The Click Times: On 9th September, Britain mourned the death of Queen Elizabeth II and the rise of her son Charles III. The formal process of royal mourning and the coronation of a new monarch has received a lot of attention – but it’s also worth examining the state of the billion-dollar fortune that is also about to change hands.
Analyzing the royal family’s financial empire is not easy. Last year, Forbes put his worth at $28 billion, theoretically making the Windsor family one of the two richest families in Britain. Among the collections are instantly recognizable icons such as Buckingham Palace and the Crown Jewels. It also includes large tracts of land, from office properties and the main cricket ground in London to farmland on the outer fringes of the UK.
But as we explain below, not everything belongs to Windsor. Here are the three largest royal possessions:
Crown Estate, a £16.5 billion ($19.2 billion) property portfolio, including retail properties in London’s West End, commercial properties across the country, and even the UK’s £8 billion seabed. The company posted an operating profit of £327.8m in the last financial year, up 8% from the previous year.
The Duchy of Cornwall is a £1bn estate owned by the monarch’s heirs – so passed from Charles to his eldest son William – stretching from the coast of southwest England to the Oval Cricket Ground in London. It reported an operating profit of £24.6 million last year, up 16% year-on-year.
The Duchy of Lancaster, an £818 million estate spread across the UK, is owned by the monarch. It reported an operating profit of £23.3m last year, up 4% year-on-year.
The Royal Family Worth
1. The Queen
The Queen makes about $360 million per year, which includes her personal residence allowance ($152,000) along with income from the Crown Estate and various royal gifts. In 2015, she gave away over £200,000 worth of gifts, including diamonds and jewelry, paintings, clothes, and a horse. She spent around $7.8 million on gifts in 2014 alone.
2. Prince Charles
Charles receives his money from the Duchy of Cornwall, which owns vast amounts of land across England and Wales. He gets paid approximately $12 million per year. His annual salary is around $400,000. He received an additional $13.6 million in gifts in 2014, including a private jet, artwork, and a yacht.
3. Prince Harry
Harry earns $500,000 per year from the Duchy. He earned $20,000 last year after giving a speech at a conference. He spends much of his time promoting the military, working with wounded veterans, and raising awareness for mental illnesses. He also runs a foundation dedicated to helping young people have fun without drugs.
4. Princess Diana
Diana died in 1997, but before her death, she was receiving nearly $10 million a year from the Duchies coffers. In 2009, she left behind a fortune estimated at $600 million. Most of it went to charities close to her heart, including her own AIDS Foundation.
5. Kate Middleton
Kate earns $450,000 a year from the Dower House, which is her home in Berkshire, England. In 2012, she had a net worth of $16.9 million.
6. Prince William
William and Catherine divide their salaries between them. William earns about $30,000 while Catherine makes about $28,000 per year. They got married in 2011 and began dividing their incomes equally two years later.
7. Camilla Parker Bowles
Camilla’s main job is being the Duchess of Cornwall. As the Duchess of Cornwall, she receives a modest pension. In addition, she receives a large amount of money each year from the Duchy of Westminster estate. She also receives a monthly stipend for travel expenses and gifts.
