Although the king, as regent, took part in the conduct of government by attending council meetings, he was afflicted by alcoholism and most of his rule was dominated by very able ministers such as A. Count Moltke's appointment as Lord Chamberlain - an office that had previously been a mere court post - was now an outstanding position that gave Moltke opportunity as the king's confidential friend to be around him from morning till night, with the king talking to him about whatever was on his mind, which enabled Moltke to make his influence felt in all areas where he pleased.One of his main tasks was to take care that his dissolute Majesty didn't damage the Royal household's reputation with his constant orgies.
This change was influenced by his first wife, and in 1748 Nicolai Eigtved's Komediehus (Playhouse) on Kongens Nytorv was opened, and the Royal Danish Academy of Art (Det Kongelige Danske Kunstakademi) in Copenhagen was also founded under his name and officially inaugurated on 31 March 1754, his 31st birthday.
Frederick purchased what would become known as the Danish West Indies from the Danish West India Company in 1754.
Frederick's main interest was primarily the arts of war that rivalled the anti-military attitudes that characterized his counsellors; he enjoyed hunting and stayed often at the Jægersborg Dyrehave estates.
Art and science prospered under his reign, and although he wasn't personally interested in cultural affairs, the public entertainment and freedom of expression that had been banned under the pietistic hypocrisy (characterized during his father's reign) was again permitted.
Within one hundred years of his time, Denmark faced the crisis of his male issue (the main branch of the Royal House) becoming extinct.
This created a succession crisis beginning from his grandson's reign that affected both Denmark and Schleswig-Holstein.
Meanwhile, Frederick continued to enjoy random liaisons with others. During the years 1746-51, the king had a favorite named Madam Hansen who bore him five children. These men marked his reign by the progress of commerce and the emerging industry of gunpowder plant and cannon foundry in Frederiksværk, built by Johan Frederik Classen.
The Norwegian Masonic historian Karl Ludvig Tørrisen Bugge claims that Frederik V as crown prince was included in the Copenhagen Masonic Lodge St. This was probably third June 1744, and inspired by the Prussian king Frederick the Great who was also included in a masonic lodge in his youth. They also avoided involving Denmark in the European wars of his time.
The marriage was frowned upon by the people who saw it as too early for the King remarry.