How Queen Elizabeth II Became One Of The Richest Women In The World
Queen Elizabeth II has been sitting on her throne and a reigning monarch for the past 70 years and, in this time, has acquired a lot of monetary value (per Yorkshire Post). According to Forbes, the monarch has a net worth of $530 million. While many of the royal family’s money comes from land and investments, it is important to note that her subjects are also footing the bill. Citizens of the United Kingdom are aware that their taxes will be used toward paying for some of the Queen’s official duties.
The “Sovereign Grant” is published by the Royal Household and is essentially their financial statement, according to Royal. The report reveals to the public and to the world just how much money the Queen is given throughout the year. The system is meant to place the Royal Household under the same audit examination as other government outlets.
Where does the Queen's money come from?
Royal enthusiasts may be surprised to learn that the Sovereign Grant from 2018 to 2019 was £82.8 million. CNBC reported that the Queen’s public funds increased 13 percent. The main expenditure, according to the report, seemed to be maintaining Buckingham Palace.
The Queen also gets profits from a land trust called the Duchy of Lancaster. This particular land trust, according to Gov.uk, is a private estate of land, property, and other holdings owned by the sovereign as Duke of Lancaster. It is an ancient inheritance that dates back to 1265. Essentially this is the Queen’s personal income or the privy purse. The Wall Street Journal reported that the Queen’s net worth could now be at £548.6 million. The outlet also revealed that the Duchy of Lancaster raked in £20.7 million in 2019. The Queen’s private purse strings are meant to help pay the expenses of her extended royal family. But for some taxpayers, it feels like Her Royal Highness is laughing all the way to the bank.
The Queen works hard for her money
It is important to note that the Sovereign does have her own personal investments (via Express). She owns Balmoral and Sandringham Estates outright, which she inherited from her father, King George VI. None of these personal assets are available to the public. There is no doubt that the monarchy has sometimes been described as an expensive institution, with some even calling for a referendum to remove the monarchy, according to The Independent. Some of the public feels the royal finances have been shrouded in secrecy, but there is still a large minority who thinks that England needs her Queen no matter the cost. It is vital that the royal household always be committed to making sure that the taxpayers’ money is spent as efficiently as it can be, while also making sure that the finances are easily accessible for all to see. It is safe to assume that, while the Queen has lived a privileged life, she has also worked hard to keep the crown and the monarchy from failing.
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