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King Frederik X and Queen Mary of Denmark scored a huge pay rise in 2024, earning 127,204,119 Danish kroner, equivalent to just under AUD$30million, this past year.


The astonishing figure was an almost ten-fold increase from the previous year, when the royal couple received an annual allowance totalling around AUD$3milion.

But there's a good explanation for why the royal couple received such an eyewatering pay rise last year - it coincided with Frederik and Mary's promotion from Crown Prince and Crown Princess to King and Queen in January 2024.

The details about the royal couple's earnings and finances were recently made public after the Royal House of Denmark published their annual financial report.

The report provides a balance sheet breakdown of the income and expenses of the Danish royal family throughout the past year.

This year's report offered details of Mary and Frederik's finances, explaining that 125 million kroner, which is about AUD$28.5million, of their annual salary came from state funds, known as the parliamentary allowance or Royal Civil List.

The royals also pocketed an additional 2.1million kroner or AUD$481,000 of income, which comes from miscellaneous earnings like ticket sales for tours of Fredensborg Palace, renting out other royal residences and the sale of cars.

In 2024, the King and Queen were also afforded an additional 'extraordinary subsidy' of 28.7million kroner, equivalent to approximately AUD$6.5million.




King Frederik and Queen Mary of Denmark earned ten times more in 2024 compared to 2023 since ascending the throne

This one-time grant is designed to help with the costs associated with the changeover of the throne and other 'succession and future ******' expenses.

The report detailed that the special budget was used towards things like 'replacement of uniforms and monograms' as well as 'changes to decorations and medals' to reflect the new reigning monarchy. 

The one-off payment is also designed to accommodate staffing changes for the new monarch, with the funds used to both employ new staff and potentially facilitate retirements and resignations of employees who formerly worked under the previous monarch.

The special payment was also used on things like refurbishing royal office spaces and making changes to IT systems and IT security.

Surprisingly, the report also detailed the relatively inexpensive cost of King Frederik's ascension to the throne on 14 Jan 2024 - with the coronation event reported to have cost only 6.5million kroner, or AUD$1.5m.

When it comes to how the royal's spent their annual earnings, the report explained that some of the big-ticket costs included 71,578,910m kroner (AUD$19million) on personnel expenses, 18,287,903m kroner (AUD$2.8million) on operating expenses, 17,053,971m kroner (AUD$2.6million) on administration and 6,753,181m kroner (AUD$1.1 million) on property expenses.


King Frederik and Queen Mary are also allocated a private spending cap of 17million kroner - or around AUD$2.9million - for personal expenses related to their family's activities and daily life. 

These expenses are considered private in nature and not connected with their official duties.




King Frederik and Queen Mary have a private spending cap of 17million kroner (approx. AUD$2.9million) for use on private family expenses



This year, the royals didn't quite spend all of the allocated amount of their designated private funds.

The private expenditure cap was also adjusted upwards from the previous year during Queen Margrethe II's reign. It was raised to reflect Mary and Frederik having a bigger family with four children.

Interestingly, the Danish royal family are also exempt from paying tax on their income and earnings.

According to the latest financial report, the 2024 accounts were considered 'satisfactory' by auditors.

The report alluded to the fact that overall expenses were more than usual, noting that the balance sheet reflected 'a high level of activity' resulting from 'special one-off expenses and investments' that are 'connected with the establishment of The Royal House of Denmark's new organisation'.

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