Costs, Income, Fortune and Expenditures of the Danish Royal Family

[sm1939]

I do agree with 70 percent of Danes that you cant pay for all the children , because then it becomes silly , I sure their parents have a enough money to look after the children when older and also they will get good jobs with all the connection they will have with being Royal..... isn't Prince Charles wanting to do that here ?

 

[Duc_et_Pair]

Two more articles about this
Danske prinser og prinsesser kan miste statsstøtten - Politik
Politikere vil bremse royal pengestrøm til børneflokken - Politiken.dk
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I do not think apanages will be given to Prince Joachim's children. But it might be that all 4 of Frederik's kids will. After-all, when Frederik is king, Christian crown prince, we can expect Isabella and the twins to help out somewhat.
Isabella, more than the twins, will be in the same position as Joachim.

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Are the younger sons incapable to earn their own money, as almost all junior Princes on the Continent do?

 

[Rudolph]

The Danish royal family have taken the rare move of issuing a public statement amid the growing controversy over which of Queen Margrethe’s grandchildren can expect to receive a salary funded by the state.

Royal House spokeswoman Lene Balleby told the state broadcaster DR that only Crown Prince Frederik’s son Prince Christian will be paid a salary when he comes of age.

Read more: Danish royals issue rare public statement after growing controversy over state-funded salaries

 

[tommy100]

Random thought.... I was thinking the other day of the unhappiness by some that Countess Alexandra receives an allowance from the State, something I and others have commented on previously.

I thought to myself, couldn't the Danish Royals have discreetly asked some of their rich friends to find Alexandra a job and therefore take out the need for the State to provide for her. Then I realised of another RF who tried that...The Spanish, where the King set up his son-in-law Inaki with a job and that led to a massive scandal. If the Danish Royals had simply cut her out there could well be a situation like there is in the UK with Sarah Ferguson who trades on her royal connections and has even been caught selling access to her ex-husband.

In short, it may not seem ideal for the Danish taxpayers atm but looking back in years to come I'm sure people may see how clever it was to tie Alexandra to the state and prevent her having to make money in other ways that may cause a scandal.

 

[Muhler]

I think you very much nailed it.

Plus that Alexandra was still a princess.
The mother of the oldest grandchild at the time.
And still very popular.

It would have been unacceptable at the time not to grant her some kind of income, as she could not hold a "normal" job, being a princess.

The change came when Christian was born and when Alexandra later remarried and lost her princess title.
From then on you can argue that she should not have an apanage.

The amount is all in all still fairly trivial, but she is not seen as working for her money and she's (on paper at least) getting a higher apanage than Mary, who works much more and holds a much higher position.

 

[Frelinghighness]

Why would she be,getting more money than Mary

 

[Muhler]

Mary gets 10 % of Frederik's apanage, or more correctly the apanage for the CP-Couple, while Alexandra got a fixed sum, which is being index-regulated.

For whatever reasons that amounts to more than what Mary is getting.
However, Alexandra now has to pay taxes of her apanage. But Alexandra wasn't a financial advisor for nothing, so in my cautious estimation she's now a comfortable millionaire. I.e. with a fortune of not less than 10 million DKK, excluding her apartment and one house in Turkey.

In comparison I'll conservatively estimate Joachim's fortune, excluding house and land and other properties of being at the very least 25 million DKK.

M&F's fortune is difficult to estimate, but my guess would be in the range of 10-20 million DKK, including Frederik's art collection. But no more than that, possibly less.

I've heard the Regent Couple's fortune as being around 50 million DKK, including various assets, but of course not including Marselisborg and Trend. Because while Trend can be sold, it would be very difficult for the DRF to sell Marselisborg for profit, even though such a sale sale should easily double their fortune. The locals would be in uproar!

7 DKK = $1.
7.5 DKK = €1.
8.5 DKK = £1.

So the DRF are indeed millionaires, especially in the eyes of the ordinary man, but not impressively rich.

- This is of course a rough estimation, so I'll say my figures are +/- 25 %

 

[FasterB]

The annual report is online

Danish: Beretning | Kongehuset

English: Annual report 2016 | The Danish Monarchy - Front Page

 

[Muhler]

So a surplus for QMII of 500.000 DKK = 67.000 € = 73.000 $ = 56.000 £

I see M&F have a very minor deficit of 22.000 DKK = 2.900 € = 3.200 $ = 2.500 £.

