It should come as no surprise that the royal family is awash in cash. After all, they have more than a thousand years of power, imperialism, and various versions of a vast empire that have filled their coffers for centuries.
However, the extent of their wealth may astound you. In a world where monarchies are weakening and leaders aren’t paid like CEOs, the British family grew wealthier as power shifted to the Parliamentary government. Learn more about the royal family’s net worth, as well as how they make money.
The royal family is a business
One could argue that the royal family is more of a political PAC than a government entity. According to Forbes, Monarchy PLC, the infamous “Firm” that Meghan, Duchess of Sussex famously brought to life, functions similarly to a PR firm, a government entity, and the Vatican. With a total value of $28 billion spread across the Firm’s umbrella.
The Firm is responsible for more than just the royals’ incoming funds. They make sure that everything they do is profitable and that they stick to the traditions that have stood the test of time. According to the same Forbes article, the Firm contributed $1.5 billion to the British economy as a result of Harry and Meghan’s royal wedding.
Every time Harry, Prince William, Prince Charles, or even the queen herself goes on a tour, it contributes to the larger machine’s overall fundraising efforts. As a result, it’s difficult to distinguish the royal family from the Firm that controls them when discussing their finances.
What are the assests controlled by the royal family?
The impact of the Crown Estate on the bottom line is reported in Town and Country. The system blurs the line between private property owned by the family and government-owned land set aside for their modern role. This estate includes 263,000 acres of farmland, 12 miles of coastline, and more castles, mansions, and summer homes than most people could ever imagine. In US dollars, these holdings are worth around $17 billion.
This arrangement dates back hundreds of years, when George III exchanged a standard salary for land that could be sold for more money than he earned. Despite the fact that the crown now has less power than it has ever had, the British taxpayers are still footing the bill, as Queen Elizabeth receives over $100 million per year in addition to her perks and state-owned properties.
With over a thousand years of souvenirs ranging from Crown Jewels to priceless art and artefacts, it’s safe to say that the Crown is one of the most profitable government subsidies ever. While Queen Elizabeth is not well-known for her wealth, a look at their total net worth reveals that it has less to do with money and more to do with political capital.
What is the royal family’s net worth?
The royal family is a powerful family that serves as the unofficial head of state, key decision-makers within the Parliamentary framework, and a self-contained tourist industry. This is not a cheap item. While they are said to have lost money in 2020, Queen Elizabeth is said to be worth $530 million and Charles is said to be worth $400 million.
The Crown is a $55 billion industry, according to Town and Country, with much of that going to the family and being recycled in new and exciting ways. However, determining their exact worth is a difficult task. After all, even by today’s standards, a thousand years of power combined with an ever-changing role complete with land all over the world is difficult to track.
Whatever the exact figures are, they’re significant, and while the Crown may not be pleased, the family will not suffer.
What is the royal family’s source of income?
The British royal family may not come to mind when it comes to financial difficulties, but everyone has to make money in some way. Being a royal entails a different kind of empire, one that necessitates millions of dollars in both private and public funds to maintain. As a result, it should come as no surprise that, despite their enormous wealth, they must sometimes make difficult decisions.
The royal family may not wield the power that their forefathers did, but that does not mean they are at ease, according to the official royal website. Many regard the family as powerless ceremonial figureheads. While the Prime Minister’s power is growing, the royal family still has enough clout to put to rest claims that they don’t do anything.
Every year, the royal family attends over 2,000 official engagements, with the queen attending many of them despite her advanced age. Perhaps the queen will not be able to wage war or exercise power in the same way that King George did. With a single word, she, her family, and her closest allies can change the country’s entire political landscape.
The modern royal family could be described as state-sanctioned philanthropists, with many of their responsibilities centred on keeping the people of England happy and bringing attention to the poor and destitute. In total, the Royals are paid a hefty sum of around $150 million through the Duchies of Cornwall and Lancaster, the Sovereign Grant, and the Privy Purse, whether the role is an important cog in the parliamentary government or a ceremonial title in all but name.
