| Net Worth: | $50 Million |
|---|---|
| Date of Birth: | January 5, 1938 (86 years old) |
| Gender: | Male |
| Profession: | Politician |
| Nationality: | Spain |
What is Juan Carlos’s Net Worth?
Juan Carlos is a member of the Spanish royal family and a politician who has a net worth of $50 million. His reign as King of Spain from November 1975 to June 2014 is what most people remember him for.
In the midst of a financial scandal that ultimately led to his exile from Spain in 2020, he abdicated the kingdom in 2014.
Childhood
Juan Carlos was born in Rome, Italy in January 1938. Juan Carlos, a member of the House of Bourbon, was conceived by Princess Maria de las Mercedes of Bourbon-Two Sicilies and Infante Juan, Count of Barcelona.
After the Bourbon line was expelled from Spain in 1931, there was no king for almost 40 years. Francisco Franco, the dictator, nominated Juan Carlos to take over in 1969. Juan Carlos succeeded to the throne after the death of Franco in 1975.
Juan Carlos launched the transition to democracy and assisted in overthrowing the Francoist dictatorship. With the 1978 adoption of the Spanish Constitution, a constitutional monarchy was established. In 1981, he assisted in stopping a serious military coup.
In addition, Juan Carlos presided over the Ibero-American States Organization, which had 24 members and a combined population of more than 700 million. In 1962, Juan wed Princess Sofia of Greece and Denmark. The pair is blessed with three children and eight grandkids.
Abdication
In 2014, Carlos handed the kingdom over to his son Felipe VI. Following a financial controversy involving his daughter Infanta Cristina and her imprisoned husband Inaki Urdangari, he decided to give up the thrown.
Carlos never entirely recovered from a contentious elephant hunting expedition in Botswana that same year that was paid for by taxpayers. He injured his hip while on vacation, shattering the secret nature of the trip, which was then made public.
Spain was going through a serious financial crisis at the time. Juan Carlos and Sofia kept their regal titles and etiquette after abdicating.
Personal Wealth
Juan Carlos had virtually no personal wealth when he ascended to the throne in the late 1970s. For the reigning King of a European nation, that lack of riches was rather rare.
As a deal maker and ambassador for Spain, he gradually accumulated sizable personal wealth by frequently stepping in to smooth over rough edges and establish introductions.
These riches exceeded the $11 million annual budget that Spanish taxpayers provided for him to sustain his lifestyle. It has been calculated that the combined wealth of the Spanish royal family might reach $2.3 billion.
This number is disputed by the family, who claim that it is exaggerated by the inclusion of priceless government-owned assets that the family utilizes.
Although there is no legislation prohibiting a Spanish king from taking presents, over the years he has been given automobiles, yachts, and even an island house. Juan Carlos allegedly owns more than 50 vehicles in his collection.
Exile and Corruption Charges
In March 2020, King Felipe decreased his father’s yearly allowance to $228,000 and renounced any personal inheritance he might have inherited from his father related to the Saudi agreement in an effort to clear the family name and lead the royal ship in a new direction.
Juan Carlos’ exile was verified by the Spanish royal family in the middle of 2020. Former Queen Sofia remained in Spain, but it was not immediately clear where Juan Carlos was. Juan Carlos assured his son in a letter dated August 3, 2020, that he would be accessible to law enforcement officials looking into his business transactions.
Saudi “Donation”
The Spanish Supreme Court revealed it was looking into Juan Carlos’ role in an $8 billion high-speed rail construction contract that was given to a Saudi business just three months before his exile was officially confirmed.
The King of Saudi Arabia allegedly gave Juan Carlos a $100 million “gift” in 2008, which was put in an offshore account, according to later accusations made by the prosecution.
Juan Carlos allegedly gave Corinna Larsen a $75 million gift in 2012, paid for using this offshore account. Then, it is claimed that this money was used to pay for, then remodel, two flats at a posh Swiss ski resort as well as to pay $6.4 million for a property in North London.
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