It’s a sad day in the history of the British Kingdom as the longest serving Monarch, Queen Elizabeth II has breathed her last on September 8 at the age of 96. With this it is an end of an era in the United Kingdom as 15 Prime Ministers had worked in office during her time at the Buckingham Palace.
Her Majesty has left behind over $500 million as personal assets from her 70 years on the throne. Although, what happens to her fortune is all complex now.
However, what all is owned by her, is more or less the belongings to the Royal Firm, the $28 billion empire that members of the British Royal family like King George VI and Prince Philip once referred to as “the family business”.
Let’s have a look at Queen Elizabeth II’s personal assets and the money of the Royal family:
Queen Elizabeth II had assets over $500 million in personal, this is by far because of her investments, art collections, jewellery, and real estate, as per the Business Insider.
Moreover, Her Majesty the Queen has also inherited nearly $70 million from the Queen Mother when she died in 2002, which includes paintings, a stamp collection, fine china, jewels, horses and much more.
Furthermore, there is also a special legal clause that exempts the Queen from paying inheritance tax on the estate left by her mother which also applies to Prince Charles as well.
However, Prince Charles will not directly inherit the $28 billion empire which includes the estate of Scotland, the Crown Estate, the Duchy of Lancaster, the Duchy of Cornwall, the Buckingham, and the Kensington Palaces. He will only acquire what was specifically designated to him by Queen Elizabeth II.
The total wealth of the Royal family that they make:
The Monarchy PLC holds nearly $28 billion in assets through various entities such as The Crown Estate, and the Palaces, according to Forbes. After that, the Royal family receives 25 percent of the income from the Crown Estate, which is almost worth $19.5 billion, and an allowance called the Sovereign Grant, which is divided among family members, reported Reader’s Digest.
The Sovereign Grant’ is a government-administered annual lump sum fund introduced in 2012, which is given for the monarch’s official duties, and the costs involved in maintenance of the occupied palaces. According to the Oprahdaily, in 2018-19, the total Sovereign Grant amount was 82.2 million pounds (approx. $106 million).
Moreover, if the Sovereign Grant is put aside, there is a portfolio of properties and assets called the ‘Queen’s Privy Purse’ which have been held in trust way back in the 14th century. This provides private income to the Majesty from the Duchy of Lancaster.
According to the website the Duchy of Lancaster, at the end of March 2022, the Duchy of Lancaster had $652.8 million of net assets under its name, which had a net surplus of $24 million.
