Queen Elizabeth Net Worth : The British Royal Family published its annual accounts for the financial year 2020-21 last year, which provides an interesting insight into the royal life of the British royal families. According to celebrity net worth, Queen Elizabeth II’s net worth is $600 million. But the question is where do they get the money?
Queen Elizabeth receives an annual lump sum, called the Sovereign Grant, from the government. According to the latest account disclosure, this amount was 86.3 million pounds in the year 2020. Of this, £51 million has been earmarked as a core fund for travel, property maintenance and the Queen’s household operating expenses, while the remainder has been earmarked for the refurbishment of Buckingham Palace. The report also finds that the royal family in the UK does not put a heavy burden on the common man’s pocket. According to the accounts, the principal amounts to just 77 pence per person in the UK. If re-servicing costs are also added, the figure rises to £1.29.
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Public funds are used to meet the Queen’s official expenses with income from the Crown Estate. If you don’t know what is Crown Estate? These include London’s Regent Street, along with UK beaches. Crown estates manage £14.1 billion of real estate across the UK and remain with the Queen during her reign. However, it is not the Queen’s private property.
The Sovereign Grant, known as the Civil List until 2010, is in fact a formal agreement between the government and King George III. In 1730 he agreed to give up his income from the Crown Estate in exchange for an annual income for himself and his successors.
The estate surplus for the year 2018-19 was 343.5 million pounds. So the main sovereign grant is determined on the basis of 15 per cent of the net surplus from the revenue account of the Crown estate for the two preceding years. That means the Queen will continue to receive grants, not a reduction, even though the pandemic has affected travel and tourism, which has reduced income from the Crown Estate.
In addition, the Queen also earns money from her private property in the Duchy of Lancaster. The property spans over 18,000 hectares of land and was valued at around £23 million in 2020. The Duchy of Cornwall is also very extensive, funding the private and public activities of the Prince of Wales. It includes land in 23 English counties and is a solid investment portfolio. It is the main source of income for Prince Charles, Camilla Parker Bowles, Prince William and Kate Middleton.
According to the Sunday Times, the Queen’s net worth also took a huge £20 million hit in 2020, bringing her current net worth to around £350 million. According to the 2020-21 Sovereign Grant Report, the Covid-19 pandemic will have an impact on Sovereign Grant funding for several years.” It also states, “The grant cannot be reduced and future growth is not guaranteed and the Covid-19 pandemic will undoubtedly In the short term it will affect the results of the Crown Estate.”
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The largest source of income comes from The Royal Collection Trust, which receives no public funding and relies on visitor admissions and related activities for its income. “The closure of most Royal Palaces as a result of Covid-19 has temporarily eliminated its main source of income,” the report said. However, income is likely to increase gradually.
Some argue that the actual cost of royal maintenance is higher, as the grant does not cover security, heard by the Metropolitan Police. Besides putting Britain on the global map and boosting tourism, the Queen has been a voluntary income tax and capital gains tax payer on her personal income since 1992. However, many believe that the royal family is still far from billionaires, despite its properties at Balmoral and Sandringham, as well as its extensive art collection.