By Monisha G Kumar Last Updated:
Queen Elizabeth II had begun her reign as the head of an empire. She surpassed the record of Queen Victoria in 2015 by becoming the longest-serving monarch. When the queen completed 60 years on the throne in 2012, London had hosted the Olympic Games. Thousands of people gathered on the streets to celebrate the Queen’s four-day diamond jubilee events. Queen Elizabeth II led the UK during the time of political upheaval in 1952.
On September 8, 2022, the Queen passed away at Balmoral Castle at the age of 96, after 70 years on the throne. Members of the royal family had rushed to be with her when her health deteriorated. King Charles, the eldest son of the Queen issued a statement on the death of the Queen, his mother which could be read as:
“The death of my beloved Mother, Her Majesty, The Queen, is a moment of the greatest sadness for me and all members of my family.”
One of the biggest challenges during the queen’s reign was the media’s undivided attention to her children’s personal lives and her assets. Let’s take a look at Queen Elizabeth II’s net worth, how was it made and who will inherit it.
Born as Princess Elizabeth of York, she was the firstborn of the Duke and Duchess of York. In 1947, she got married to Prince Philip Mountbatten. They welcomed four children, Prince Charles, Princess Anne, Prince Andrew and Prince Edward. After Elizabeth’s father, King George VI passed away in 1952, she became the Queen of England at the mere age of 25. She served as the Queen of England for more than 70 years and was one of the most recognised royals in the world.
It is difficult to quote an exact figure of the Queen’s assets as some of her fortunes are privately held while some are part of the Crown Estate. As per multiple reports, the Queen’s net worth is expected to be 500 million dollars, which is based on the analysis of her private holding, money inherited from her father, King George VI, investments, art collection, jewellery, real estate and much more. Various other sources of income contribute to her wealth.
The sovereign grant is a fixed annual amount paid to the royal family from public funds. These funds are usually used to cover expenses like security, travel and official engagements. Not just these, the sovereign grant also helps in the funding of maintenance of royal residences such as the Buckingham Palace. In 2022, the amount for maintenance was set at 86 million pounds.
The royal family’s real estates are approximately worth 17 billion dollars, which also includes private homes and properties, apart from the palaces and official residence. These private homes and properties are leased out to generate income. Among them, the most valuable property is Buckingham Palace, which is approximately 1.55 billion dollars.
The Queen received an annual profit of 25 per cent from the Crown Estate income. The Crown Estate is one of the largest property owners in the UK, which holds, parks, offices, apartments, forests and farmland. 25 per cent of it goes to the monarchy, whereas the remaining 75 per cent goes to the British treasury. As per Forbes 2020 data, the Crown Estate made more than 475 million dollars in profit, out of which the Royal family gained 120 million dollars approximately.
Referred to as The Duchy of Lancaster, the privy purse has a number of properties and assets dating back to the 14th century. The Duchy’s net assets worth 652.8 million dollars are in the form of properties and financial investments that provide private income to the monarch. A net surplus of 24 million dollars is paid to the Queen and the money is used to cover the expenses not covered under the Sovereign Grant. Duchy of Lancaster passed down 45,700 acres of farms in England to the Queen, which was quoted to be the major source of her income.
Queen Elizabeth’s net worth also includes inheritances from her family members. The inheritances list 94 million dollars received from the Queen’s mother’s estate as well as around 30 million dollars from the estate of her late husband, Prince Philip.
The Royal family has some of the finest and most expensive art pieces with an estimated value of 5 billion dollars. The extensive collection includes works by well-known artists like Rembrandt, Da Vinci, and Michelangelo.
Queen Elizabeth’s eldest son, Prince Charles ascended to the British throne on September 8, 2022, after her death. Prince Charles will not directly inherit the 28 billion dollars assets which include The Crown Estate, Buckingham Palace, The Duchy of Cornwall, and The Duchy of Lancaster but will inherit all her personal assets.
With the end of Queen Elizabeth II’s reign, it seems like the end of an era. The British establishment had lost one of its prime figures, who would impart her knowledge for the well-being of England. Her time-tested wisdom, commitment and ability to see through the prominent issues made her one of the most loved monarchs of England.