A European king reveals his personal fortune for the first time .. this is its value

The Spanish royal palace revealed King Philip VI’s personal fortune for the first time and announced that it amounted to 2.6 million euros ($ 2.8 million).

The announcement came as Spain’s left-wing government said it would issue a decree on Tuesday to “increase transparency, accountability and efficiency” for the royal family plagued by a previous financial scandal.

Philip ascended the throne in 2014 with the aim of restoring the monarchy’s prestige after his father, Juan Carlos, abdicated over scandals over his financial resources and his love life, according to Agence France-Presse and seen by Al Arabiya.net.

The new king immediately ordered a revision of the royal family and issued a “code of conduct” for its members.

So in 2020, Philip gave up any future personal inheritance he might receive from his father, depriving him of his annual allowance after new details emerged about his alleged shady business.

The Royal Palace statement said the bulk of the king’s personal fortune, around 2.3 million euros, is deposits in current accounts or savings accounts, while the rest consists of a collection of works of art, antiques and jewelery.

He explained that the legacy comes from the reward he has received over the last 25 years, first as Prince of Asturias and since 2014 as King.

“The king, ruled by a spirit of service and civic engagement, today added to his constitutional responsibility his personal decision to make public his property,” the statement read.

The former King of Spain, Juan Carlos, was subjected to three separate investigations into his economic affairs.

Investigations led the 84-year-old to flee the country in self-imposed exile in 2020.

Spanish prosecutors suspended all investigations in March, but Juan Carlos announced shortly after that he would continue to live in the United Arab Emirates and visit Spain frequently.

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