And while many are excited to celebrate the country’s longest royal service, others question when Britain will face a cost-of-living crisis.
While Her Majesty’s wealth amounts to far more than that of the average Briton, she lags far behind many of Britain’s richest people.
Here’s everything you need to know about how the royal family is financed and its net worth.
How does the Queen make her money?
The Queen does not work from nine to five, but rather Her Majesty makes her money from three common sources: the secret purse, the Sovereign’s Grant, personal income and an inheritance.
The Sovereign Grant, provided by the Treasury, is a single annual payment made to members of the Royal Family. It has been in existence since 2012 and is based on the profits of Crown Estate – a real estate company that is independently managed but owned by the Queen.
The Queen receives the Sovereign’s Grant to perform her official duties and maintain the “occupied” royal palaces. These include Windsor Castle and Buckingham Palace.
These palaces are not private property and will be passed on to those in line for the throne so that they can never be sold by Her Majesty.
The royal family’s website has announced that spending for 2020 to 2021 has reached £85.9m (£1.29 per capita in the UK).
It stated: “Official expenditures were more than the sovereign grant and additional income earned, with net expenditures totaling £87.5m, an increase of 26% over the previous year.
“This was driven by a significant increase in spending, £17.6 million (an 83% increase), on Buckingham Palace reserves.”
When royal expenses cannot be covered by the sovereign grant, the Queen can then transfer to the private purse.
This is the sum of the net profits generated by the Duchy of Lancaster, another private property spanning more than 18,000 hectares of land, property and other assets.
Her total profit for the year to March 2021 was more than £22 million, but according to the Palace, the Queen pays tax on this income.
She also reportedly pays tax on her personal wealth and inheritance, including her private wealth.
She also inherited the estate of her late husband Prince Philip, which is valued at around £10m, after his death in April 2021.
Sunday Times too It states: “The Queen, 95, owns Sandringham House and Balmoral Castle, and there is also an investment portfolio, mostly in British preferred stocks, which will rise strongly on the back of the stock market rally in recent months.”
The Queen is also an avid philatelist, who has certainly paid off with a collecting value of around £100 million.
What is the net worth of the queen?
Although Queen Elizabeth II is the ruler of the United Kingdom, she is not the richest person in the country.
In fact, she’s a far cry from that, although she doesn’t lack wealth, as the Sunday Times Rich List estimated her personal net worth would be 365 million pounds sterling Including sovereign grant income.
In comparison, Sri, Gopi Hinduja and family top the Sunday Times Rich List with a staggering £28.47 billion worth.
Sir James Dyson and his family are second with an estimated value of £23 billion.
Its place on the Sunday Times Rich List is unknown because it did not make it into the top 250 entries.
MORE: How many children does the Queen have and who are they?
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