British royals by the numbers: Queen Elizabeth leaves behind a fortune with a murky future
Queen Elizabeth II died (September 19, 2022) at age 96, after reigning for seven decades. Charles, her oldest son, became the new King of the United Kingdom immediately upon her death. Interestingly, Charles’s succession to the crown has also led some leaders of Commonwealth countries, particularly in the Caribbean, to call for the removal of the British monarch as their head of state. After 70 years, the Queen’s death is causing quite a shakeup—and it could have implications for the royal family’s “brand,” too. To what extent? It’s far too early to say, but we do have a general idea of what’s at stake—at least monetarily speaking.
The royal family’s business interests—sometimes called “The Firm”—are sprawling. Forbes estimates that “The Firm” amounts to a multibillion-dollar money-making enterprise, which also brings in a significant amount of money into the U.K. economy each year. Though the royals serve in largely symbolic roles, they do carry economic weight, whether it is spurring tourism, holding special, televised events (such as jubilees), or even inspiring TV shows like Netflix’s The Crown, or tabloid sagas like the one concerning Meghan Markle and Prince Harry in recent years. In short, the royals wield a competent commercial cudgel.
Further, the family’s cozy relationship with the press—something that Prince Harry once called an “invisible contract“—helps keep ratings and tabloid sales up, too.
The monarchy is also supported by the taxpayers through a fund called the Sovereign Grant, which amounted to more than £86 million in both 2021 and 2022. That is funding that is allocated annually to the royal family, and which pays for travel, property maintenance, and more. In aggregate, the royal family’s finances are a somewhat complex web of assets, income, and expenses. Here are some of the top-line financial figures:
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