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British royal family news shows that the Sunday Times estimated the Queen’s net worth to be $442.92 million (£340 million) in 2016, making her the richest person in Britain.
Elizabeth’s net worth is derived from a grant from taxpayers and two additional income sources. That’s much more than any other members of the Royal Family, including the Duke and Duchess of Sussex, who have a shared fortune of $30 million, Business Insider reported.
Let’s take a look at how the British family actually amasses its wealth.
Every Year, The Queen Gets A Chunk Of Cash From Taxpayers Called The Sovereign Grant
The Sovereign Grant is a chunk of money that comes from the treasury and is basically taxpayer funds according to the BBC.
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There is an agreement that the Queen receives the grant in exchange for giving all profits from the Crown Estate — the family’s massive portfolio of properties — to the government. Every year, the Queen is given approximately 25% of the Crown Estate’s profits.
In 2019 the Grant was $107.1 million (£82.2 million) the Wall Street Journal reported.
The Grant pays for the family’s travel, palace upkeep and utilities, and royal employee payroll.
The Queen’s Private Income Is Called The Privy Purse
Other income comes from the Duchy of Lancaster — a collection of land and other assets that’s been in the royal family for hundreds of years. It contains $715 million (£548.6 million) worth of net assets (including 18,433 hectares of land) and is made up of residential, commercial, and agricultural properties.
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This portfolio was worth 27 million (£20.7 million) in 2019 according to The Journal. The royals use this money to pay costs not covered by the Sovereign Grant, typically for, “expenses incurred by other members of the royal family.”
The Queen Has Additional Valuable Assets That Add To Her Overall Worth
The Queen owns Balmoral and Sandringham Estates, a significant art collection, and other valuable assets that have been passed down her ancestors according to Wall Street Journal’s Colchester.
The total value of the queen’s property is elusive so her total net worth is impossible to calculate according to The Journal. But, a royal finance expert spilled to the Journal that the royal family members are, “millionaires, not billionaires.”
Lastly, The Journal claims that the Queen and her next in line, the Prince of Wales, control the majority of the royal family’s fortune and simply dole out what amounts to an allowance to the rest of the royal family members.
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