Public and private funds are combined to pay the Queen and her descendants for their various official duties.
In January 2020, Prince Harry and Meghan Markle They declared their desire to leave their royal duties and independence. Soon, they stopped earning income, much earlier than they expected.
“My family has cut me off financially,” said the Duke of Sussex at the time, worried for his family’s safety, which he now had to pay for.
Where does the money come from to pay Elizabeth II and her grandchildren? From a mixture of public and private funds, as well as inherited wealth, a real portfolio of real estate and other property.
Most family income is covered by three sources: the Sovereign Fund (public money), the Duchy of Cornwall and Lancaster (private money).
The sovereign fund is a component managed by the British government. Founded in 2012 and Covers the Queen’s official obligations and maintenance costs for inhabited palaces. Part of this ark is filled with millions of pounds that some UK property and farms produce annually.
These lands are in the hands of the national treasury, and are generally called Heritage crown. Technically, it is the property of the current monarch, but in reality it is not his property, and he cannot sell it or dispose of the profits, but receives what the government appoints for him.
How much money comes from the sovereign fund? Just over £32 million (more than $44 million) annually For the maintenance of Buckingham Palace, the royal family’s daily allowances, the payment of salaries for staff and essential services.
After that the Queen’s salary herself. This comes from Duchy of Lancaster, collection of land, property and assets. In 2018, for example, about $26 million came in from there.
Isabel II determines from there payments to her children Andrés, Eduardo and Anna, in exchange for the real commitments they made to themselves inside and outside the country. Prince Andrew has not been in office since 2019, and there is no official information on whether he is still in the paying role at the Palace.
On the other hand, the Duchy of Cornwall is dedicated to supporting the public, private and charitable activities of the Prince of Wales and his family, according to its website. It combines land, investment and property in the 23 English counties, a conglomerate founded in the 12th century. According to CNN Dinero, this accounts for 90% of Carlos and Camila’s income. From this money Carlos pays his employees, as well as Prince William and his wife Catherine Middleton, and until 2020 he has been doing this with Enrique and Megan Markle.
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Between 2019 and 2020, Carlos and his wife received about $30 million from this source and another $2 million from the sovereign fund. The couple has many engagements around the world each year, between 500 and 600.
Is the Queen losing money?
And although the Queen is the richest in the family, she does not have billions of pounds. Newspaper Sunday times Values Isabel II’s legacy: $486 million in the list of the richest 2020. In 2019, Forbes He has calculated at least 500 million. The drop is significant due to the impact of the coronavirus pandemic on tourism and sales. According to the magazine, it looks like this trend will continue.
However, she has her own investments and properties, such as the Balmoral and Sandringham residences that her father left for her. s Although you can wear crown jewelry or lend it to other royals, you can’t sell it, nor any of the royal residences or artefacts. Everything must pass to the next ruler.
But this is not enough, which is why his heir, Prince Charles, has a plan to reduce the cost of supporting the royal family, narrowing the list of those who will receive titles and privileges from now on.
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How much do the British contribute to the royal family? American Business Magazine fast company Doesn’t say much. German statistical portal statista Agrees: Between 65 and 69 pence a year, which is less than a dollar.
However, that cost has grown steadily to double the value in 2012, when it was at 32p.
How much money does the royal family make? Each year, they contribute to the UK economy $2-3 billion from the impact of their appearances and activities, which they generate from real estate and from tourism.
What does Enrique and Megan live on?
Basically the Duke of Sussex and his wife have Inheritance of Princess Diana, Princess of Wales, died in 1997. According to the newspaper independentAfter taxes, Enrique receives about $13 million a year. And so they got their home in California.
But it is also Contract with Netflix (Estimated between $100 and $240 million.) His collaboration with Spotify. The documentary was co-produced with Oprah Winfrey. In short, even if they stay away from the family, they will be fine. (And the)
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