(London) Queen Elizabeth II had amassed a personal fortune estimated at 370 million pounds (558 million Canadian dollars) from the sunday timeduring his 70-year reign, some of which are known and run by the government, but others are private.
Posted yesterday at 22:08
The sovereign benefited from a royal lifestyle supported by the British taxpayer but she and her relatives also benefited from income from the gigantic private estate, the details of which are not fully known.
The expenses related to the official activities of representation of the Queen or members of her family come from an annual allocation (“sovereign grant”) from the Treasury, which reaches 86 million pounds for 2021-2022 (130 million CAN), from the which an extension granted for ten years for the renovation of Buckingham Palace (34 million pounds for 2021-2022).
Not counting the expansion, it corresponds to 15% of the profits from the British Crown estate (“The crown estate”), a colossal stock of land, real estate, wind farm licenses, among others, and whose income is returned to the Treasury from a law of 1760.
The sovereign allocation is used in particular to pay more than 500 Windsor employees.
The private wallet
The private purse refers to the private income of the queen. They come from the receipt of some 650 million pounds of assets (land, financial titles, etc.) – the equivalent of 980 million CAN) – from the Duchy of Lancaster, owned by royalty since the Middle Ages.
It includes some 315 high-end residential and commercial real estate properties, and thousands of acres of farmland.
The income of this colossal estate amounted to about 24 million pounds during the last fiscal year, which the queen distributes in part to her relatives. These private incomes are taxed as long as they are not used for official tasks.
“The Queen uses this money for the upkeep of her properties at Balmoral and Sandringham, two very expensive private residences” but which she owns, notes David McClure, author of a book on the finances of the Crown (The true value of the queen).
“She also uses this money to subsidize other members of the royal family who do not receive public money,” he continued, interviewed by AFP.
If a part of the silver is redistributed to their children, Andrew, in disgrace because of their liens with the financier accused of sexual crimes and pedophiles Jeffrey Epstein, and devrait plus recevoir autant depuis qu’il s’est mis en retrait de the monarchy.
Balmoral Castle is valued at around £100 million (CAN 151 million), and his country mansion, Sandringham, at £50 million (CAN 75 million).
Some items in the Royal Collection also belong to the Queen privately, such as a stamp collection started by King George V.
Queen Elizabeth also had a well-known passion for horses and her personal stable has earned her over £7 million over the years according to the equestrian site myracing.com.
The famous Crown Jewels, valued at around £3 billion, symbolically belong to the Queen and automatically pass to the next monarch.
The queen’s fortune has been marred by the Paradise Papers scandal, an investigation into large-scale tax evasion practices among powerful and famous figures.
These revelations from the International Consortium of Investigative Journalists (ICIJ) in 2017 claimed that Elizabeth II had, through the Duchy of Lancaster, around ten million pounds of assets in funds in the Cayman Islands and Bermuda, overseas territories of the Kingdom. Kingdom or treated as tax havens.
not so rich
With 370 million pounds, Elizabeth II came far in the ranking of the great fortunes of the United Kingdom, the “List of the rich” of the Times, ranking to which it refers, being dominated by the brothers Sri and Gopi Hinduja (28 billion of pounds).
She was also far less rich than the King of Thailand, whose fortune is estimated at $30 billion, the Sultan of Brunei ($20 billion), or King Salman of Saudi Arabia ($5 billion, according to celebritynetworth.com).
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