Finances for the Spanish Royal Family Have Been Released

The palace released detailed information regarding the members of the Spanish royal family’s finances on Wednesday, December 28, 2011.  His Majesty King Juan Carlos I earns $382,597 a year and His Royal Highness Prince Felipe of Asturias earns $191,297. The palace said that of His Majesty’s gross income, just under half was his personal salary and the rest was designated for expenses. The king pays 40% in tax on the total sum.

Her Majesty Queen Sofia and Their Royal Highnesses Princess Cristina, Princess Elena and Princess Letizia receive $483,553. The palace is assigned an annual budget by Parliament which totaled $11 million in 2011.

Source: The Associated Press

Photo courtesy of Casa de Su Majestad el Rey