King Philip V was the first Bourbon king of Spain, reigning from 1700 to 1724 and then again from 1724 to 1746. He came to the throne after the death of the last Habsburg king, Charles II, and his ascension led to the War of the Spanish Succession. Philip's rule marked the beginning of a new dynasty in Spain and significant changes in the country's governance. During his reign, Philip V implemented various reforms to modernize Spain, including centralizing power and promoting trade. He also faced challenges, such as regional uprisings and conflicts with other European powers. His legacy includes the establishment of the Bourbon dynasty, which continues to this day.