The British Royal family leads quite a public life – after all, Prince Harry and Meghan Markle’s wedding was heavily publicised and watched by millions of people worldwide. However, for all our supposed knowledge on the royals and obsession with them, do we really know how they fund their famous lifestyles? We tell you how.
The Royal Grant
The Crown owns a set of property called the Crown Estate and surrenders it to the government. The government gives her 15 per cent of the profits from the Estate’s earnings.
The Privy Purse
The Duchy of Lancaster which, according to the Business Insider, is “a portfolio of land and other assets that’s been in the royal family for hundreds of years”, generates a steady income for the Queen. This is what the Royal Family website says about the Duchy of Lancaster: “Its main purpose is to provide an independent source of income, and is used mainly to pay for official expenditure not met by the Sovereign Grant (primarily to meet expenses incurred by other members of the Royal Family).”
According to The Richest, the Royal Family owns all the gold in the UK. “That includes any gold that might be found on someone’s property. Roughly 2,500 people in 2013 received notices that the Royals have the right to take a pickaxe to your property to look for minerals if they so choose to,” writes Kimberly Love for the website.
Various seabed properties were leased out by the Crown Estate for offshore wind farms. Hence, the family also makes money from the renewable energy sector and in 2016, they earned $31 million from it, according to the BBC.
The Queen owns the Ascot Racecourse and that generates millions. She rears some of the finest horses in the country and they bring in the moolah as well.
According to the law in the UK, the Thames belongs to the Queen and hence, everything that swims in it is hers. We’re not sure if they make any money out of this.
Then, of course, the Royal Family has inherited castles and priceless artwork. They own properties and receive money from the Sovereign Grant.