Denmark’s Prince Joachim is said to be more than £4.6 million in debt

Prince JoachimDenmark’s Prince Joachim is said to be more than £4.6 million in debt, after borrowing against his Schackenborg estate.

 

The sixth in line to the Danish throne owes huge amounts in loans against his home estate, Schackenborg, in southern Jutland, according to newspaper Ekstra Bladet.

 

Joachim – youngest son of Queen Margrethe – has reportedly taken out five loans against the castle, the latest amounting to the equivalent of £2.2 million. The reasons behind the Prince’s borrowing were not given.

 

The prince receives a grant of around £342,000 a year from the state and currently lives at the castle with his second wife, Princess Marie – whom he married in 2008 – and their two children, Prince Henrik, four, and Princess Athena, 19 months.

 

Joachim also has sons Prince Nikolai, 14, and Prince Felix, 11, from his first marriage to Alexandra Christina, the Countess of Frederiksborg.

 

Joachim’s debts are not the only money issues with the Danish royals at present, as royal expenditure in 2012 was over the amount given to them by the state. The family receives around £9 million in funding, but spent almost 9.2 million in 2012, although the deficit was covered by the royals’ personal assets, which stand at around £2 million.

 

Søren Kruse, the royal treasurer, said at the time: “What’s important is that our finances are balanced over a several-year period.

 

“We are given a fixed sum that is set independently of our activity level for the year. That is why we have to put a little aside in the years when we are less busy for the years when we are more active than normal.”

Connect with us

Latest Stories

Linkin Park frontman Chester Bennington found dead

Linkin Park frontman Chester Bennington has reportedly been found dead

Jose Chameleone yearns for love on mshamba

"Najua mimi mshamba Wewe mwenye asali kanifundisha kuilamba" These poetic

#WeirdNews: Girl lets best friend sleep with boyfriend to avoid sex talk

A YouTube star let her boyfriend have sex with her best friend to put

Usher paid 1m to settle herpes lawsuit

Usher paid out over $1 million to a woman who accused him of "consciously

Gilad Millo’s gift to Angel Uriel

It’s a celebration of Uriel whom I never had a chance to meet in life,

Rock

Linkin Park frontman Chester Bennington found dead

Linkin Park frontman Chester Bennington has reportedly been found dead

Nothing But Thieves don’t want rock star image

Nothing But Thieves are keen to defeat the rock star image by carving

Kanye to be joined by Chris Martin, 2 Chainz at Glastonbury?

Kanye West will reportedly be joined by Chris Martin and 2 Chainz during

Florence + the Machine replace Foo Fighters at Glastonbury

Florence + the Machine have replaced Foo Fighters as Friday's (26.06.15)

Blur’s Alex James loves ‘smoking hot’ Taylor Swift

Blur's Alex James thinks Taylor Swift is "smoking hot" and admits he has

Hollywood

Hugh Jackman won’t star as Wolverine in Deadpool movie

Hugh Jackman has ruled out starring as metal claw-bearing mutant Wolverine

Vin Diesel explains his love of social media

Hollywood star Vin Diesel believes social media has helped to change the

Watch Leonardo Dicaprio’s “Before the Flood” Full Documentary

8months after winning his long-awaited Oscar honored for his work in The

Wolverine 3 named Logan

Hugh Jackman has shared a poster of the upcoming third Wolverine movie,

Ben Affleck’s Batman year and a half away

Ben Affleck’s standalone ‘Batman’ movie – which he writes, directs