But overall the assets seem sound.
QMII has assets worth some 32.000.000 DKK = 4.3 million € = 4.6 million $ = 3.6 million £

While M&F have assets worth some 5.000.000 DKK = 672.000 € = 749.000 $ = 569.000 £

(Private fortune not included).

 

[polyesco]

Always look forward to these overview of the work done by the DRF.
Nice that they focused a little bit on Joachim's work with the defense and Frederik's work with Danish businesses, particularly DenmarkBridge.

 

[Lady Ingahild]

Does QMII and PH have any sort of private investments, shares or holdings of any kind?

Thank you.

 

[Muhler]

Does QMII and PH have any sort of private investments, shares or holdings of any kind?

Thank you.

Congratulations on your first post.

Yes, they have.

The businessman Fritz Schur is the one who is handling/advising the Regent Couple in regards to their investments.
Previously it was Mærsk McKinney Møller, but he died.

As for M&F and Joachim and our Marie, they no doubt have advisors as well, but who is unknown. - I can imagine Alexandra, who has shown herself to be very competent in regards to investments (also before her marriage to Joachim, may offer advise to Joachim.
But Joachim in particular rubs shoulders with some of the most wealthy business-families in DK, like the Grundfos and Lego families, so I guess he gets some advise from them from time to time.

It is a well known fact that Frederik has a considerable collection of modern paintings, I guess they are also an investment. And you may recall that Mary invested in a tiara not that long ago. Okay, she's got two daughters and the potential for getting two daughters-in-law at some point so there is a need for tiaras, but still, it's also an investment.

 

[Muhler]

Here is the apanage for the DRF next year. There are some substantial rises: https://www.bt.dk/danmark/trods-sol...r-staar-prins-henrik-til-stor-loenforhoejelse

They just follow the general salary index for public employees, so it's not something the DRF has requested. The figures are worth reading anyway.
But perhaps another Dane (or Danish reader) will take over?

I have to go to work, a number of colleagues have been laid off today, and it's a pretty bad mood.
See you tomorrow.

 

[tommy100]

Hmm, will Henrik getting a rise be controversial given last few weeks?

 

[An Ard Ri]

Prince Henrik is getting a payrise as per that article,which beggars belief!

 

[tommy100]

It sounds like its pretty automatic but horrendous timing at the very least!

 

[Kitty1224]

So are the Danish royal family the richest royals in Europe?

 

[Curryong]

Far from it. Their fortune is very modest. The Swedes are wealthier among Scandinavian royals and the Danes' fortune is absolutely dwarfed by the Dutch RF and (although I know theyre not monarchies) Monaco and Leichtenstein.

 

[Pranter]

So are the Danish royal family the richest royals in Europe?

In Europe no I wouldn't think so...I understand the British Royals are about the top. The Queen's net worth is estimated around 400 to 500 million.

I don't think that would even include Prince Charles etc.


LaRae

 

[Countessmeout]

Pranter- based on personal wealth and not on crown estates, Elizabeth doesn't even rank in the top 10. There are 2 who are worth over a billion in Europe, more then twice her.


Only 2 European houses make the top 10 of the richest royals in the world

-Hans Adam II of Lichtenstein comes in 6th place- 3.5 billion dollars,
-stems from the prince of Lichtenstein foundation which controls art, real estate and banking organizations like LGT

-Albert II of Monaco is 8th- 1 billion.
-the casino and plenty of other businesses and real estate.

top 15 we have 2 more European royals

-Elizabeth is said to be worth 450 million
-Beatrix 200 million

http://time.com/3904003/richest-royals/


If we didn't go by individual, and the whole royal family, with Charles and others included in the queen, the number would get closer to 1 billion. but then you would have to consider the wealth of other members of the Lichtenstein, Monaco and Dutch families as well which would push their numbers up as well.

 

[Osipi]

The thing is that its not about who has the most in their pockets or has the biggest net worth out of all the royals in the world as that doesn't define them as being "better" royals or "richer" royals or "top of the heap" royals. There are many, many private citizens around that could buy and sell royal fortunes like buying a loaf of bread.

When it comes to discussing the income, fortune and expenditures of royal families, it is mostly about people wanting to know just how they receive funds for their public and private lives (such as taxpayer monies) and where does it all go and what costs what.

