PRINCESS CHARLENE’S ‘BIG-BUCKS’ BUDGET
Claude expressed alarm over the princess’ spending. In one diary entry from 2019, he estimates Charlene, mom to nine-year-old twins Prince Jacques and Princess Gabriella, spent “around €15 million (R300 million)” since marrying Albert in 2011.
This is double her annual allowance of €1,5m (R30m), he notes. “It’s crazy! I have no control over the Princess’s spending.”
In April 2016, he says, Her Serene Highness demanded €66 000 (R1,3m) in just one day.
He claims she also spent €860 000 (R17,2m) on doing up her office at the Pink Palace and a further €826 000 (R16,5m) on redecorating her holiday villa in Corsica.
The princess, he continues, expected the palace to fund her clothing shopping. “Charlene wishes to buy dresses.
I have indicated to her that there is no budget for that, it is a private expense.”
However, a source close to the situation tells YOU this is a “misrepresentation of the facts”.
“These figures are exaggerated. As the wife of the head of state, Charlene has to represent the monarchy. This means she has to look the part when she attends high-profile events.
“As princess, she receives an annual allowance that is hers to use at her own discretion. She is also entitled to decorate her office or home. That was never a secret.”
Albert certainly would be able to pay for a designer dress or two. He’s one of the richest royals in the world. According to Business Insider, he owns about a fourth of all the land in Monaco, has shares in casinos and resorts and has an extensive collection of art, vintage cars and a rare stamp collection.
In 2019 the business publication estimated his net worth to be about $1bn (R24bn).
Albert’s lawyer Jean-Michel Darrois, has rubbished any allegations of financial impropriety.
“All expenses over and above any official allowances were met by the prince’s private funds and did not affect the palace budget,” he says.
Monaco taxpayers do pay for a portion of the royal family’s expenses, of course. In 2022 “sovereign expenditure” in the country’s national budget amounted to €50million, according to Monaco Statistics. This is about 2,5% of the principality’s total annual budget.