Another one of Europe's seven reigning royal houses has gone through a generational change. After the Netherlands (2013), Belgium (2013), Spain (2014) and Britain (2022), it is Denmark's turn: 83-year-old Queen Margarethe II has handed over the scepter to her son Frederik on Sunday, January 14, 2023, after exactly 52 years on the throne.

The surprise announcement from the Danish royal family follows a trend. With the exception of Britain's royal family, many monarchs no longer die on the throne. Instead, they retire and make way for their children.

At 55, Frederik of Denmark has already spent a lifetime preparing for the job. But it is one that, according to his biographer, he has been reluctant to assume.

"I don't want to be king," he is said to have shouted to his nanny as a child.

Frederik's wild days as a rebellious "party prince" have long since passed. He and his Australian wife, Mary, have produced heirs to the throne, guaranteeing the continuation of the oldest royal dynasty in Europe. His subjects seem to approve, with polls finding that 80% of Danes are satisfied with their ruler.

Swedish Crown Princess Victoria and Norwegian Prince Haakon are next up for their respective thrones. Victoria is in line to take over from her father, Carl XVI Gustaf, who has been on the throne for over 50 years. Haakon would replace his 86-year-old father, King Harald V, who now rarely appears in public because of his ill health.

French President Macron is also a prince

In Europe, kings and queens have generally ceremonial roles, with scant political power. This applies to the princely houses of Luxembourg and Liechtenstein, along with the dwarf state of Monaco, where Prince Albert II has a relatively strong position. Another dwarf state, Andorra, tucked between the high valley of France and Spain, always has two co-princes who act as heads of state. One prince is the Spanish bishop of Urgell; the other is the president of France. This means that Emmanuel Macron is not only currently the president of the Republic of France, but also a prince in the parliamentary democracy of Andorra.

The only elective monarchy in Europe where the throne is not hereditary is the Vatican. Pope Francis not only heads the Catholic Church, but is also the absolute ruler of the world's smallest state: Vatican City.

"I think most citizens of states with a monarchical order actually enjoy their monarchy," University of Potsdam historian and royals expert Monika Wienfort said.

There have been no serious efforts to abolish this form of government in the seven sovereign royal houses and five principalities in Europe. Resignations and successions have been seamless apart from minor protests by republican-minded groups, she said.

King Charles: 'We're a soap opera'

Royalty has persisted throughout Europe wherever there were no revolutionary upheavals, such as those in France, Italy, Austria or Germany. As almost all royal houses are somehow related to each other, and chiefly to German nobility, there would always be the possibility of moving in with relatives in a pinch, Wienfort said.

Royal houses thrive on tradition, gossip, scandals and the public display of a happy family life, increasingly free of pomp and glitter.

"I think we're a soap opera," the United Kingdom's then Prince Charles said about his family in 2008.

His father, Philip, once also described the Windsors as a company tasked with producing beautiful images to aspire to in return for taxpayers' money.

43 monarchies globally

The monarchy model rules in 22% of the countries in the world, or 43 of the 194 formally recognized states. In addition to in Europe, monarchies can be found in the Caribbean, Africa, the Middle East and Asia.

Many date back to the British Empire, and the British king is still the head of state in 14 countries outside Europe — including Canada and Australia. Japan is the only empire in the world, though the Tenno has purely ceremonial duties in the country's democracy.

In six countries, the monarch, sheikh or emir is the absolute ruler without parliamentary or judicial control: Brunei, Oman, Qatar, Saudi Arabia, Eswatini (formerly Swaziland) and the aforementioned Vatican City. In some countries, such as Jordan or Morocco, the king has political power determined by the constitution.

In Asia, Malaysia has the only major elective monarchy, currently held by Sultan Abdullah Sultan Ahmad Shah, determined by the sultans of the country's nine provinces. In the United Arab Emirates, the office of head of state also rotates among the emirs, the authoritarian leaders of their respective principalities.

There is no tabloid press in the Middle East to publicly report royal dramas, but gossip about monarchs is big business in Europe. The market leader is still the British royal family, even without the queen, who reigned for 70 years and died in 2022. Public interest in the family dramas surrounding King Charles; his sons, William and Harry; and wife, Camilla, remains steady.

"The fascination stems from the spectacular in the everyday," Wienfort said.

The royals do completely normal things such as marry, raise children and die. But their biographies are luxurious, or even pompous, she said. People want to look at carriages, uniforms, dresses and castles, even if they don't feel any particular awe.

Being a monarch is also fairy tale-level lucrative. The richest king in the world, Thailand's Rama X, is worth $30 billion to $43 billion (€27.3-€39 billion), according to estimates by US business magazines. Europe's richest prince is Hans-Adam II of Liechtenstein, with about $3.5 billion. UK King Charles III has a private fortune of $1.8 billion (€1.6 billion).

Margarethe II of Denmark handed over a comparatively meager $30 million in the crown's coffers to her son Frederik, though it would certainly be enough to hold a veritable court. It's also still significantly more that what the Spanish king has to make do with — just $10 million, putting him in last place among royals in Europe.

This article was originally written in German. It was updated on January 15, 2024, to reflect that King Frederik has ascended the throne in Denmark.