How rich Queen Elizabeth was

The queen lived a royal life, paid for by British taxpayers, and also enjoyed the income of a vast private fortune whose details are not fully known.

The costs related to official activities of representation of the Queen or members of her family are covered by an annual sovereign grant from the Ministry of Finance, which for 2021-2022 totaled 86m pounds (99m euros), includes a sum given over ten years for the renovation of the Bouckingham Palace (34 million pounds).

Without counting the extra sum, this grant corresponds to 15% of the British Crown property (“The Crone ethate”), which includes, among other things, land surfaces, other properties, blood farm licenses, and whose income is attributed to the Treasury under a law of 1760.

The royal sum is used mainly to pay more than 500 Windsor's employees.

Private Revenues

The queen's private income is characterised as a private “cate”. They come from the collections of approximately $650 million from land-like assets, financial letters of the Lancester Duke, which have been the property of the royal house since the Middle Ages.

It includes approximately 315 luxury properties, residential and commercial properties, as well as tens of thousands of hectares of agricultural land.

The income from this huge wealth reached the last financial year at about $24 million, which the Queen partially distributes to her relatives. These private incomes are taxed as long as they are not used for official duties.

The Queen uses this money to maintain her property in Balmoral and Sandringham, two very expensive private residences”, says David McClure, author of a book on crown finances.

“He also uses this money to subsidise other members of the royal family who do not receive public money”, he continued when asked by the AFP.

Even though some of the money is being reintervened to her children, Andre, who has been favoured because of his relationship with the stock agent Jeffrey Epstein, who is accused of sexual crimes and child harassment, will no longer receive any of the money after being expelled from the monarchy.

Private Property

The Balmoral Tower, where the Queen died, is valued at about $100 million and its home in the village of Sandringham 50 million pounds.

Several articles in the Royal Collection are also owned by the queen, such as a collection of stamps initiated by King George V.

Queen Elizabeth also had a known passion for her horses, and her personal stable has earned her more than $7m over the years.

The famous Crown jewelry, valued for about 3 billion pounds, symbolically belongs to the Queen, but automatically passes to the next monarch, Charles.

“tax lines”

The Queen's assets have been damaged by the Parody Papers scandal, an investigation into the practice of large-scale tax evasion by the powerful and famous.

According to these findings made in 2017 by the International Consortium of Investigative Journalists (ICIJ), Elizabeth II had, through the Duke of Lancaster, about ten million pounds in crates in the Kayman Islands and Bermuda Islands, territories of the United Kingdom that are marked as fiscal paradises.

“not so rich”

With 370 million pounds, Elizabeth II was not at the top of the Times's After List, which is dominated by the Sri Brothers and Gopi Induya.

It is also significantly less rich than the King of Thailand, whose wealth is estimated at $30 billion, the Sultan of Brunei $20 billion, or Saudi Arabia's King Salman $5 billion.

What will Charles inherit?

When it comes to distributing the assets of Queen Elizabeth, it is likely that private homes that have been broadcast through generations of British monarchs will go to Charles, who is next in the throne row. Prince Charles will also be excluded from the 40% heritage tax imposed on average British citizens who receive an inheritance, thanks to a special agreement the monarchs have with the British government, which stipulates no direct heirs are required to pay the mentioned tax. /abcnews. al