Queen Elizabeth II, Life, Death, Net Worth, And Heir Apparent
- Queen Elizabeth died and left a vast fortune, which includes jewellery, paintings, real estate and other assets
- She does not receive a monthly salary but a fixed annual income amounting to millions of pounds
- According to reports, her mother left her about $70 million in cash and other investments, which she has now bequeathed to Prince Charles
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Queen Elizabeth II died on Thursday, September 8, 2022, at 96 at her home in Scotland.
She leaves behind a vast fortune worth over $500 million in personal fortune, which Prince Charles will inherit when he assumes the throne as the king.
Source: Getty Images
Breakdown of the Queen's wealth and what will happen to them
According to Fortunes, much of what the Queen owns belongs to the Royal Firm, including the British royal family's $28 billion empire that King George VI and Prince Philip called the family business.
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She gets her income through a taxpayer fund called Sovereign Grant, which is paid yearly to the British royal family.
It comes from an agreement made by King George III to give up his income from Parliament to receive a fixed annual payment for himself and future generations' families.
It was initially called the Civil List and was replaced by the Sovereign Grant in 2012.
How the Queen gets paid
According to reports, the Sovereign Grant was set to over $86 million in 2021 and 2022. They are for her official travel, property, maintenance and operating or maintenance costs of her household.
The Royal Firm, also known as the Monarchy Plc, includes a group of senior members and public figures of the House of Windsor, the royal family the Queen headed.
Together they operate what is known as the global business empire that injects hundreds of millions of pounds into the UK's economy yearly via a televised events and tourism.
According to Forbes, the monarchy holds $28 billion in real estate as of last year and cannot be sold.
They include:
- The Crown Estate: $19.5bn
- Buckingham Palace: $4.9bn
- The Duchy of Cornwall: $1.3bn
- The Duchy of Lancaster: $748m
- Kensington Palace: $630m
- The Crown Estate of Scotland: $592m
Although the family does not profit from the business, the reason is to grow the economy, which can provide wealth to the Windsors via media coverage and royal warrants increases revenue for the holders of the warrant.
Other assets are:
The Crown Estate: A collection of lands and holdings belonging to the British monarchy.
The Privy Purse: A portfolio of properties and assets held in trust dating back to the 14th century, which provides private income to the Majesty from the Duchy of Lancaster.
The Queen has got over $500 million in personal assets, mostly due to her investments, art collection, jewellery, and real estate holdings, including the Sandringham House and the Balmoral Castle, according to Business Insider.
Her Majesty also inherited nearly $70 million from the Queen Mother when she died in 2002, including investments in paintings, a stamp collection, fine china, jewels, horses, and even a valuable Faberge egg collection. Paintings in the collection include works by Monet, Nash, and Carl Fabergé.
Gautam Adani's wealth surge threaten Jeff Bezos as his stock jump 1,000 per cent
Legit.ng reported that first, he became Asia’s richest person; then, his fortune leapt above those of Warren Buffet and Bill Gates.
Now he is threatening to overthrow the second-richest man in the world, Jeff Bezos and is fast approaching a level of wealth only owned by Elon Musk.
Gautam Adani’s rise has been astronomical. While many billionaires worldwide saw their fortunes crumble, his net worth almost doubled and surged from $64.8 billion to $141.4 billion, making him the third-richest person on earth, Bloomberg’s Billionaires Index says.
Source: Legit.ng
