From The Queen To Meghan Markle, Here’s Where The Royals Get Their Money

With dazzling personalities such as Queen Elizabeth II, Meghan Markle and Kate Middleton, members of the British royalty are among the most adored figures in modern times. But most fans have always wondered just how they manage to support their lavish and opulent lifestyle. Here are the sources of income for some of the royal family members.

Queen Elizabeth II

The personal wealth of Queen Elizabeth II, the world’s longest-reigning living monarch, is estimated to be around $520 million. She has three main sources of income, namely, income from her personal investments and properties, a percentage of the income from the Sovereign Grant and income from the Duchy of Lancaster estate.

The Queen receives between 15 and 25 percent of the annual profits of the Sovereign Grant, which in turn gets its earnings from the Crown Estate, a collection of real estate and other assets of the monarchy. The grant was set up to cover the costs of starring, security, travel and the upkeep of the royal palaces. In the fiscal year 2016-2017, the Queen received £42.8 million or around $58 million from the grant, which is tax free.

Meanwhile, the Duchy of Lancaster is the private estate of the British sovereign meant to provide an independent source of income to the monarch. It owns a total of 18,433 hectares of various commercial, residential and agricultural properties across England and Wales. During the latest fiscal year, the Duchy generated £19.2 million or around $26 million for Queen Elizabeth II.

Lastly, the Queen owns various personal properties such as the Sandringham Estate and Balmoral Castle. She also owns a stock portfolio.

Prince Charles And Family

Prince Charles gets most of the income from the Duchy of Cornwall. It has a massive 135,000 acres or around 55,000 hectares of land, which is roughly equivalent to 2 percent of Cornwall. The value of the estate is estimated to be over $1 billion.

The Duchy’s income for the fiscal year 2015-2016 was reported to be £33.5 million or around $40.8 million. It was reported to have made £20.7 million or around $28 million in the recent fiscal year. While the Duchy’s income is supposed to be exempt from corporate tax, Prince Charles has been voluntarily paying taxes since 1993.

The Duchy was set up to cover the expenses of the Duke of Cornwall and his immediate family. This means that the expenses of Charles’ wife, Camilla; Prince William and Kate Middleton; and Prince Harry and Meghan Markle are covered by the Duchy of Cornwall as well.

In addition, Prince Charles also has a share of the Sovereign Grant’s income. He and Camilla reportedly received £1.3 million from the fund.

Prince William And Kate Middleton

Official expenses of Prince William’s household are covered by the Duchy of Cornwall. In addition, around £6.6 million or $8.9 million is split between him and his brother, Harry, for their royal savings account, as well as non-official purchases.

Since he turned 25, Prince William has been receiving a sizable annual dividend of around $450,000 from a fund set up by his late mother, Princess Diana. He also received a lump sum amounting to £10 million or around $14 million from this fund when he turned 30.

Previously, his annual salary as an East Anglian Air Ambulance pilot is $62,000. However, he already quit the post to focus on his royal duties.

Prince Harry And Meghan Markle

Prince Harry shares with his brother the £6.6 million ($8.9 million) amount budgeted to them from the Duchy of Cornwall, intended for Harry’s royal savings account and “non-official” purchases. He also received a £10 million lump sum when he turned 30, as well as an annual dividend of $450,000 since turning 25 from the fund set up by his late mother, Princess Diana. He used to earn £40,000 a year during his 10-year stint with the Royal Air Force, which lasted from 2005 to 2015.

Meanwhile, Meghan Markle was paid more than $50,000 per episode for her role in the hit American legal drama “Suits.” She amassed a fortune valued at around $5 million from her acting career in the United State. However, she already quit acting when she married Prince Harry and became the Duchess of Sussex.