The Spanish royal palace revealed the personal fortune of King Philip VI for the first time, announcing that it amounted to 2.6 million euros ($ 2.8 million).
This announcement came at a time when she said Spanish left-wing government On Tuesday, she will issue a decree to “enhance transparency, accountability and efficiency” for the royal family affected by an earlier financial scandal.
Philip ascended the throne in 2014 with the aim of restoring the prestige of the monarchy following his father, Juan Carlos, abdicated over scandals regarding his financial resources and his love life, according to Agence France-Presse and seen by Al Arabiya.net.
The new king immediately ordered an audit of the royal family and issued a “code of conduct” for its members.
Then in 2020, Philip gave up any future personal inheritance he might receive from his father, stripping him of his annual allowance following new details emerged regarding his alleged shady dealings.
The royal palace statement said that the bulk of the king’s personal fortune, regarding 2.3 million euros, is deposits in current or savings accounts, while the rest consists of a collection of artwork, antiques and jewelry.
He explained that the legacy comes from the reward he has received over the past 25 years, first as Prince of Asturias and since 2014 as King.
“The King, guided by a spirit of service and civic commitment, today added to his constitutional responsibilities his personal decision to make public his properties,” the statement read.
The former King of Spain, Juan Carlos, was subjected to three separate investigations into his financial dealings.
Investigations prompted the 84-year-old to flee the country into self-imposed exile in 2020.
Spanish prosecutors suspended all investigations in March, but Juan Carlos announced soon following that he would continue to live in the United Arab Emirates, visiting Spain frequently.