How rich is the Queen of England?

Thanh Tung May 21, 2019 08:29

Queen Elizabeth and her family draw money each year from their massive real estate holdings, property auctions and horse racing betting.

In the world, the Queen of England is the only person who is not a billionaire but can call several castles home, wear a jeweled crown on her head, collect many rare paintings and precious horses. Crowned in 1953, she lives a super-rich life even though her assets cannot be compared to the richest people in the world, not even compared to the rich people in England. According toForbesQueen Elizabeth II, worth about $500 million, is outside the list of 2,000 billionaires this year.

The Queen of England has 500 million USD. Graphics:Forbes.

The 93-year-old royal directly owns some properties such as Balmoral Castle in Scotland and Sandringham in Norfolk, but many of the most valuable properties such as Buckingham Palace are owned by a council called the Crown Estate.

The Crown Estate holds a vast amount of British assets, held in trust, that are not owned by the government or the monarchy. Assuming the Queen owns it, combined with the Duchy of Lancaster – a real estate trust that operates on similar principles, she would be the richest person in Britain with a net worth of $25 billion.

Balmoral - the Queen's summer residence. This is one of the few castles she owns personally. Photo:UIG.

The Queen is a paid individual. She receives an annual income from the Crown Estate's $18 billion (£11.5 billion) budget, while the Duchy of Lancaster, which dates back to 1265, paid $27 million before tax in the 2018 financial year for her personal expenses.

25% of the Crown Estate's revenue goes directly to the Sovereign Grant: which covers salaries, travel, housekeeping, maintenance and IT (the Queen has Instagram).

Prince Charles, Queen Elizabeth's eldest son, is funded by the Duchy of Cornwall, a trust that owns 530 million square meters of real estate and more than $450 million in commercial assets in the UK. The money Cornwall brings in not only supports Charles but also his two sons and their wives and children: Prince William, Duchess of Cambridge Catherine and their three children; Prince Harry, Duchess of Sussex Meghan and their newborn son Archie. In 2018, William and Harry's families were allocated $6.1 million in spending, but the royal financial report does not clearly list what was spent.

Prince Charles (bottom row, holding his grandchild), his wife and royal children are supported by the Duchy of Cornwall estate trust. Photo:Chris Jackson.

Although the British Royal Family is of interest to the world, some people in the UK believe that this family is a burden on taxpayers. However, Richard Haigh, CEO of the UK-based valuation group Brand Finance, believes that this is not necessarily the case. "Last year, we estimated that the Royal wedding between Harry and Meghan boosted the UK economy by nearly $1.5 billion," Haigh said. Based on the most recent report on the Royal Family, conducted in 2017, Brand Finance concluded that the family's appeal brings in $700 million a year in tourism. By that calculation, thanks to the Royal Family, all subjects have more money.

Buckingham Palace - the most expensive house in the world. Photo:Royal UK.

4.7 billion USDis the valuation of Buckingham Palace by Czech real estate agency Luxent. The 775-room palace, home to the British Royal Family since 1837, is worth more than the fortune of 400-company tycoon Richard Branson.

$20 billion in real estate: Includes housing in England owned by the Crown Estate, in Scotland by a similar fund, and 530 million square metres of real estate in the hands of the Duchy of Cornwall. That 530 million square metres includes land onThe Isles of Scilly, residential and commercial properties in London and Llwynywermod – the Welsh home of Prince Charles and his wife Camilla. The Queen has no power to sell any of these.

More than another $1 billionis the value of land scattered across England and Wales conquered by Dukes over seven centuries; limestone, sandstone, and gypsum mines; and Kensington Palace – the childhood home of members of the Royal Family.

Princess Diana with her two children William and Harry. Photo:Tim Graham.

Assets given away

Nearly 430 million USDThe Crown Estate’s 2018 profits went to the Treasury rather than to Queen Elizabeth. Meanwhile, Prince Charles has also created about $145 million for charities that support economic, environmental and social causes in the UK and globally. These organizations spent more than $45 million in 2018.

31.5 million USDThe majority of the estate Princess Diana left after her death went to Princes William and Harry, who each received it on their 25th birthdays. The rest went to her 17 godchildren and her close butler, Paul Burrell. Mr. Burrell received $81,000.

Meghan Markle in Queen Elizabeth's 1955 Rolls-Royce Phantom IV to her wedding in 2018. Photo:INDIGO.

Lifestyle

200 billionis the number of British postage stamps featuring the Queen produced to date. With a design unchanged since 1967, they are considered the most reproduced artwork in history.

1 million USDauctioned for the Queen's 1955 Rolls-Royce Phantom IV last September. The year before, a 2001 Daimler Super V-8 custom-built for the Queen sold for more than $55,000. In 2016, a 1994 Audi Cabriolet owned by Princess Diana sold for nearly $60,000 at a classic car auction.

600,000 USDis the Queen's horse racing betting earnings in 2018, according to the British Horseracing Commission. The Queen's most prized horse of all time, Estimate, is an Irish thoroughbred, English-trained horse that won her a total of $487,000 before it was retired in 2014.

British Royal Crown, Scepter, Globe, Chalice, and Bracelet. Photo:gamma-keystone

23,578 gemsMounted on the Royal Treasures housed in the Tower of London, $7,500 was paid for a slice of Prince William and Kate Middleton's wedding cake in 2014. Similar slices of their grandparents' and parents' wedding cakes have previously fetched thousands of dollars at auction.

3,900 USDfor a doll that once belonged to Princess Elizabeth, dating from 1935 and resold in December 2018. In addition, a shared toy given to her by her nanny and her sister, Princess Margaret, also sold for more than $1,000.

1,300 ordersThe first corgi registration in the UK was in 1944, after Queen Elizabeth was given one as a gift for her 18th birthday. Applications jumped 56% and continued to rise the following year. The Queen’s influence on the UK corgi market was so great that, when her last dog died in 2018, one breeder immediately classified the short-legged breed as “endangered”.

800 brandsFrom luxury goods like Burberry to family-owned saddlery Abbey England, Royal Warrants signify that a product or service is trusted by the British monarch. Brand Finance estimates that Royal Warrants can contribute up to 5% to a company's revenue.

Queen Elizabeth as a young woman and her pet dog. Photo:Hulton Archive.

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