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38-year-old Princess Madeleines, her husband Chris O’Neill, 46, surprised many Swedes when he chose a continuing financial career over a princely title.
In his bio on the royal family website, Chris O’Neill’s CV is lined up. An MBA from Columbia Business School is described as the beginning of a successful career as a financial analyst.
But what Chris O’Neill has done since leaving his job as head of research at hedge fund company Noster Capital in 2013 is not mentioned at all by the Royal Family.
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Chris O’Neill himself has said in interviews that he has changed course and has stopped working with private clients to instead work with electronic payment solutions for larger companies.
In 2013, Princess Taste started her company Wilton Payments Ltd, which has precisely this business idea.
The company is registered with Chris O’Neill and his brother-in-law John d’Abo as shareholders. Chris O’Neill owns only 42.5 percent, but he controls the company and represents the company’s US operations.
– We have built a company from scratch, where the focus is on providing a service that provides our American partners with business opportunities on the other side of the Atlantic: these are large American banks, which we help in the search for clients, which are all companies from different industries. : They can be fashion companies, hotel chains and gas station conglomerates. We help them optimize their payment models, he said in an interview with King Magazine 2018.
Chris O’Neill’s company is in debt
Expressen has previously reported that the business has been in a loss for several years.
The latest submission by Chris O’Neill’s company to the British equivalent of the Swedish Business Registration Office states that Wilton Payments does not need to prepare a full annual report, due to the fact that it is such a small company.
The figures that still exist show how the company’s assets have drastically decreased from 2018 to 2019, but also the company’s liabilities have decreased, by the equivalent of 1.5 million SEK to just over 3.3 million SEK .
A larger loss may be due to investments made that will hopefully pay off in the future. But one thing is for sure: Wilton Payments, according to the latest accounts, has not been a source of income for Chris O’Neill.
– I’m working in it. It takes longer than you think to develop these types of payment solutions with large companies. You can have a good idea and continue in the same process three years later, Chris O’Neill told Expressen a few years ago.
According to the Royal Family, Chris O’Neill has also invested independently in several startups. But it is not indicated which companies they belong to or in which sectors they are.
Left Europe: for luxury living in Florida
In the summer of 2018, Princess Madeleine and Chris O’Neill packed their bags and left England for sunny Florida in the United States.
Many assumed they would move into Chris O’Neill’s 309-square-meter villa in West Palm Beach, but instead Expressen was able to say the house sold for just over 32.5 million SEK. Thus, Chris O’Neill made a profit of SEK 14.9 million.
For 16 months, the family chose to rent an exclusive villa in Pinecrest, a lush residential area outside Miami with one of the most expensive postal addresses in the country. The advertised rent for the 700-square-meter house was almost SEK 180,000 per month.
New villa of 30 million
There are now many indications that Madeleine and Chris intend to stay in the United States permanently with their children, Princess Leonore, 6, Prince Nicholas, 5, and Princess Adrienne, 2.
– The family lives there and has settled, the children go to schools and kindergartens. They are not thinking of any changes, says the court’s chief information officer, Margareta Thorgren.
Recently, the family took another step towards arraigo, when they bought and moved into their own villa in Pinecrest.
Documents that Expressen has read reveal that the new house was bought in December 2019 for almost SEK 30 million. The villa has two floors, a living area of about 600 square meters and a total of 15 rooms. There is a large garden, including a pool area with a terrace to the rear.
Officially there is a special company, the so-called LLC (limited liability company). behind the deal. It was formed a month before the purchase of the house.
This is a smart and common way to buy real estate if you want to remain anonymous and hide from the actual owner. When using an LLC, the broker signs a confidentiality agreement and the attorney associated with the company is not required to declare who is behind it.