Another thing is that things related to royal families have a different value. The daisy brooch that Queen Margrethe is so fond of may only be worth $4.00 (hypothetically speaking) but when the royal attachment to that brooch is known, it becomes priceless.

Measuring royal families by their "wealth" is going down a veyr superficial road in my book.

 

[JessRulz]

... Another thing is that things related to royal families have a different value. The daisy brooch that Queen Margrethe is so fond of may only be worth $4.00 (hypothetically speaking) but when the royal attachment to that brooch is known, it becomes priceless. ...

In a documentary (I believe it was 'The Royal Jewels'), Queen Margrethe stated that they "don't count carats, they count centuries"

 

[Muhler]

The new accounts are out, and last year was an expensive year for the DRF.

REGNSKAB | Kongehuset

https://www.bt.dk/royale/nyt-regnskab-derfor-har-kongehuset-tabt-millioner

There was a deficit for 2.8 million DKK.
That deficit is covered by the savings.

Salaries for the staff constitute 66 % of the expenses. And a good deal of the deficit is contributable (I think it's called, help!) to medical staff being hired to look after PH.

Apart from that there has been additional spending on renovation and in creating a new guest-area in Christian VIII's manor at Amalienborg. - Which BTW was used by the Belgian Regent Couple lately.

And the car pool has gone through an overhaul.

This however is not to be confused with M&F's accounts. This is the expenses of the court as a whole.

You'll see that M&F's accounts show a little surplus.

----------------

Well, as we all know some years are more expensive than others. It's no different from us when we need a new roof or a new car.

 

[Muhler]

M&F's accounts for 2017 are also published: https://www.bt.dk/royale/forbruget-...insparret-bruger-formue-paa-at-tale-i-telefon

They ended up with a small surplus of 79.753 DKK.

However, since 2016 the costs of calls and postage for letters and parcels have gone up 80 % - From 82.000 in 2016 to 145.554 DKK in 2017.
There is no explanation for that in the notes.

On the other hand M&F have saved 447.697 DKK on electricity, heating, modernizations and maintenance since 2016.

 

[tommy100]

I can understand the staff costs going up if they paid for Henrik's medical care and help. Likewise with the cars, when they need replacing they need replacing though I have to say I haven't noticed any new cars.
Maybe Mary and Fred are handling more fan mail.

 

[Muhler]

Well, in contrast to the Japanese court ?, the DRF seem keen on keeping their fleet of cars in very good condition.
Of course giving several luxury cars a major overhaul is not cheap!

 

[Nordic]

However, since 2016 the costs of calls and postage for letters and parcels have gone up 80 % - From 82.000 in 2016 to 145.554 DKK in 2017.
There is no explanation for that in the notes.

As we know, this is not the numbers for F&M using their mobile and sending packages, even if S&H writes that this is the result of Frederik's use of his mobile . It's the numbers for their court, for both work and personal use.
The result is always for their "company".

Perhaps they should stop sending replies to all the "wishing Isabella a happy birthday" letters but then there would be complaints that they ignore well-wishers...

 

[Stefan]

The new accounts are out, and last year was an expensive year for the DRF.

REGNSKAB | Kongehuset

https://www.bt.dk/royale/nyt-regnskab-derfor-har-kongehuset-tabt-millioner

There was a deficit for 2.8 million DKK.
That deficit is covered by the savings.


Apart from that there has been additional spending on renovation and in creating a new guest-area in Christian VIII's manor at Amalienborg. - Which BTW was used by the Belgian Regent Couple lately.

Are the guest apartements for foreign Head os State etc. not at Christian VII. Manor

 

[Muhler]

As we know, this is not the numbers for F&M using their mobile and sending packages, even if S&H writes that this is the result of Frederik's use of his mobile . It's the numbers for their court, for both work and personal use.
The result is always for their "company".

Perhaps they should stop sending replies to all the "wishing Isabella a happy birthday" letters but then there would be complaints that they ignore well-wishers...

Frederik would have to be on the phone 24/7/365 in order to get that personal bill.

If their staff is issued top-notch (and secure) phones the bill for that alone can easily go way up!

Are the guest apartements for foreign Head os State etc. not at Christian VII. Manor

Not sure. Perhaps they had one more made?

 

[Kitty1224]

Don't they get a lot of things for free? In contrast to the BRF where they have to be very careful.