Royal Family finances have long played a part in debates both for and against their existence in the UK. They bring in millions of pounds per year through tourism alone, and their influence has helped score lucrative deals with other countries. But they curate an exorbitant personal wealth, comprised of both private and public funds.
How much does the Queen earn?
The Queen has several private sources of income, the Privy Purse and private investment.
The Privy Purse covers hers and some Royal Family members’ expenditures using money from landholdings known as the Duchy of Lancaster.
The purse is self-financing, running without taxpayer funds and controlled by the Chancellor of the Duchy of Lancaster and the Clerk of the Council.
Although she doesn’t receive taxpayer funds on the Duchy of Lancaster, she still pays it.
The latest estimates suggest the Privy Purse generates roughly £20 million per year.
Another source of income comes from her expansive private collection and assets.
She owns both car and jewellery collections and has made a name as a successful horse racer, earning roughly £7 million from prizes over the years.
The above methods make up her private income, but the bulk of her money comes from elsewhere.
The Sovereign Grant gives the Queen and Royal Family members a salary from performing their royal duties.
Their independent real-estate business, the Crown Estate, generates money primarily for the Government, but the Queen takes between 15 and 25 percent.
The Sovereign Grant ultimately proposed up the treasury and has added £3 billion to the institution over the last ten years.
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In total, the Sunday Times Rich List estimates the Queen’s net worth resides at roughly £370 million.
But she cannot utilise every penny personally as it includes assets owned by the monarch.
These will transfer down the line of succession to Prince Charles, Prince William, Prince George and his heirs.
As well as generating money for themselves, the royals contribute annually to the UK.
In 2017, they contributed £1.8 billion to the UK economy, £550 million of which came from tourism.
The royals contribute this income through a diverse selection of ways.
These include contributions to the media industry via inspiration for shows such as The Crown, plays and films based on their lives.
The royal weddings have also attracted income over the years, with the Duke and Duchess of Sussex’s ceremony attracting millions of viewers worldwide.