In 2022, King Felipe VI surprised the country by publicly revealing the value of his assets, an unprecedented gesture in the history of the Spanish Royal Household. This action marked the beginning of a new era of institutional transparency. However, three years have passed since then without the monarch updating this financial information.
Transparency and commitment in the Crown
At that time, the father of the Princess of Asturias announced that his assets amounted to 2.57 million euros. The decision to make this data public replied to the commitment to renewal and transparency that the Crown had expressed. The declared assets included deposits in checking or savings accounts, as well as securities representing participation in the equity of various entities. In addition, works of art, antiques, and personal jewelry were included, all of which were properly appraised at the time.
Although the law doesn't require the king to publish his assets, Felipe VI chose to do so voluntarily. In that context, media attention focused on his father's business dealings and the current monarch's partial renunciation of his inheritance. The official statement from the Royal Household explained that, guided by the "spirit of service and civic commitment," Felipe VI added "to his constitutional responsibilities his personal decision to make his assets public."
No update after three years
Since the publication of this data, the king has not updated the figure of his assets. While in his initial statement he did not commit to making annual updates, he also did not rule out the possibility of doing so in the future. This raises the question of whether, in these three years, there have been no significant changes in his assets or if he has simply decided not to report the updated figure.
It is important to note that, at that time, only Felipe VI made information about his assets public. Neither Queen Letizia nor the Princess of Asturias, who reached the age of majority in October 2023, followed his example. From the Zarzuela Palace, it is indicated that for now it is not known whether the king will make this information public again. Nevertheless, it is emphasized that the publication of this data was a personal initiative of Felipe VI, both in his role as head of state and as a taxpayer.
Distancing from his father
Felipe VI's decision to disclose the value of his assets also sought to draw a clear distinction from his father, Juan Carlos I, who never made this information public. The emeritus king was investigated for his tax activities, although his case was ultimately closed. Inviolability, the statute of limitations for offenses, and the tax regularization carried out with the tax authorities were the reasons that led to this resolution.
Ultimately, the transparency initiated by Felipe VI in 2022 represented a significant change in the Royal Household. However, the lack of updates in the past three years has raised questions about the continuity of this policy and about the current status of the monarch's assets.