MONEY-MAKING KINGS

Evening Star, Issue 22990, 22 June 1938, Page 7

MONEY-MAKING KINGS

EUROPEAN ROYALTIES HAVE WIDE INTERESTS Kings are not always national figureheads content to draw their salaries from the State, and to spend them on a ceremonial life. Kings to-day are often independently, wealthy, or go into business to become so, writes if. C. Hanighen in the ‘ Digest.’Some of them figure- as'- stockholders 'in the great' industries of their, own and other countries. . ' • . . _ History has been made many times through royal adventures in finance. Former King Alfonso’s interest in oil shares led him into conflict with General Primo .de Rivera, and contributed to %e general’s downfall, which in turn led to Alfonso’s loss of his throne. If rumour is correct, large investments in New York property have kept King Alfonso : in comfort during his exile. Queen Wilhelmina of Holland possesses such an enormous block of stock in the Great Dutch trading company that profits from oil and rubber in the Orient that Princess Juliana could afford to reject wealthy suitors and marry the comparatively impecunious Prince Bernard zur, Lippe-Biesterfeld. Most of these members of royalty inherited .large fortunes'and were at least able'to,'put down, some margin at the broker’s. One, however, started with, nothing, and built up an extremely large fortune by his own enterprise. WELL-PLACED INVESTMENTS. This was the late King Alexander of Yugoslavia. His son? the present boy-king Peter, well deserves to be called the “ poor little rich king.” Eomping around in

lonely state with valets and tutors in his great palaces, he enjoys_ an impressive inheritance. He receives an income variously estimated at from £6OO to £I,OOO a day. based on the £4,000,000 which King Alexander amassed.

King Alexander knew a good thing when he saw it. His subservient Parliament voted him one of the largest civil lists in Europe, 5,000,000 dinars, or approximately £250,000 a year. Unable to spend such a vast sum, King Alexander naturally looked around for investments. Ho found one place for his money in the flourishing grape and wine business of Yugoslavia. His business led all competitors. Hotels, cafes, barracks, public institutions of all kinds ■where wine was consumed found it tactful to sell wine from the King’s firms. In cement, machinery, timber lands, King Alexander was a true pati'iot—with dividends.

King Alexander became the greatest individual owner of Packard cars in the world. Starting his rule with one Daimler, he ended it with 25 Packards, some of them bullet-proof. Unfortunately he left these cars at home when he went on the journey to Marseilles where, in 1934, he was assassinated. King Carol of Rumania has also proved his ability as a money-maker. Contrary to general opinion, he is really quite frugal and shrewd in financial matters. His exile in France made him so. Reduced almost to penury, he studied business methods, scraped and saved and managed to live in a small Riviera willa on a remarkably slim income.

When he returned to the throne ho received a civil list of about £73,000 a year. Out of this bo is said to save about £20,000 a year, and not oven the whims of Mine Lupescu caused him to squander more than a little of it. Gossip says he has accumulated a personal fortune bv savings and investments of about £200,000.

Kings possess financial information which puts them in a position to make money. Like King Alexander, King Carol has a great deal of money placed abroad. THE POOR RELATION. King Boris of Bulgaria is the poor relation among European kings. Ho received only £12,000 a year salary. Ho married Princess Giovamia of Italy, who had a dowry of 25,000,000 lira, interest from which approximately equalled Boris’s income. Even with about £24,000, the royal household of Bulgaria remains hard hit. Out of this sum must be paid the expenses of the royal palace, all social functions, and the upkeep of country places. The result is that Sofia has the reputation of being one of the dullest capitals in Europe. Foreign legations and embassies know better than to entertain lavishly or often. King Boris has made it known that he cannot keep up with a gav diplomatic set. Champagne rarely flows at the palace. Besides, he rather exploits his poverty. It makes him shine as a sparing monarch in a very poor country. He tends his rose gardens, pushes the baby prince round in the perambulator, pilots railway engines whenever he goes on trips, and democratically shakes hands with peasants in the streets of the capital. King Zog gets less than King Boris—only £4,000 a year—but considering the small size of his kingdom the salary is not out of proportion. Besides, he has looked after his personal financial interests. As dictator. King Zog has been in a good position to profit from Italian Albania: He has built up a fortune of £300,000 safely invested in Swiss stocks and bonds.