Queen boasts huge fortune from inheritance – but has to hand cash to government

The Queen is currently celebrating 70 years on the throne and it’ll come as no surprise to the nation that during her reign the monarch has acquired a substantial amount of wealth.

According to Forbes, The Royal Firm, which is known as “Monarchy PLC”, is a jaw-dropping £22billion empire.

But not all of this money belongs to the Queen or other British royals, so how much money does the Queen really have and where does it come from?

Her Majesty actually has her own streams of income that add to her massive net worth.

Here’s everything you need to know about how much money the Queen has and where she gets it from.

What is the Queen’s net worth?

According to The Times Rich List, the Queen’s net worth is currently estimated at a massive £370million.

Her Majesty’s 2022 net worth has increased by £5million since last year, and is £20million up from her net worth in 2020.

Where does the Queen get her money from?

It’s no secret that the monarch has some serious money, but exactly where she gets her finances from is not as well known.

There are three sources that Queen Elizabeth II gets her money from – the annual Sovereign Grant payment, the Privy Purse and her personal wealth and inheritance.

The Sovereign Grant Payment

The annual Sovereign Grant payment is the money given to the Queen every year by the government.

The Sovereign Grant money is to enable the Queen to carry out her duties as Head of State.

It covers the cost of her central staff and the running cost of her official household, including official receptions and garden parties. It also covers the maintenance of the Royal Palaces in England and the cost of travel to royal engagements.

To get the Sovereign Grant, the Queen surrenders the revenue from The Crown Estate to the government and is usually given 15% of the profits back.

However, in 2017 it was agreed that the Queen would receive 25% of the profits for 10 years to help pay for the refurbishment of Buckingham Palace.

The Sovereign Grant for 2021-2022 was £86.3 million.

The Privy Purse

The Queen’s Privy Purse is the private income she receives that is passed down from monarch to monarch.

Most of the Privy Purse money comes from the Duchy of Lancaster, a private estate that covers a massive 18,000 hectares of land.

Last year, the Duchy of Lancaster estate made a profit of over £22million.

The net revenues are paid to the Keeper of the Privy Purse and the Queen voluntarily pays taxes on this income.

The Queen’s personal wealth

As well as the Sovereign Grant and Privy Purse money, the Queen also has her own personal wealth.

Her own fortune is accumulated from inheritance and money from her privately owned estates.

The Queen owns both the Balmoral and Sandringham Estates, which were passed down to her from her father.

Following Prince Phillip's death last year, the Queen also inherited his £10million estate.

In 2002, Queen Elizabeth inherited her mother's estate, which was valued between £50 and £70million.

Source: Read Full Article