# Spain’s King Felipe reveals 2.6 million euros in wealth in bid to make Royal House more transparent Author: Pal Sinha, Barnali Author URL: https://financedigest.com/author/pal-sinha-barnali Published: 2022-04-26 Category: NEWS Category URL: https://financedigest.com/category/news Meta Title: Spain's King Felipe VI reveals 2.6 million euro wealth Meta Description: Spain's King Felipe VI revealed his assets worth 2.6 million euros, showcasing transparency reforms in the Royal House and commitment to ethical URL: https://financedigest.com/spains-king-felipe-reveals-2-6-million-euros-in-wealth-in-bid-to-make-royal-house-more-transparenthtml ![undefined](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/2022-04-26t094051z1lynxnpei3p0d4rtroptp4spain-royals-felipe-1736815828007-compressed.jpg) MADRID (Reuters) -Spain’s King Felipe VI disclosed that his wealth is worth about 2.6 million euros ($2.8 million) as the government pushes rules to make the Royal House more transparent and end the opaqueness that prevailed during the reign of his father Juan Carlos. The king’s assets include just under 2.3 million euros in checking or savings accounts and securities, and he currently owns art, antiques and jewellery with a value of more than 305,000 euros, a statement released by the Royal House showed. It did not mention any property or real estate. The king’s wealth mainly comes from the more than 4.3 mln euros he cashed in over the past 25 years, mainly derived from his allowance over 25 years as [prince then king](https://www.financedigest.com/saudi-arabias-king-crown-prince-send-condolences-on-queen-elizabeths-death.html "Saudi Arabia’s king, crown prince send condolences on Queen Elizabeth’s death"), which were taxed, the statement said. Today, more than ever, citizens [demand with all the reason that the moral and ethical principles inspire and the exemplarity presides over our public life”](https://www.financedigest.com/marine-life-rafts-market-trends-growth-future-demand-analysis-and-forecast-by-2027.html "Marine Life Rafts Market Trends, Growth, Future Demand, Analysis and Forecast by 2027"), King Felipe said. The disclosure came hours before the government announced a new law ordering the Royal [House to make public tenders and to publish its financial](https://www.financedigest.com/biggest-uk-house-price-fall-recorded-since-financial-crisis.html "Biggest UK house price fall recorded since financial crisis") statements quarterly, under the comptroller’s supervision. As part of the new law, presents given to the King will be catalogued and either [become his personal property](https://www.financedigest.com/property-letting-could-become-a-legal-minefield.html "PROPERTY LETTING COULD BECOME A LEGAL MINEFIELD") be transferred to the state or donated to charities. Royal House’s senior officials, who in many [cases would be selected among](https://www.financedigest.com/bone-densitometers-market-to-gain-momentum-owing-to-increasing-cases-of-bone-disorders-especially-among-geriatric-population.html "Bone Densitometers Market To Gain Momentum Owing To Increasing Cases Of Bone Disorders Especially Among Geriatric Population") civil servants, will have to declare their assets This royal decree brings the Spanish monarchy up to the highest standards of European royal houses,” Minister Felix Bolanos, who is in charge of relations with the Royal House, told [reporters on Tuesday as he detailed](https://www.financedigest.com/chromoendoscopy-agents-market-2031-report-details-the-future-development-manufacturers-trends-share-size-and-forecast.html "Chromoendoscopy Agents Market 2031 Report Details the Future Development, Manufacturers, Trends, Share, Size and Forecast") the new law. Other European monarchies, such as the British or Belgian royal houses, already apply such transparency measures. Disclosing the scope of his wealth was the king’s own initiative, Bolanos added. Felipe came to the throne in 2014 after his father Juan Carlos abdicated amid a tax fraud case involving members of the [royal family](https://www.financedigest.com/another-momentous-year-beckons-for-britains-royal-family.html "Another momentous year beckons for Britain’s royal family"), as well as a scandal over an elephant-hunting trip at a time when Spain was struggling with a deep recession. As part of efforts to modernise the monarchy and distance himself from the scandals, King Felipe also removed his older sisters, Elena and Cristina, from royal duties. A few years later, Felipe renounced his [inheritance from his father and stripped the ex-monarch of his palace allowance](https://www.financedigest.com/guidance-for-transfer-of-nil-rate-inheritance-tax-allowance.html "Guidance for transfer of nil-rate Inheritance Tax allowance "). Juan Carlos, who retains the title of King Emeritus, left [Spain for the United Arab Emirates in August](https://www.financedigest.com/spain-august-final-12-month-inflation-at-10-5.html "Spain August final 12-month inflation at 10.5%") 2020 under a cloud of scandal and has lived there since. ($1 = 0.9363 euros) (Reporting by Christina Thykjaer and Emma Pinedo, editing by Inti Landauro and Angus MacSwan) --- This blog is powered by Superblog. Visit https://superblog.ai to know more. ---