Net Worth of the British Royal Family
The British Royal family's finances are hard to pinpoint because they are not like those of the average citizen. Also, many of the details are private. Even so, the family's net worth has been estimated to be around $88 billion, according to Forbes. However, the British monarchy is far from being the richest royal family in the world.
Brand Finance reports that the richest royal family in the world is 16 times richer than the British royal family. The House of Saud, the ruling royal family of Saudi Arabia, has a net worth of $1.4 trillion that 15,000 family members share. However, the majority of the wealth is held by only about 2,000 of them.
So, what is the net worth of the British royal family?
Royal Weath Is Not Like Other People's Wealth
The British Royal family live off trusts such as the Crown Estate, which is owned by Queen Elizabeth. The monarchy owns billions of dollars in property including Buckingham Palace, The Savoy in London, an entire London street and a horse racetrack.
Also, some of the wealth comes from a portfolio of very expensive personal collections. The Royal Collection is one of the largest and most important art collections in the world.
The Crown Jewels collection is made up of more than 140 individual pieces with an estimated value of at least $4 billion. The treasures were accumulated by English kings and queens dating back to the 1660s. The pieces are not limited to ceremonial treasures used only in coronations. The collection also includes crowns, church and banquet plates, orders, insignia, robes, a unique collection of medals and royal fonts used to christen babies over hundreds of years.
Those items belong to the monarchy. Following is a list of immediate members of the royal family’s net worth as far as experts can determine.
Queen Elizabeth's Net Worth
Queen Elizabeth II is worth more than any other member of the family and for good reasons. The 92-year-old Queen's net worth is estimated to be at least $552 million, according to Wealth-X, a global wealth insights firm. She gets paid $90 million annually.
Queen Elizabeth gets a percentage of profits generated by the Crown Estate, according to its annual report. Her share is called the “Sovereign Grant.” She also collects a salary from the Duchy of Lancaster, which is a private and independent income.
Queen Elizabeth owns personal properties that are not part of the Crown Estate. They include the $140 million Balmoral Castle and the $65 million Sandringham House in Norfolk that she inherited from her father. The royal family traditionally spends every Christmas holiday there.
Prince Philip's Net Worth
Prince Philip and Queen Elizabeth are second cousins twice removed. They met when Elizabeth was 13 years old, and they married when she was 21. Before then, Philip renounced his Greek and Danish titles. That meant his Greek relatives were not invited to their wedding in 1947. Philip entered the marriage without finances.
The 97-year-old husband of Queen Elizabeth is now the Duke of Edinburgh with a net worth around $30 million. Before he retired in August 1997, he received an annual Parliamentary annuity of about $500,234 for expenses to help him carry out his public duties along with his wife and sometimes alone to give speeches.
Net Worths of the British Royal Family
Queen Elizabeth II
Crown Estate and Other Property
Annual Parliamentary annuity
Duchy of Cornwall, a Private Estate
Camilla, Duchess of Cornwall
Personal net worth but receives allowance from Duchy of Cornwall
Inheritance from Princess Diana
Inheritance from Princess Diana
From Wealthy Parents
From Acting on "Suits" and other actiing jobs
Prince Charles' Net Worth
According to Wealth-X, Prince Charles’ net worth is estimated to be about $400 million. The 70-year-old Prince of Wales gets most of his money through the Duchy of Cornwall. That is a private estate that funds the activities of the person who holds the title of Prince of Wales. The money takes care of his wife Camilla, his children and their wives. They get a yearly allowance to carry out their royal duties which include travel and expensive wardrobes.
In 2017, the Duchy reported spending $4.9 million. When the report comes out for 2018, it will show many more expenses because Meghan Markle was added to the list after marrying Prince Harry in May.
In total assets, the Duchy of Cornwall has $1.3 billion that came from different land and real estate sources, including countryside homes, cottages, barn conversions, seaside estates, and some rental properties.
Prince Charles donates most of his personal wealth to charities through his foundation.
Camilla, Duchess of Cornwall's Net Worth
Even though she did not come from humble beginnings, the net worth of Camilla, Duchess of Cornwall increased as soon as she married Charles, Prince of Wales in 2005 after his divorce from Princess Diana.
It has been reported that her personal net worth is $5 million. However, she gets a yearly allowance from the Duchy of Cornwall that her husband manages.
It has been reported that Camilla wants to take a lesser title when Prince Charles takes over the throne even though he wants her to take the top title of Queen Consort.
Prince William's Net Worth
Prince William and Prince Harry inherited most of their fortune from their late mother, Princess Diana. According to Business Insider, both brothers' net worths are between $25 and $40 million.
The brothers each reportedly received a lump sum of approximately $14 million when they turned 30 years old. They also each started receiving dividends of $450,000 each year when they turned 25. Prince William is now 36 years old, and Prince Harry is now 34.
Prince William used to receive an annual salary of $62,000 when he worked as an East Anglian Air Ambulance pilot. According to CNBC, he donated all his salary to charity. He no longer flies rescue helicopters. Instead, he uses his time focusing on his family and his royal duties.
Kate Middleton's Net Worth
Kate Middleton had a very large fortune before she married Prince William in April 2011 and became the Duchess of Cambridge. She doesn't have to spend any of her personal money estimated to be around $10 million because her official royal expenses are covered by the Duchy of Cornwall.
Kate's parents, Michael and Carole Middleton own a successful online mail-order party supply store, Party Pieces, that is worth between $30 to $50 million.
Prince Harry's Net Worth
Prince Harry’s net worth is between $25 and $40 million, similar to that of Prince William. They both inherited the same amount of money from Princess Diana’s estate with the same specifications when they turned 25 and 30 years old. Both brothers also inherited Princess Diana’s private jewelry collection.
Like Prince William, Prince Harry also had a job. He served in the Royal Air Force for 10 years with an annual salary of $53,000, according to Forbes. He retired from his job in 2015 to devote more time to philanthropic work like the Invictus Games.
Meghan Markle's Net Worth
Meghan Markle was a successful actress before she became the Duchess of Sussex. However, she gave up her acting career to marry Prince Harry on May 19, 2018. Her net worth is estimated to be an impressive $6.6 million.
Like Kate Middleton, the Duchess of Sussex doesn't have to spend her personal money because her clothes and other royal expenses are paid for by the Duchy of Cornwall that is managed by Prince Charles, her father-in-law.
Before Meghan's 2017 engagement to Prince Harry, she was paid $50,000 per episode on Suits. Her annual salary for the USA Network drama was around $450,000, according to Fortune. She worked really hard and also accumulated additional income from smaller acting jobs.
Money Generated From Weddings and Child Births
The weddings of Prince William and Prince Harry generated billions of dollars for England's economy. Also, more money comes into the monarchy every time William and Catherine add a new baby to their family. The same is expected to happen after Prince Harry and Meghan welcome their newborn in the Spring of 2019.
All three of the children have a large impact on the British economy, according to CNNMoney. Three-year-old Princess Charlotte brings in more than her brothers. She adds about $5 billion in economic activity because of her dresses, sweaters, coats, shoes, socks, and hair bows. Everything she wears is sold out in minutes just like her mother's fashions.
Five-year-old Prince George generates $3.6 billion. Prince Louis won't be a year old until next April, and he is expected to generate less than his older siblings. So far, his contribution amounts to $70-$125 million. It will be interesting to see how much Prince Harry and Meghan Markle's baby will generate for the economy.