King Felipe Publishes Net Wealth In Effort To Reform Royal House
In an unprecedented move, the Spanish royal house has published the net wealth of the king, Felipe VI.
According to the press statement, released by the Zarzuela Palace, yesterday 25th April, Felipe’s has a personal wealth of 2.57 million Euros, the majority of which ( 2.26 million Euros) is held in deposits and current accounts as well as equity funds, while the remaining 300,000 euros consists of art objects, antiques and jewellery.
The monies represent part of his allowance given to him by the state for exercising his royal duties; first as Prince of Asturias since 1998 and second as King, since 2014.
Since 1998 Felipe has received remuneration of about four million Euros.
The statement read that that from his proclamation as king on June 19th, 2014, Felipe “began the path of modernizing the crown to make it worthy of the respect and trust of the citizens, under the principles of exemplariness, transparency, rectitude and integrity in their behaviours”.
It goes on to say that “today, more than ever, citizens rightly demand that moral and ethical principles inspire – and that exemplariness preside – over our public life. And the king, at the head of the Spanish state, must be not only a reference, but also a servant of this just and legitimate demand of all citizens.”
The statement adds that “this demand for public regeneration is very present in the millions of people who face their daily work with effort and honesty, with vitality and generosity; people who, every day, fulfil their obligations, show their civic values and thus build and define the future of the country”.
The royal house maintains that “this citizen demand inspires and is present in” the messages and measures that the Spanish king has been adopting to “fulfil his commitment to renew the monarchy for a new time.”
As king Felipe receives an annual allowance of 258,927 Euros, while his wife, Queen Letizia receives 142,402 Euros a year.
On turning 16, Princess Eleanor now receives 116,525 Euros from the state.
The publication comes in the wake of a series of damming financial scandals concerning his father, King Juan Carlos, who abdicated in 2014.
Spanish state prosecutors have only just closed their investigations into suspected financial offences by the late king who has been in living in exile in the United Arab Emirates since 2020.
The former king recently published his own letter to his son stating his wish to return to live in Spain through not permanently.
The Socialist government has also today announced that: “the Spanish cabinet will approve a royal decree reforming the structure and operation of the royal house. This decree will strengthen the transparency, accountability, efficiency and exemplariness of the royal house.”
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