Queen Elizabeth II Net Worth: How the Royal Makes Money
With castles and jewels in their name, it should come of no surprise that the royal family’s collective net worth is allegedly in the billions. But, what is Her Majesty worth? Up ahead, we take a closer look at Queen Elizabeth II’s net worth, including how she makes money and who pays for travel expenses, staff salaries, and palace renovations.
Queen Elizabeth II net worth
Queen Elizabeth II might be the longest reigning monarch, but she’s certainly not the wealthiest person in England (over 300 British citizens have a higher net worth). According to CNN Money, Queen Elizabeth II’s net worth is estimated around $470 million. And, the royal family’s net worth as a whole — which includes all royal assets, incomes, etc. — is around $88 billion.
With her massive net worth, many want to know: How does Queen Elizabeth II make money? Up ahead, we take a closer look at the funds available to the monarch.
How does Queen Elizabeth II make money?
Contrary to what you might think, British citizens don’t cover the cost of the royal family completely. While some taxes go towards Queen Elizabeth II’s income, she also makes her money in other ways. Here are the various ways Queen Elizabeth (and family) make a living.
One of the queen’s most consistent form of income comes from the Sovereign Grant. The grant is an annual allowance given to the queen by the government (aka Parliament) and is derived from British citizens’ tax dollars. With that said, the queen can’t use the money for personal expenses. The money instead exists to cover the cost of security, travel, and upkeep of the historic royal palaces she calls home. It’s more like an expense account versus an annual salary. In addition to paying for security, palace upkeep, and travel, the queen uses some of the money to pay members of the royal family for their services.
Queen Elizabeth II’s Sovereign Grant was recently increased to pay for the extensive Buckingham Palace renovation. The project is expected to take nearly 10 years to complete and the budget is $475 million. The update will replace the structure’s plumbing, as well as thousands of electrical sockets, light fixtures, and more. On top of that, officials will install two elevators to ensure better access for visitors with mobility restrictions.
The Duchy of Lancaster
The Sovereign Grant covers a lot of operational aspects of the royal family. But, how does Queen Elizabeth make money for her personal endeavors? To ensure financial stability, the monarchy has its own business called The Duchy of Lancaster. Created in 1399, the private estate features a portfolio of properties, lands, and assets as a way for the monarch to earn a private income.
According to its website, The Duchy of Lancaster has a net worth of around $682 million. Every year, Queen Elizabeth II (or whoever is the reigning monarch) is paid the estate’s net income, which comes to about $25 million every year.
Personal assets and investments
The queen also has an impressive portfolio of personal assets, which amounts to a good portion of her net worth. For starters, she inherited Balmoral Castle in Scotland and Sandringham Estate in England (and will likely pass these private properties onto her son, Prince Charles when she passes). She also has a valuable stamp collection in her name, impressive artwork, and a stock portfolio.
Her husband, Prince Philip also brings in around $488,000 every year for his work and service to the royal family. However, after retiring last year, it is unclear whether or not he still gets the buyout.
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