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Investor and business tycoon Juan Ignacio Balada Llabrés, from Menorca, died in his home town of Ciutadella on November 18, leaving his fortune to the Prince and Princess of Asturias and the King and Queen's eight grandchildren.
Prince Felipe and Princess Letizia say they did not know the deceased.
They had never heard of him until they were told they had inherited his multi-million-euro estate.
Half of the money is to go directly to Felipe and Letizia, their children Leonor and Sofía and the girls' six cousins, and the other half is designated to Prince Felipe to set up a charitable foundation of his choice.
The Royal Family says it is unaware of the exact sums involved, or whether there are any family members of the late tycoon who may come forward to claim the money.
He is said to be the only son of pharmacist Catalina Llabrés and business-owner Ramón Balada, who are now deceased.
The estate comprises both urban and agricultural land and buildings – including the house pictured - property investments and stocks and shares.
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