The millionaire inheritance that explains Felipe and Letizia’s trip to Menorca

King Felipe and Queen Letizia have arranged to go to Menorca, not only for an official visit to the old military hospital and the remains of the early Christian basilica of this small island, but also – above all – for the inauguration of the Llabrés Pharmacya former pharmacy which is one of the few remaining examples of modernist design in Menorca and which has been refurbished as a space for the activities of the Hesperia Foundation.

What the royal house does not say is that both the creation of this foundation and the renovation project of the Llabrés Pharmacy were possible thanks to the legacy, in 2010, of Juan Ignacio Balada Llabrés that in his will he left this and other assets to the then Prince and Princess of Asturias (they were not yet the rulers). The surprise then was great.

The businessman, who died at the age of 69, did not know the royal family personally and no one was aware of his intention to leave a fortune worth around 10 million euros to the princes, his two daughters and his six grandchildren. Passionate about esotericism and the Kabbalah, Balada had written that if the royal family did not accept the inheritance, it would go to the State of Israel.

“I didn’t know them at all. I know that Felipe had many doubts and that for the rulers it was a commitment, but in the end they accepted and have always shown their interest in knowing Mr. Balada’s true nature », he declared a few years ago to Vanity Fair Josep Pons Fraganewspaper reporter Última Hora and businessman’s friend.

Following Mr. Balada’s will, the King and Queen accepted the inheritance and donated 50% of his fortune to the creation of a foundation. Thus was born the Hesperia Foundation, chaired ad honorem by Felipe and Letizia and destined for various philanthropic projects.