Have you ever heard of a family that refers to itself as a company? That’s right. King George VI said that the royal family is not a family; it is firm. With a net worth of $28 billion, the British royal family is among the wealthiest monarchies in the world.
The crown, or the Monarchy PLC, is a private entity independent of the royals’ personal wealth. But it would not exist were it not for the personal wealth of the royals.
The firm comprises the royals and its related institutions. Inside the firm are private secretaries and communications consultants. You will also find heads of household, ladies in waiting, and gardeners in the royal family. Every entity of the royal family has chauffeurs and domestic servants.
The Firm
The British Royal Family also called the firm, is worth $28 billion. This massive empire channels billions of dollars into the British economy yearly.
The firm boosted the British economy by $1.5 billion during prince harry’s wedding. The Royal economy puts an estimated $2.7 billion into the United Kingdom economy annually.
The Royal warrant is another example of the royal family supporting the U.K. economy. This warranty is granted to people or companies to recognize their services. Through the royal warrant, a brand can boost its revenue to great heights of success.
In 2015, the U.K. economy benefited up to $5.5 billion from royal warrant holders.
Queen Elizabeth
Queen Elizabeth II passed away on September 2022 at her castle Balmoral. She was the longest-serving monarch in British history. She left behind a massive net worth of around $600 million.
Queen Elizabeth II’s vast wealth came from her massive art and jewelry collection. Queen Elizabeth II’s eldest son, Prince Charles, inherited the Queen’s wealth. This includes estates and artworks. He also inherited jewels, stamps and cars, and racehorses.
Prince Charles’s eldest son, Prince Willian, took over the Duchy of Cornwall. William now owns the Duchy of Cornwall and everything in it. This includes the Oval cricket ground in London and the Highgrove House.
The Assets/ Crown Estate
The largest source of wealth of the royal family is the Crown Estate. This is a collection of lands and holdings belonging to the firm. The estate includes Windsor Castle. The Crown Estate is a corporation that manages the monarch’s holdings through an independent council.
The firm’s assets are estimated at $20.5 billion. By the end of the 2020 fiscal year, the Crown Estate generated $475 million in profits and $410 million in 2022.
All the revenue from the Crown Estate goes to the British government. In exchange, the British royal family receives a Sovereign Grant. The grant comes from taxpayers’ money and equals 25% of the Crown Estate’s annual profits. The Sovereign Grant for 2022-2023 is estimated at $110 million.
The firm assets include the $4.9 billion Buckingham Palace and Kensington Palace worth $630 million. Other properties are the Duchy of Cornwall and the Duchy of Lancaster, worth $1.3 billion and $748 million, respectively.
The Duchy of Cornwall is a massive stretch of property in Southwest England. Prince Willian inherited the massive acres of land when his father became King. In 2022, the Duchy of Cornwall returned $32 million in operating profits.
The Duchy of Lancaster is similarly massive but not worth as much. The massive property of King Charles III returned $31 million in profits in 2022. The Duchy of Lancaster’s assets are estimated at $814 million, adding to the King’s massive wealth.
About the Duchies
The owners of the duchies can only benefit from the profits and not the assets. The assets belong to the firm. In explanation, if King Charles or Prince William ever went broke, they could not sell the assets in their respective duchies.
The Sovereign Grant
The Sovereign Grant caters to official royal expenses only. These expenses include security and royal engagements. In the 2020 Sovereign Grant, King Charles III paid $7.3 million to his personal staff and $6.75 million to taxes. He gave $4.4 million to charity and $7.8 million to his son, Prince William. Prince Harry, Duke of Sussex, does not benefit from the grant. This is because he ceased being a working royal in 2020. The Duke of Sussex continues to grow wealthy thanks to a series of lucrative deals and income from film roles.
Crown Jewels
Another major source of income for the British Royal family is investments in jewelry. The royal family owns a jewelry collection with rare and costly jewelry, crowns, and scepters.
One of the most popular jewelry pieces in the royal family is the 105.6-carat Koh-i-Noor diamond. The Koh-i-Noor was believed to have been stolen or gifted to Queen Victoria in the 19th century. The actual value of the Koh-i-Noor diamond is difficult to determine, but its rarity and existence in the royal family make it quite valuable.