The royal family owns more palaces, museums, and vacation homes than they can possibly use. Indeed, the tourism that these properties generate helps to pay for all of the upkeep as well as the family’s lavish lifestyles. When television host Lawrence Spivak spoke with the late Prince Philip, according to Oprah Daily, he inquired about the “very high cost that the royal family must sustain on an allowance of one million one hundred thousand dollars a year.” Isn’t that making things awkward?”
The late prince noted that even royals have to adjust to changing tides, and that they sometimes have to make luxurious concessions that even the average millionaire may not be able to comprehend. “The queen had to sell a small yacht she owned. And I’ll probably have to give up polo pretty soon,” he said half-jokingly, but the remarks outraged many British people.
After all, the properties cost millions of pounds to maintain each year, and while the family makes light of the luxuries they must forego, others around the world are starving. Overall, the royal income is made up of grants and stipends that help to offset the cost of owning so many properties by dividing the cost among the British people.
The role of Queen Elizabeth as Sovereign “acts as a focus for national identity, unity, and pride; gives a sense of stability and continuity; officially recognises success and excellence; and supports the ideal of voluntary service,” according to another page on the official royal website.
Regardless of their power, the royal family serves as a symbol of British pride. They are a family that patriots look up to as their own, while cynical, critical individuals appear to be relics of bygone eras. Regardless of one’s flaws, the royal family’s influence continues to demonstrate that official power is meaningless in the eyes of the public.
There will always be questions about what the royal family does as long as there is a royal family line. This is likely to change further, but the royal family’s role is ultimately to represent Britain on a global scale, raise awareness for humanitarian causes, and occasionally use their unique position to enact change that their forefathers could have done with a single word or sentence.
What are the current senior royals’ net worths and who are they?
People are once again obsessed with the royal family, thanks to The Crown’s fictionalised version of historical drama and its real-life counterpart. The royal family, on the other hand, is made up of a large number of queens, princes, princesses, duchesses, and other members. When it comes to the circle’s senior members, however, that’s where the real money is.
A definition of senior royal family members is difficult to come by, according to Harper’s Bazaar. However, historian Marlene Koenig points out that the term has historically been used to refer to the sovereign, their consorts, and their immediate children, grandchildren, and spouses. To put it another way, a senior royal is a member of the royal family who performs duties on behalf of the throne.
The queen may be portrayed as a ceremonial relic from the Crown’s empirical past, but she still wields considerable power. After all, while the crown no longer wields the godlike power it once did, it remains a source of pride and patriotism for Brits and Anglophiles around the world. Meghan Markle and Prince Harry were never going to be king and queen, but their decision to leave the family business sparked outrage for months.
The Counsellors of the State, among the senior members, play the most active roles, speaking for the crown and performing royal duties all over the world. As a result, when William goes to the United States on official business or when Prince Andrew attends a political dinner, he is representing the queen and English pride.
The death of Philip and the departure of Harry, according to ABC News, shook up the senior circle in ways it hadn’t seen since World War II began. Until his death at the age of 99, Philip was her voice, and Harry provided a younger, hipper perspective on the throne. However, after his and Meghan’s tumultuous departure, the circle shrank significantly.
Charles, Princess Anne, and Prince Edward, the queen’s children, are still active members of the royal family. Andrew is still there in an official capacity, but he left his position after a series of high-profile scandals. Furthermore, all of these members’ children, spouses, and grandchildren are included in the senior circle, which includes everyone from children to people in their 100s.
According to Marie Claire, Queen Elizabeth has been on the throne for nearly 70 years, and she’s been well compensated for it, with $520 million in the bank. With $400 million in the bank, the queen’s eldest son and heir apparent, Charles, is not far behind in redistributing her vast wealth. William and Catherine, Duchess of Cambridge are said to be worth eight figures, while Prince George will undoubtedly benefit from all of the preceding titles. Being a royal is a difficult task. Every action you take is scrutinised, accompanied by political fallout and numerous rumours. They do, however, earn a good living and receive millions in benefits each time they leave the house. The Crown is a multibillion-dollar industry that functions as a government, a business, and a public relations firm all at the same time. While King George’s reign may be over, the royal family’s business is booming in ways it has never been before.