I Really want to Know
Have you ever heard about the Habsburg family? I have not. However, they are one of the most influential families in the world today. How has this famous family escaped my attention? I've never watched Keeping Up with the Kardashians, but I know who they are. I can tell you that Louis XIII became King of France at age nine. However, I had no idea a family that has sustained royal power for almost six hundred years still influences our world today.
Before we begin, I'd like to provide some background on this family and put into context how they operate today.
The House of Habsburg was a European royal dynasty that ruled over a vast empire for over six centuries. As a result, they held the throne of the Holy Roman Empire from 1438 to 1806 (368 yrs.), the Kingdom of Hungary from 1526 to 1918 (392 yrs.),
and the Kingdom of Bohemia (Czech Republic) from 1526 to 1918 (392 yrs.). The Habsburgs also ruled over many other territories, including Austria, Spain, Burgundy, the Netherlands, and Mexico.
The Price of Power
The Habsburgs were one of the most powerful families in Europe for centuries. They played a significant role in European history and were involved in many wars and conflicts that shaped the continent.
Despite their immense power and influence, the Habsburgs lost most of their territories in the early 20th century. In 1806, the Holy Roman Empire dissolved, and the Austro-Hungarian Empire collapsed in 1918, stripping the Habsburgs' titles and lands. Subsequently, living in exile. As a result, the Habsburgs are a family of private citizens. They no longer have any political power but are still wealthy and influential.
Currently
Currently, the family owns many businesses and properties and is active in philanthropy. Here are some of the companies that the Habsburgs are involved in today:
- Domaines Schlumberger is a French wine producer founded in 1849.
- KLM Royal Dutch Airlines: A Dutch airline founded in 1919.
- Österreichische Bundesbahnen (ÖBB): The Austrian national railway company.
- Vienna Insurance Group: An Austrian insurance company founded in 1828.
- Erste Group: An Austrian banking group founded in 1896.
In addition to these companies, the Habsburgs also own several private investments, such as real estate and art. They are also involved in many philanthropic organizations, such as the Habsburg Foundation and the Order of the Golden Fleece.
Georgia Kazantzidu with Karl von Habsburg head of the House of Habsburg-Lorraine, the former imperial and royal House of Austria at her home in Zitternberg, Gars am Kamp, Austria.
Please Sir, May I have some more?
To paint a picture of the wealth of the Habsburgs, you have to look at their total holdings as it relates to the family. Here is a breakdown of their assets:
Real estate: The Habsburgs possess numerous castles, palaces, estates, and other properties across Austria, Hungary, the Czech Republic, and other European countries. The value of these properties could be in the billions of euros, with some iconic landmarks like Schönbrunn Palace in Vienna being particularly a priceless cultural and historical landmark.
Art and collectibles: The family has amassed an extensive collection of art, antiques, and other valuables over centuries. The art includes paintings, sculptures, jewelry, and historical artifacts, potentially worth hundreds of millions or even billions of euros depending on rarity and market value.
Businesses: While their economic influence has diminished compared to their peak, the Habsburgs still hold investments in various companies, including Domaines Schlumberger (wine producer) and Erste Group (banking). The exact value of these investments is unclear, but it could contribute significantly to their overall wealth.
Financial assets: They hold investments in stocks, bonds, and other financial instruments, although details are scarce. These assets could fluctuate in value but add another layer to their financial picture.
Who, Me?
The Habsburgs are notoriously private about their finances, making obtaining accurate assessments of their holdings difficult. They rarely disclose specific figures, further adding to the mystery. Also, valuing their diverse assets can be complex. Real estate, art, and business interests have unique valuation methods and depend heavily on market conditions. However, there's a possibility of undisclosed assets or financial instruments, further complicating estimations.
So, considering these factors, experts and analysts estimate the Habsburg family's net worth somewhere between 20 billion and 50 billion euros in 2022. To put this in perspective, the Habsburgs are in the same wealth area as Jim Walton (Walmart) and Charles Koch (Koch Industries) here in the U.S.
If you follow politics, you know these families actively support lawmakers and their complementary legislation. I wrote an entire article on the Koch brothers and their rise to riches. Remember that we are talking about private businesses and families with immense power.
Bank on It
I have outlined some of the significant businesses that Habsburgs own above. However, they possess a bank (Erste Group) besides an airline and a national railway. Consequently, the bank ownership aids in the total revenue the family takes in yearly. According to Erste Group's Annual Report 2022, the company's total revenue for 2022 was €15.47 billion.
The Erste Group receives supervision from the European Central Bank (ECB) through the Single Supervisory Mechanism (SSM). The SSM is a system of supervision for banks in the eurozone and other participating European countries. It is responsible for ensuring that banks are well-capitalized and prudently managed.
The Erste Group is also subject to regulation by the national central banks of the countries where it operates. These national central banks are responsible for setting monetary policy and supervising the banking system in their respective countries.
In addition to its regulatory obligations, the Erste Group is committed to complying with international banking standards. These standards are set by the Basel Committee on Banking Supervision (BCBS). The BCBS is an international body that develops banking regulations to promote financial stability.
Can you help me?
Who are the 45 representatives of the BCBS? The Basel Committee on Banking Supervision does not publicly disclose the names of individual members, citing confidentiality and privacy concerns. This policy helps to ensure that members can participate in discussions and decisions without fear of personal scrutiny or external pressure.
When we look to the policymakers and governments we turn to for support, it is essential that we also recognize they are people. What would you do to support your family through six centuries? How does wealth and influence play a part in your daily life?
As I continue to research the wealthy and famous, I continue to learn that there are always reasons why events happen globally and in my small town. The connections I see are both financial and regulatory.
Read all About It!
In closing, the Habsburgs are a reminder of the powerful dynasties that once ruled Europe. While they no longer have the same political power they once did, they are still a wealthy and influential family. Their involvement in businesses and philanthropy shows that they are still playing a role in shaping the world today.
It leaves me with this last question: I wonder who their friends are.
The 1907 original board of trustees for the Hamburgische Wissenschaftliche Stiftung. The foundation's work is research in areas that are important to the city's economy and society. These areas include climate change, health care, and artificial intelligence.
In 2023, the family donated €1 million to the foundation to support its work on climate change research. The donation was made by Karl Habsburg-Lothringen, the head of the Habsburg family.
