Queen Elizabeth II died on Thursday at the age of 96 at Balmoral Castle, her home in Scotland. Her Majesty leaves behind over $500 million in personal assets from her 70 years on the throne, which Prince Charles will inherit when he is crowned king.
King Charles is married to Queen Consort Camilla, whom he married in 2005. So what did King Charles inherit from Queen Elizabeth? After the Queen's death, King Charles inherited the Sovereign Grant, a taxpayer fund each year to the British royal family.
Queen Elizabeth II left nothing of her 782 million dollar fortune to Prince Andrew. According to reports, the late Queen Elizabeth II's son, Prince Andrew, has been left feeling miffed at the news that he has not received a single penny of his mother's fortune.
The Queen's will is split in two: her personal belongings and the Crown's estate. The former is made up of a variety of items, including estates and valuable objects, which, according to the Sunday Times, have a value of over $420 million dollars.
Royal Inheritance
Representatives told Forbes in 2021 that Harry was not a beneficiary of any of the $100 million left to the royal family by his great-grandmother, the Queen Mother.
How much did Kate Middleton inherit from Queen Elizabeth II? Radar Online reported in September 2022 that was Kate was expected to inherit $110 million in jewelry from the Queen after her death. The collection includes 300 personal pieces of jewelry that belonged just to the Queen and not the Crown.
Charles has been king since the death of Queen Elizabeth II last September. While his wife, Camilla, was also crowned at the coronation, because she is not a member of the royal family by blood, she would not take over the throne if Charles were to die or step down.
Taking her many streams of income into account, the Queen earned a generous salary each year until her death According to the Evening Standard, this looked like an estimated $97.2 million in yearly income for Her Majesty in 2020.
Similarly, while the wives of Kings can be Queens, the husbands of Queens cannot be Kings. Chalk it up to the patriarchy (like so many royal traditions), but Kings always reign, whereas Queen can be a symbolic title, as it will be in the case of Queen Catherine.
Who inherits the Queen's wealth? King Charles is the sole beneficiary of the Queen's wealth, including her £650 million estate.
There are three sources of funding for The Queen, or officials of the Royal Household acting on Her Majesty's behalf, in both a public and private capacity. These are: the Sovereign Grant, the Privy Purse and The Queen's personal wealth and income.
Both of them are married or partners of the next in line to the throne. This means that neither Camilla nor Kate will ever be known as Queen, only as Queen Consort. When William becomes king, that will be the title that awaits her.
Prince William just inherited a $1.2 billion estate thanks to a medieval rule. Prince William will inherit the $1.2 billion Duchy of Cornwall estate following the death of Queen Elizabeth II.
Queen Elizabeth and The Firm
King Charles, inherited her $500 million per Forbes.4 Charles' inheritance has reportedly made his wealth total over $2 billion (£1.8 billion), according to The Guardian,2 and includes assets ranging from estates and artwork, to jewels, racehorses, stamps and cars.
There are strict rules surrounding the crown jewels, and only three people in the world are allowed to touch them: the current monarch (that's now King Charles III), the Archbishop of Canterbury and the crown jeweler. For more than 800 years, the crown jewels have lived in the Tower of London.
Occupied Royal Palaces, such as Buckingham Palace, are not the private property of The Queen. They are occupied by the Sovereign and held in trust by Crown Estates for future generations.
William Technically Has to Bow to Queen Camilla
“The personal impact is likely the protocol changes that roll into action almost immediately,” an insider said shortly after Charles took the throne. “The family will now have to bow or curtsy to King Charles and Queen [Consort] Camilla.”
According to Royal protocol, Kate, along with other female members of the family including Sophie, Duchess of Edinburgh, Meghan Markle and Princesses Beatrice and Eugenie, must curtsey to the King and Queen Camilla as they are the most senior members of the family and male royals are expected to bow their heads.
She said in a statement: "When, in the fullness of time, my son Charles becomes King, I know you will give him and his wife Camilla the same support that you have given me; and it is my sincere wish that, when the time comes, Camilla will be known as Queen Consort as she continues her own loyal service."
According to Bloomberg, William will now earn $24 million a year from the Duchy of Cornwall.
While the Queen of England was one of the richest women in the world, she actually didn't have billionaire status. Her fortune only amounted to only $600 million, despite being the caretaker of the Royal Family's vast global assets.
So far, according to a report by Semana magazine and several British media outlets, the estimated income of Charles was 28.5 million dollars a year; William and Kate Middleton would earn about 4 million dollars a year; Prince Harry and Meghan, the Duke and Duchess of Sussex, about 3 million; Princess Anne, 441,000 ...
Technically yes. That's because if a male sovereign is married when they accede the throne, his wife is traditionally anointed and crowned in a short ceremony. That takes place after Charles III is crowned and the homages are paid. On Saturday, Camilla became the 29th Queen Consort to be crowned at Westminster Abbey.
Charles's eldest son, Prince William, is now first in line to the throne. Like his father before him, he's been granted the title Prince of Wales, as well as Duke of Cornwall and Cambridge, and William's wife Catherine is now Princess of Wales.
Elizabeth succeeded to the throne on her half-sister's death in November 1558. She was very well-educated (fluent in five languages), and had inherited intelligence, determination and shrewdness from both parents. Her 45-year reign is generally considered one of the most glorious in English history.