The Royals’ Personal Net Worth
We already talked about Queen Elizabeth II’s net worth. Here’s a sneak peek of the royal family’s individual net worth.
King Charles III
King Charles III has an estimated net worth of $600 million. He inherited the British Monarchy from his mother, Queen Elizabeth II, after she died in 2022. He also inherited the $28 billion Crown Estate and other properties, including the Sandringham House.
Like his mother, the Queen, King Charles III is an avid collector of exquisite watches. He wears the most expensive watch brands, such as Parmigiani Fleurier Toric Chronograph.
Prince William
Prince William is the next in line to the Royal Monarchy after his father, King Charles III. He is the eldest son of Charles and the late Princess Diana. The future king has a net worth of $100 million, part of it inherited from Princess Diana’s estate.
When the Queen died, Prince William inherited the massive estate initially belonging to Prince Charles. The Prince of Wales is married to Cate Middleton. The two have three children; Prince George, Princess Charlotte, and Prince Louis. Prince George is the couple’s eldest child, Princess Charlotte is second, and Louise is last.
Take a Look at Prince William Lifestyle 2023 | Net Worth, Salary, Car Collection, Mansion:
Prince Harry & Meghan Markle
Prince Harry and his wife, Meghan Markle, resigned from official royal duties in 2020. The royal couple is worth $60 million. Before he left the royal family, Prince Harry’s wealth mainly was from his inheritance from his late mother, Princess Diana.
He and his wife, Markle, have signed lucrative deals with Netflix and other businesses. These have grown their wealth significantly. Prince Harry does not benefit from the Crown Estate’s Sovereign Grant since he does not work for the firm.
Prince Philip
Prince Philip, Duke of Edinburgh, the husband of Queen Elizabeth II, died in 2021. At the time of his death, the former Prince Philip of Greece and Denmark was worth a modest $30 million.
Kate Middleton
Kate Middleton is worth around $10 million, but her entrepreneurial family is worth an estimated $50 million. Kate Middleton’s wealth came mainly from the family business, Party Pieces. Party Pieces was founded by Kate’s parents, Carole Middleton and Michael Middleton, in 1987. It was later sold to entrepreneur James Sinclair after facing financial hurdles.
Queen Consort, Camilla Parker Bowles
Queen Consort Camilla is the wife of King Charles III and the Queen of the United Kingdom. She married Charles in April 2015 without a prenuptial agreement. The Queen is known to be humble and kind. She is worth an estimated $5 million.
Princess Eugenie
Princess Eugenie is the youngest daughter of Prince Andrew and Sarah. She is a niece to King Charles III and Queen Elizabeth II’s granddaughter. Prince Eugine is worth an estimated $1 million. She has been married to Jack Brooksbank since October 2018. The two have two kids, Philip Hawke Brooksbank and Ernest George Ronnie Brooksbank.
Princess Beatrice
Princess Beatrice is another of Prince Andrew’s daughters. She is a full-time businessperson with a net worth of $1 million. Princess Beatrice married Edoardo Mapelli Mozzi in 2020.
FAQs
Did the Queen Leave Harry Money?
The late Queen Elizabeth II left $100 million to the royal family. Reports show that Prince Harry was not a beneficiary of this money since he is not a prince anymore.
Who Owns Buckingham Palace?
Royal palaces such as Buckingham Palace are not private properties of the reigning monarch. They belong to the Crown Estate. Buckingham Palace has been the primary residence of the Queen since 1936. King Charles III and Queen Consort now occupy the palace.
Does Prince William Pay Taxes?
The Duchy is exempted from paying taxes. But Prince William pays income tax voluntarily.
Who is the Poorest Royal Family in the World?
Felipe VI, king of Spain, is reportedly the poorest monarch in the world.
Final Thoughts
The royal family’s net worth is a fascinating topic showcasing their impressive wealth. It also highlights their commitment to serving their country and people worldwide. As we continue to follow the royal family’s lives, we cannot help but be in awe of their remarkable achievements and enduring legacy.
The royal family’s net worth is a testament to their unwavering dedication to improving the world. We can only hope they will continue inspiring us for generations to come.
