When it comes to Elizabeth II’s net worth, the Sunday Times reported in 2016 that she owns $442.92 million (£340 million) from different sources. If you’re wondering, this does not include online casino Canada real money. So, casino owners in Canada won’t have to worry about this fortune.
According to Business Insider, the Duke and Duchess of Sussex have a combined $30 million wealth, making them the most well-off members of the Royal Family. You may learn a lot about how the British royal family gets their money by looking at the following.
There is a source of funding from the government, and the public pays for it.
To receive the donation, Queen Elizabeth II must give up any income from her family’s vast property holdings, known as “the Crown Estate.” Every year, the Queen receives 25 percent of the revenues from the Crown Estate.
Wall Street Journal reports that the Grant reached $107.1 million (£82.2 million) in 2019.
According to official royal family financial records, the Sovereign Grant covers the costs of royal family travel, palace maintenance, utilities, and royal employee salaries. The Telegraph points out that the funding does not cover royal ceremonial and security expenditures, which are covered by other sources.
In addition, the Queen’s Sovereign Grant of £1.3 million ($1.8 million) was given to the newlyweds, as were grants totaling £461,000 ($627,000) from other ministries of the UK government.
To cover the couple’s official travel and property costs, the Sovereign Grant is used. There are some official abroad travels and military personnel’s wages that the government funds.
Official responsibilities and travel account for around half of their yearly income, while the rest is taxed. Charles’ children, “non-official” purchases, and a royal savings account receive the remaining £6.6 million ($8.9 million).
The Privy Purse
For hundreds of years, the royal family has owned land and other assets known as the Duchy of Lancaster. According to Wall Street Journal UK writer Max Colchester, it has $715 million in net assets (including 18,433 hectares of land) in residential, business, and agricultural properties.
The Journal reports that it took in $27 million (£20.7 million) in revenue in 2019. According to the royal family’s official website, this money is used to pay for expenses that aren’t covered by the Sovereign Grant.
Valuable Lands And Assets
According to Wall Street Journal’s Colchester, who spoke on the Journal’s What’s News podcast on January 14th, the Queen also controls the Balmoral and Sandringham Estates, an extensive art collection, and other significant assets that have been passed down from previous kings.
According to The Journal, Her Royal Highness’s property’s total value is unclear, making it difficult to assess her net worth. According to an analyst who spoke to the Journal, members of the royal family are “millionaires, not billionaires.”
The Queen’s net worth was assessed by The Sunday Times in 2016 at $442.92 million (£340 million). Balmoral Castle in Scotland and Sandringham Estate in eastern England are two of the Queen’s private residences. They both came from her father and are cherished gathering places.
However, her fortune stretches much beyond land ownership. The Queen also possesses an extensive art collection, a significant investment portfolio, and many expensive stamps.
The Royal Collection Trust, a charitable organization, owns the Crown Jewels and several art items intimately linked with the Queen. It is worth noting that the late Duke of Edinburgh received an annual stipend of £359,000 ($488,000) to cover his official work costs. With a further six decades of public service.
The Duchy of Cornwall
Prince Charles and his successors are well-served by the Duchy of Cornwall, one of the many royal estates. The Duchy of Cornwall covers Harry and Meghan, William and Kate, and their children. According to The Journal, Charles paid them a total of $6.5 million (£5 million) in 2019.
Charles was paid $28.1 million (£21.6 million) by the Duchy, according to reports in The Journal. This property is valued at around $1.2 billion (£923.8 million).
Reports in The Journal claim that Queen Elizabeth II and Prince Philip, Prince Charles, and other royal relatives have a firm grip over most of the royal family’s wealth.
The Prince of Wales and the Duchess of Cornwall, officially called, rely on a combination of public and private funds to support their lifestyle.
The Duchy of Cornwall, created in 1337 to provide an income for the heir to the crown, provides almost 90% of their revenue. Property owned by the Duchy of Cornwall includes farmland, urban property, a group of islands, and vacation rentals in regions like Wales and Cornwall. The estate generated £20.7 million ($28 million) for the couple in the most recent financial year.
Personal Investment, Income, And Inheritances
Per the Queen’s website, she utilizes her income to cover her costs. This money is “sourced from her investment portfolio and private estates.” She inherited Balmoral and Sandringham Estates from King George VI.
Sovereigns and other royal family members are entitled to whatever money they earn from their investments and property. According to the Express, several expensive assets belonging to the Queen remain unknown to the general public.
All of the royal properties and artifacts are not owned or controlled by the Queen; they are merely held in her custody while she is acting as sovereign. She cannot sell them and eventually pass them down to her successor.
It is well known that Meghan Markle has her fortune, which she earned before joining the royal family as an actress and social media influencer. In addition, it is well-known that Princes Harry and William inherited money from Princess Diana and the Queen Mother.
It is predicted that the next generation of royals would establish their occupations and be more self-sufficient. Andrew’s two daughters, Princess Beatrice and Princess Eugenie, also work full-time in the business and art fields, as do many other family members. However, their father does provide some financial assistance to the two of them.