A transition and wealth transfer comes with Queen Elizabeth II’s recent passing. How much money was she worth, and how is that money split up? Fortune Magazine has her net worth at $500 million, while a British publication called the Sunday times, compilers of a list of the wealthiest in the UK, has set the number at $430 million. Royal expert Marlene Koenig estimates her Majesty’s personal wealth to be somewhere between $447 and $600 million.
The exact figure is difficult to ascertain as some money is tied into the crown and cannot be used for personal gain.
The Crown Estate, a corporation separate from the British Government and Monarchy estimated to be worth 19.5 billion dollars, holds the Monarch’s property, fine art, and jewels in a trust. Revenue generated is sent to the government, with 25% returned to the monarchy as a Sovereign Grant. That money can only be used for property upkeep and official royal business, including travel to official engagements.
How was all this wealth accumulated? Queen Elizabeth II inherited the massive estates of her father in 1952 and queen mother in 2002 (estimated at $80 million). Her Majesty is credited with building a diverse portfolio of investments, including valuable property (Balmoral Castle in Scotland), rare stamps, art, and farms.
How is this massive chunk of wealth split amongst the Royal Family? According to Koenig, “Everything will be left to Charles.:” The real estate, the artwork, the jewels, and even the horses and stud farm. The reason it all goes to Charles is simple: AVOIDANCE OF TAXES. You read that correctly. Wealth, passing from sovereign to sovereign, is not taxed in the UK. King Charles will re-direct a portion of this wealth to a small group of family members known as “The Firm.” The group includes Queen Consort Camilla, Prince William, Princess Catherine, Prince Edward, his wife Sophie, and Princess Anne. Charles will also oversee the use of the Sovereign fund for all Royal business.
Here’s where things get a little complicated. Title swaps translate to additional wealth for the royal family. According to historian and author Tony McMahon,” Now that William is the Prince of Wales, Charles will pass on the Duchy of Cornwall to him. That’s an estimated $1.3 billion—that’s right, billion. “But Charles picks up the Duchy of Lancaster, owned by the ruling monarch since 1399,” McMahon says. “Its assets were valued in March at £652.8 million [$748 million], delivering a net surplus to the monarch of about £24m [$28 million].”
What about the remaining members of the royal family? Do they get stiffed? Well, not exactly. It’s common knowledge that the Queen had, over the years, set up trust funds for her children and grandchildren. The queen mother had also set up trust funds for her great-grandchildren, possibly increasing this windfall. And finally, WHAT ABOUT HARRY AND MEGAN? Weren’t they cut off from the throne when they left for the US? Not exactly. They were cut off from using the Sovereign Grant because they are no longer considered working royals but are indeed included in the Queen’s inheritance.
