We also emphasize the democratic aspect on the National day as a flag day. We also propose that the three flag days for the Royal name days and the flag day for the birthday of the spouse of the Monarch are to be removed at the accession of the next Monarch.
The public funding of the Royal Household
The Committee welcomes the greater openness in the annual accounts of the Royal Household, according to the commitment by the Office of the Marshall of the Realm. Under the new reporting model, the annual accounts will contain a statement of how the Head of State has allocated the public funding to members of the Royal Family who have performed official duties that are incumbent on the Head of State or related to the office of Head of State. The annual accounts will also contain an exemplification of what kinds of expenditure are included in these amounts.
Ett modernt belöningssystem, de allmänna flaggdagarna och redovisningen av anslaget till hovet - Regeringen.se
https://www.regeringen.se/4a6941/co...sningen-av-anslaget-till-hovet-sou-202174.pdf
https://www.regeringen.se/4a718f/co...-av-anslaget-till-hovet-sou-202174-bilaga.pdf
https://www.regeringen.se/4a6d46/co...ll-hovet-sou-202174-bilaga-illustrationer.pdf

There is a lot of interesting information at the publications, for example
When it comes to movable property a review of the movable property management of the royal court began in 2018. There is a movable property fideikommiss where the property is to be held and used by the reigning king. These movable property commissions have in 2019 been changed by permutation so that they follow the cognate succession to the throne. Furthermore, foundations have been formed or will be formed to hold objects together after Gustaf V, gifts to the king and the crown princess within the framework of their offices, the court stable carriages and harnesses, etc.
There are King Carl XVI Gustaf's Foundation for the Administration of the Head of States' Gifts and Crown Princess Victoria's Foundation for the Administration of Gifts.
 
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In "short":
A reformed honours system with the awakening (?) of the dormant Order of the Sword and the Order of the Vasa who together will the extant Order of the Polar Star will be awarded to both Swedish and foreign citizens. Since the number of medals awarded by the State has been decreasing the authorities are encouraged to reverse this development and be more generous in handing them out. Nominations to award the orders will be open to the public. The regulations regarding the Order of the Seraphim are not subject to change. The reformed honours system are suggested to take its start on 1 January 2023.

The 3 flag days on the royal name days and the birthday of the spouse of the monarch will be abolished at the death of King Carl Gustav while the day of the Election to the European parliament are suggested as a new flag day.

The Court has agreed to a more transparent account of how the state funds are used and will among other things separately account for the amount awarded to each member of the Royal family that receives a part of the appanage.

The report thoroughly investigates the different point of discussions on the forums since 2019 such as the the king's right to rule over his house, what differentiates Konungahuset - Kungliga huset - Kungafamiljen and finds that he was clearly within his rights to do so.

Konungahuset - everyone in the line of succession
Kungliga huset - The monarch, those closest to the throne in the line of succession and their spouses
Kungliga familjen - those in the line of succession, their spouses and some members of the House of Bernadotte without succession rights

The monarch are as master/mistress of their house free to regulate titles, styles, orders and conditions for those within the line of succession in this new interpretation of the Royal house as long as it doesn't clearly contradict the constitution. Regarding the orders there are apparently also a few regulations in the Order chapter that allows for example Prince Julian to receive the Order of the Seraphim.

The appendix to the report is a very thorough and deep digging into the history, form and present state of the monarchy, the development of the royal prerogative and the transfer of power from the king => the king in council => parliament and government. 444 pages long it quotes many sources from Emperor Justinian, the ancient, in some cases pre-medieval Swedish provincial laws to modern day laws and their pre-works.

For those who either read Swedish or want to go at the SOU with a translation service LadyFinn has included links to both the report and the appendix in her previous post.
 
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