Prince Philip Net Worth: How the Royal Makes Money
It’s no secret that the royal family is rolling in dough — just look at the castles and palaces they call home! But, since the Mountbatten-Windsors are notoriously quiet about their finances, many want to know: What is Prince Philip’s net worth? Up ahead, we take a closer look at the Duke of Edinburgh’s finances, including how much he is worth and where his multi-million dollar wealth comes from.
Prince Philip net worth
Prince Philip’s net worth might not come close to his wife’s (Queen Elizabeth II’s net worth is around $470 million), but the prince consort still has millions to his name. Celebrity Net Worth reports that Prince Philip’s net worth is around $30 million.
Is Prince Philip retired?
Last year, the palace announced Prince Philip’s official retirement. The 97-year-old royal stepped down from his royal duties and is — for the most part — now out of the public eye (with the exception of attending family occasions like royal weddings). According to some reports, he spends a lot of time in the countryside at Windsor Castle.
How does Prince Philip make money?
Like the rest of the royal family, Prince Philip’s net worth is in the multi-millions. But, especially now that he is retired from his royal duties, many want to know: How does Prince Philip make money? Up ahead, we take a closer look at Prince Philip’s assets, personal income, and more.
Prince Philip’s finances stem from the Sovereign Grant. As the queen’s husband, he earns a certain royal allowance every year, which comes out of her official expense account, set up by parliament (and paid for by British taxes).
Through the Sovereign Grant, Prince Philip earned around $500,000 per year for his duties and services to the public and royal family. In 2016, he reportedly joked about being the “world’s most expensive plaque-unveiler.” Since his retirement, it is unclear whether or not the Duke of Edinburgh still earns this portion of the grant.
The Duchy of Lancaster
As husband to Queen Elizabeth II, Prince Philip also has access to the funds earned by the Duchy of Lancaster. Set up in 1399, the private estate embodies a portfolio of properties, lands, and assets that allow for the monarch to earn a private income.
Prince Philip apparently loves art and has collected paintings throughout his lifetime. Little is known about how much his personal art collection is worth, but chances are, it is a significant part of Prince Philip’s net worth.
Assets, inheritance, and stocks
Since he is the queen’s significant other, Prince Philip also has access to Balmoral Castle in Scotland and Sandringham Estate in England. The two royal family private properties stay in the family and Queen Elizabeth II inherited them from her father, King George VI.
In addition, Prince Philip and Queen Elizabeth II allegedly have a portfolio of stocks, which helps up the ante on their collective net worth.
Queen Elizabeth II’s net worth
Since Prince Philip is Queen Elizabeth II’s husband, he doesn’t exactly have to worry about money. Although he is worth $30 million, Her Majesty has around $470 to her name. Collectively, the royal couple has a net worth of around $500 million.
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