Created in 1337 by King Edward III, the estate is worth around $1.2 billion, according to its accounts for the last financial year. (via CNN)
Royal wills are never made public. That means what happens to much of the Queen’s personal wealth following her death last week will remain a family secret. Forbes estimated last year that the late monarch’s personal fortune was worth $500 million, made up of her jewels, art collection, investments and two residences, Balmoral Castle in Scotland and Sandringham House in Norfolk. The Queen inherited both properties from her father, King George VI.
From that, the UK Treasury paid the Queen a Sovereign Grant of £86 million . That’s equivalent to £1.29 per person in the United Kingdom. Most of this money is spent on maintaining the Royal family’s properties and paying their staff. The Sovereign Grant is usually equivalent to 15% of the estate’s profits. But, in 2017, the payment was bumped up to 25% for the next decade to help pay for refurbishments to Buckingham Palace.
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