Many are wondering what his fate will be after the death of Queen Elizabeth II on September 8. And it’s more complicated than you think.
Here’s everything you need to know.
Who will inherit Queen Elizabeth’s fortune?
According to reports, Prince Charles, who ascends to the throne after Queen Elizabeth II’s death, will inherit most of his personal fortune, estimated at around $500 million.
Charles is the eldest son shared by Queen Elizabeth II with Prince Philip.
These assets also include her investments, art collections, and jewelry. It also consists of properties she owns such as Sandringham House in Norfolk, England and Balmoral Castle in Aberdeenshire, Scotland.
The London Bridge collapsed. The Queen died peacefully in Balmoral this afternoon.
Rest is peace, Her Majesty Queen Elizabeth.
70 years, 15 Prime Ministers, 1 Queen 👑 #Queen Elizabeth
Queen Elizabeth also inherited a fortune of $70 million after her mother died in 2002. This includes a collection of stamps, fine ceramics, jewelry, horses, and Faberge’s precious eggs.
Her art collection includes works by artists such as Monet, Nash and Karl Faberge.
It is also important to note that most of the property of the late monarch actually belongs to the ‘royal company’. It is a $28 billion empire that former members of the British royal family, including King George VI and Prince Philip, called it a ‘family business’.
Meanwhile, the Queen’s personal net worth was estimated at nearly $657 million in 2022.
The Sun also reported that the 96-year-old Queen’s fortune reached $3 billion in 2019.
How did Queen Elizabeth make money?
Queen Elizabeth II had a variety of sources of income, such as a portfolio of land, real estate, and many other assets acquired over the years.
Nevertheless, her main source of income comes from Sovereign Grants. This is a national annual lump sum account established in 2012. Pays for the monarch’s official duties and the cost of maintaining the occupied palaces.
Simply put, the Crown Estate, a collection owned by the Royal Family, generated annual revenues of $28 billion. In addition, the Queen received 25% of her income and the British Treasury received the remaining 75%.
Although His Majesty did not personally own the crown, a portion of the public state grant was paid annually to the Queen and her family.
According to Celebrity Net Worth, the Queen raised about $18 million from the property each year.