Queen Elizabeth II passed away on Thursday at the age of 96, having ruled the United Kingdom for over seven decades. Charles, her son, is now the country’s ruler and will be known as King Charles III.
The Queen has left King Charles a vast wealth in personal assets, which he will now inherit. But what was the Queen’s net worth at the time of her death, and how did she get it? Find out by reading on.
Queen Elizabeth’s Wealth
According to estimates, the Queen’s estate is worth about $500 million. A significant chunk of the Queen’s wealth is really owned by the Royal Firm, a 28-billion-dollar conglomerate, making it somewhat difficult to comprehend royal economics.
Queen Elizabeth II derived her income from a taxpayer fund known as the Sovereign Grant, which is distributed annually to the royal family. The original name of the fund was Civil List, however it was changed in 2012.
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In 2021 and 2022, the fund amount was set at 86 million pounds. The funds were allocated for the Queen’s official travel, property maintenance, and the operation and maintenance of Buckingham Palace.
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The Queen Belonged to the Royal Firm.
The Queen was also a member of the Royal Firm, commonly known as the Monarchy PLC, which consists of senior members and public figures of the House of Windsor, the current royal family. Through broadcast events and tourism, the group contributed millions of pounds to the economy of the United Kingdom.
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As of 2021, the group possesses $28 billion in assets, including $19.5 billion from the Crown Estate, $4.9 billion from Buckingham Palace, $1.3 billion from The Duchy of Cornwall, $748 million from The Duchy of Lancaster, $630 million from Kensington Palace, and $592 million from The Crown Estate of Scotland.
The fund’s objective is to stimulate the economy, and the family does not profit from the enterprise. However, they can benefit from the complimentary media coverage and royal warrants.
An online book of condolence is available on our website where you can send a tribute to Her Majesty The Queen:
— The Royal Family (@RoyalFamily) September 11, 2022
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The Queen’s Further Estates and Land Holdings
The Crown Estate, which is a collection of estates and holdings belonging to the British monarchy and retained by the monarch, was another source of income for the Queen. This is administered by a semi-independent public body and is not the monarch’s private property. In 2021-2022, the estate reported a net revenue profit of $312.7 million.
A portion of the revenue’s earnings is also used to support the Sovereign Grant, which was set at 28% for the 2017-18 fiscal year and is scheduled to decrease to 15% by 2028. The Queen’s Privy Purse is an additional asset consisting of lands held in trust dating back to the 14th century, which served as a private source of income for the Queen from the Duchy of Lancaster.
“At the end of March 2022, the Duchy of Lancaster controlled net assets worth $652,8 million, resulting in a net surplus of $24 million. This consists of property and financial assets, according to a statement on their website. hsurplus funds are paid directly to the monarch.
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