Yahoo Finance Here's How Rich the Royal Family Reportedly Really Is
While the Royal Family is by no means the wealthiest in the world - in fact, according to The Sunday Times, the Queen isn't even among Britain's richest 300 - they do okay. And by "okay," we mean we'd take their net worths and run for the hills.
Believe it or not, most of the money used to fund the British monarchy - which costs $368 million per annum - doesn't come from the taxpayer. Queen Elizabeth II and the rest of the royal family are wealthy all on their own, thanks to the combined sums of inheritances, crown estates and allowances. You might want to grab a cup of chamomile tea before continuing.
Queen Elizabeth II
Net worth: $425 million
That pretty number includes the $65 million Sandringham House and $140 million Balmoral Castle that the Queen owns outright - she inherited both estates from her father, the late King George VI. Queen Elizabeth's "salary," the (fluctuating) sum that she collects yearly, is comprised of two main sources - the Sovereign Grant (which is tax payer funded) and the Duchy of Lancaster.
The Sovereign Grant is conditional - the Queen surrenders all profits from the Crown Estate, a massive collection of land and holdings in Wales, Ireland and Scotland, in exchange for 15% of the Crown Estate's net revenue from two years prior. According to Business Insider, based on that formula, the Queen made $48.9 million in 2015. That number isn't carved out of the Estate's net profit, however - it's generated by taxpayer funds. In 2016, Parliament agreed to raise the Queen's Sovereign Grant "cut" to 25% for the next ten years to cover the costs of a controversial $369 million renovation to Buckingham Palace.
The Duchy of Lancaster is another collection of properties (entirely separate from the Crown Estate!) used to generate the Queen's private income, called the Privy Purse. Comprised of 45,549 acres, the Duchy of Lancaster generates around $20 million a year and is used to cover the costs the Sovereign Grant does not - namely, those of the Queen's family. The Queen also has private collections of valuable art, furniture and jewelry, which Forbes estimates at $110 million, and multiple racehorse stud farms.
Prince Philip, Duke of Edinburgh
Net worth: $30 million
While Queen Elizabeth most certainly is the breadwinner, Prince Philip receives just over $442,000 a year as determined by the Sovereign Grant for, well, just being royal. According to a U.K. Government site, Prince Philip uses part of his salary to "to meet the expenses of carrying out his public duties in support of the queen."
Prince Charles, Duke of Cornwall
Net worth: $100 million
Prince Charles - next in line for the throne - receives most of his income from the Duchy of Cornwall. Reserved for the monarch's oldest child, the Duchy of Cornwall (much like the Duchy of Lancaster) is generated from a percentage of the profits from 135,000 acres of real estate holdings in the Southwest England. While Prince Charles doesn't own these properties outright, he is the the land's sole beneficiary - he also pays taxes on this income each and every year. Averaging about $20 million per annum, this income sustains Prince Charles and his children, including Kate Middleton, Prince George and Princess Charlotte.
Prince William, Duke of Cambridge and Prince Harry of Wales
Net worth: $40 million, each
Most of Prince William and Prince Harry's net worth is made up of a $10 million inheritance left to them by their mother, Princess Diana - starting at the age of 21, both sons gained access to the $450,000 per year investment profit and each received their share on their 30th birthdays. William and Harry also receive a cut from the Duchy of Cornwall - managed by their father - which acts as an allowance and covers most of their "royal costs" (including staff, travel expenses and official wardrobes). Between William, his family, and Harry, this "allowance" came to a whopping $4.6 million in 2015. Until 2017, Prince William also served as an air ambulance pilot, where he made just over $60,000 per year.
Catherine Middleton, Duchess of Cambridge
Net worth: $10 million
Although Kate Middleton isn't royal by blood, she did come from considerable wealth. It's unclear whether or not any of her net worth is derived from the Middleton's U.K. party planning business, Party Pieces, but if it is, that accounts for around $5 million. In addition to having virtually all expenses paid by her father-in-law, most countries that she and Prince William visit pay for their travel costs, which cuts her and her family's spending down even further.
If you were expecting the Duchess of Cambridge's net worth to be higher - she is a fashion icon after all - in some ways, it is. While she may have saved $10 million over the years, her worth to the country (calculated by the tourism, clothing sales, etc. she generates) is much higher - we're talking $7.2 billion. At the end of the day, both numbers are huge. We'd take either, no questions asked.
Prince George and Princess Charlotte
Net worth: $8 billion, combined
Even though Prince George (worth $3 billion) came first - and will, you know, be king someday - his little sister is worth nearly double at $5 billion. This is mainly due to the fact that she's a girl and is anticipated to drive more fashion sales (like her mom!) over the course of her life. If you're thinking, "Why is a royal baby worth more than the Queen?" we hear you. Since the royal children haven't physically received inheritances, worked or established allowances, their net worths are calculated by their value to the UK economy. It's estimated that Princess Charlotte will drive $5 billion in sales - not that she has $5 billion in the bank. But honestly, how funny is it to image little Charlotte with a debit card?
[h/t AOL]
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