The queen is dead, long live the king. This Thursday, September 8, 2022, Elizabeth II died at the age of 96 surrounded by her loved ones at Balmoral Castle, Scotland. The Crown’s death comes just months after celebrating his Platinum Jubilee, which then marked the 70th anniversary of his accession to the throne. The reign of the Queen of England has since been the second longest in the modern era, behind Louis XIV.
She leaves behind not only 70 years of loyal service, but also a devastated family. “The passing of my beloved mother, Her Majesty The Queen, is a moment of very great sadness for me and all of my family. We mourn deeply the loss of a beloved sovereign and a beloved mother.” , King Charles III, his son and successor, said in a statement.
Royalty obliges, the sovereign also leaves behind her a colossal heritage. How high is it?
According to figures from 2018, the Queen of England had no less than 360 million pounds sterling (408 million euros). According to information from CNN Money, a subsidiary of CNN, at least 320 British citizens were richer than her… Forbes, for its part, advanced other figures: Elizabeth II would have up to 530 million dollars. A fortune which dates from the Middle Ages and which is due to the acquisition of territories as well as numerous conquests.
This royal treasure, the queen owes it to several sources of income. Three of them are particularly important: the sovereign grant that she received until then annually, the Duchy of Lancaster and, finally, her personal assets. In particular, there are investments.
According to CNN Money, the Queen received no less than £42.8 million ($58 million) tax-free from the Sovereign Grant in 2016-17 alone. All revenues from the domain of the Crown are paid into the coffers of the government, specifies the site, but a part of the profits (from 15 to 25%) is given directly to the queen: it is one of the forms of the sovereign subsidy. , or royal. Set up by the treasury, it is a lump sum given to the Queen which is paid for by British taxpayers. They thus support the royal family, as Business Insider reminds us.
The Duchy of Lancaster, in the last financial year, brought in £19.2 million, or $26 million. This money is used to “pay official and private expenses” as well as the costs incurred by any other members of the royal family who are required to undertake official engagements on his behalf.
In addition, it also had several properties, such as the castle of Balmoral, in Scotland or the residence of Sandringham, located in the east of England.
Finally, Elizabeth II also had a large stock portfolio. She was also the owner of a collection of precious stamps which would be estimated at 75 million dollars, inherited from her grandfather… But also many works of art.
What about the rest of the royal family? According to CNN Money, Prince Charles and his wife, Camilla, derived the majority (90%) of their income from private estate in Cornwall, where they farm their land. In 2017, that was £20.7 million, or $28 million.
In addition, they also receive monies from the Queen’s Sovereign Grant (£1.3 million, or $1.8 million) and various government departments (£461,000, or $627,000). This income is used to finance the couple’s official trips. They are also used to pay the soldiers employed in their protection.
Princes William and Harry both inherited a chunk of the private fortune from Princess Diana, their mother. Expenses incurred in connection with the Queen’s official duties were also reimbursed.
