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The crown will be passed to her eldest son, Crown Prince Frederik, on January 14, 2024.
Though not as widely known as the British royal family, Denmark's royal family has had its share of drama and scandal in recent years.
Here's what you need to know about Queen Margrethe II, Denmark's abdicating ruler.
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Queen Margrethe II was born on April 16, 1940.
Denmark's King Frederik IX and Queen Ingrid holding their 2-year-old daughter Princess Margrethe, who will become Queen Margrethe II.UKENDT/AFP via Getty Images
Margrethe became queen on January 14, 1972, after the death of her father.
Queen Margrethe in 1972.ullstein bild/ullstein bild/Getty Images
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Margrethe is the longest-serving current head of state in Europe and the longest-serving current female head of state in the world.
Queen Margrethe waves from a balcony.Luca V. Teuchmann/Getty Images
Margrethe was married to Henrik, Prince Consort of Denmark, for 50 years before his death in 2018.
Queen Margrethe with her husband Prince Henrik of Denmark attend her 77th birthday celebrations at Marselisborg Palace on April 16, 2017.Patrick van Katwijk/Getty Images
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There is a reported rift between Margrethe and her youngest son, Prince Joachim.
Queen Margrethe flanked by Crown Prince Frederik, left, and Prince Joachim, right.Julian Parker/Getty Images
Queen Margrethe II announced in her 2023 New Year's Eve speech that she was abdicating the throne and that her eldest son, Prince Frederik, would succeed her.
Queen Margrethe of Denmark leads the cheering for Crown Prince Frederik of Denmark /L- 3rd) on the Amalienborg Palace square on the occasion of his 50th birthday on May 26, 2018 in Copenhagen, DenmarkOle Jensen/Getty Images