Nowadays one of his main sources of income is via the Duchy of Cornwall, which made profits of $26 million in 2020 and $24 million in 2021. According to Bloomberg, William will now earn $24 million a year from the Duchy of Cornwall. Related: How Long Was Elizabeth Queen?
When he was heir to the throne, King Charles III's most important source of wealth was the Duchy of Cornwall — which now passes to his son, Prince William. And it is this duchy whose possession turned Prince William into a billionaire overnight.
Queen Elizabeth II's Net Worth
This encompasses $10 billion worth of real estate, Buckingham Palace, and the Royal Art collection. The Queen also receives an annual government stipend and because this wealth is tied to her position, she could never sell the royal assets.
Kate is a “working royal” but does not earn a salary. When not raising her three children, her day-to-day schedule is filled with official engagements where she represents the family and monarchy along with her husband. Although she has no income, per se, Middleton has few expenses.
During the course of 2020, The Duke and Duchess of Sussex have made the choice to step back as senior members of the Royal Family and no longer receive funding through the Sovereign Grant, thereby making them members of the Royal Family with financial independence.
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.
The Queen receives a yearly sum through what is known as the Sovereign Grant , which is equivalent to £1.29 per person in the UK. In Aussie dollars, that's around $2.23 per person, which last financial year amounted to a whopping $148 million.
Kate Middleton wore a pearl choker that once belonged to Her late Majesty; Meghan wore a pair of pearl and diamond drop earrings that were a gift from the Queen on the occasion of their first joint engagement together in 2018, the same year Meghan married into the family.
Due to the fact that he's quite literally royalty, Prince William is rich. Like, “I live in a casual castle and my late grandma owned a scepter” rich. Not only does William have more money than Prince Harry for reasons that would cause any family to feud, but he's about to get even richer too.
According to Mirror Online, it has been reported that the overall deal is worth up to $100m.
Sovereign Grant. The Sovereign Grant is paid annually to the monarch by the Treasury to fund the monarch's official duties, replacing the system of funding the Royal Household by a mixture of civil list payments and grants-in-aid.
Five percent of his earnings came from the Sovereign Grant, which is a lump sum of taxpayer dollars that is given to the monarch on an annual basis. The rest (95 percent) stemmed from the Duchy of Cornwall, which is a privately-run estate managed by Prince Harry's dad, King Charles.
The youngest of both brothers already had an inheritance from the Queen mother (Queen Elizabeth II's mother) of around $10 million.
It's unclear what Harry will inherit from the Queen, however, after the death of his mother, Princess Diana, Harry and William inherited part of their mother's estate on their 25th birthdays, which was around $10 million each, according to Forbes.
"Without William, Kate would curtsy to Camilla; with him, she would not," the source continued. "That's unless Prince Charles is present, in which case she would." The order of curtsying, however, can change. This could happen when people marry into the family.
The Duchess of Cambridge is a lucky lady for many reasons. One being that she is now the owner of Princess Diana's most famous jewel. Originally created by British jeweller Garrard, Prince Charles chose this grand sapphire ring for his proposal to Diana in February 1981.
The Queen will be laid to rest today wearing only two precious pieces of jewellery. Her Majesty, who will be buried next to her husband Prince Philip later today, will wear only her wedding band and a pair of pearl earrings, despite owning a collection worth millions of pounds.
So what will Meghan Markle inherit from Queen Elizabeth? Radar Online reported in September 2022 that both Meghan and Lilibet will be left out of the Queen's inheritance. “There's a very good chance the Queen won't leave either of them any jewels of value,” a source said.
The Queen's personal income, derived from her personal investment portfolio and private estates, is used to meet her private expenses. The Queen owns the Balmoral and Sandringham Estates, which were both inherited from her father.
The royal salary:
Queen Elizabeth II received income from a taxpayer fund known as the Sovereign Grant that allocated £86 million for 2021 and 2022 for official travel, property maintenance, and operating or maintenance costs of the Queen's household.
Supporters of the monarchy argue it costs New Zealand taxpayers only a small outlay for royal engagements and tours and the expenses of the governor-general's establishment. Monarchy New Zealand states "[t]his figure is about one dollar per person per year", about $4.3 million per annum.
READ MORE:What will happen when The Queen dies? Banknotes and coins with The Queen's face on them will continue to circulate in the meantime and will be legal tender when making a purchase. Eventually, currency with Elizabeth's image will be phased out and recovered by the bank when they become worn out.
Will King Charles III be on the pound? Yes, King Charles' portrait will appear in the front of all the bills, while the other iconic British figures will be on the back. The Bank of England states that "no additional changes to the banknote designs will be made."
Republicanism isn't a strong force in Britain at the moment, which makes the abolition of the monarchy unlikely for the foreseeable future. But that could change if the institution does, or if it fails to attract the support of the younger British population.