General Franco family abundant wealth

The late General Franco grandchildren control assets that include a palace, 22 homes, 195 garage spaces, 29 country estates, five commercial premises and three rural plots, Spain’s newspaper EL PAIS reports.

The Franco family has a 17% share in Dulcinea Nutrition S. L., which has a catering contract with La Moncloa (pictured), the seat of the Spanish government. Despite earning EUR3 million from public agencies between 2016 and 2019, the company staff has not been paid regularly, resulting in strikes. The Defense Staff, the Higher Council for Scientific Research (CSIC), the Labor Ministry and the city of Málaga have all contracted the services of this company, which is based in Puertollano (Ciudad Real).

The fact that Francisco Franco himself was earning a mere 50,000 pesetas (€300) per year as head of state in 1940 begs the question: where did all this money come from?

According to the Franco clan’s estate administrator, Luis Felipe Utrera-Molina, the inherited wealth had more to do with the dictator’s wife, Carmen Polo. “The Polo family was very rich,” says this lawyer who describes Francisco Franco as a moral man who could not be accused of greed.

The most powerful of Franco’s grandchildren Francis four companies are based in Hermanos Bécquer street. His net assets are worth €44.7 million and he controls 225 properties: 18 homes, one of which is a 349 square-meter house in the middle of Serrano Street, a 1,175 square-meter warehouse in Madrid and five commercial premises, including 259 square meters of office space on Ayala street in the Salamanca district, where a square meter is worth between €8,000 and €10,000. There are also two duplexes in Talavera de la Reina (Toledo) measuring 80 square meters and 109 square meters, respectively.

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