Recently, it was revealed that anyone could pay to have their wedding at Kensington Palace, but is this a sign that Queen Elizabeth will have a drastically low net worth in 2017? Alternatively, is this simply a small way that Queen Elizabeth is accepting her ever-growing popularity due to television shows like Netflix’s The Crown?
Fans of The Crown are likely enticed by the British Royal Family due to the popularity of the television series about Queen Elizabeth’s life, and now there is a way to contribute to the Queen’s net worth in 2017 by renting a piece of royal history.
According to People, it was announced at the first of the year that part of Kensington Palace, where Prince William and Kate Middleton live, was available for weddings for $15,000. Likely, this was a decision, not by Queen Elizabeth, but by the Crown Estate that belongs to her but is not part of her private estate. This trust is run by the Crown Estate Commissioners, but Queen Elizabeth is not in charge of the daily transactions.
The property available for fans of The Crown to rent for their own wedding is called the Orangery, and it is not associated with the residence of Queen Elizabeth.
The space has been converted into a wedding venue and is a former indoor greenhouse that was built in 1704 for Queen Anne’s orange trees. There are also three other royal locations associated with Queen Elizabeth’s trust that The Crown fans can use as a wedding venue including Hillsborough Castle, Hampton Court Palace, and the Banqueting House.
Regardless of the way that she builds her net worth each year, Queen Elizabeth has been very proud to share in the same income taxation system that is used by everyone else in England since 1993. Nevertheless, Independent reported that Queen Elizabeth’s net worth is technically a secret, but she does have a yearly income in addition to her inherited fortune and money collected from investments.
In 2011, Queen Elizabeth’s net worth was estimated at $500 million, according to Forbes. Unfortunately, some consider this to be an underestimation, and it can sometimes be difficult to pinpoint exactly which portion of the British Royal Family’s net worth is specifically Queen Elizabeth’s.
For example, Queen Elizabeth also owns several properties such as a fruit farm, marine lands, and Balmoral Castle that have not been precisely detailed in the past — but are generally thought to contribute to her overall net worth.
Queen Elizabeth also has several unique personal assets such as her jewels that are used as investments, but do not generate income each year toward her net worth. In addition, Queen Elizabeth owns priceless assets that would be difficult to value such as the Royal Philatelic Collection AKA the world’s largest stamp collection.
Queen Elizabeth also pays for personal expenses with a private property called The Duchy of Lancaster. Consisting of over 18,000 hectares, in 2013, the private profits were $19 million.
Outside of Queen Elizabeth’s personal net worth from private investments, she gets 15 percent of what is made from The Crown Estate. This is a new change that replaced the Civil List payments in 2010 with what is called the Sovereign Grant.
The amount of money given to Queen Elizabeth by the Sovereign Grant is substantial. In 2015, Queen Elizabeth got a payout from a Sovereign Grant for her 15 percent, and she received $61 million. This money also goes towards paying for travel, parties, and the upkeep of properties such as Buckingham Palace, according to Time.
Part of the way the Crown Estate funds Queen Elizabeth’s Sovereign Grant is by owning a lot of exclusive real estate. For example, they currently own an estimated $15 billion worth of real estate including Buckingham Palace (estimated at $5 billion alone), Windsor Great Park, and the Royal Ascot racecourse.
The Crown Estate also owns residential properties, office buildings, and retail spaces such as Worcester’s CrownGate Shopping Center, according to MSN.
Interestingly, after Queen Elizabeth’s coronation in 1953, her net worth was extremely low and it stayed that way for the duration of time that has been represented in the Netflix series The Crown. This figure was based on an inheritance Queen Elizabeth received when her father, King George VI, died in 1952.
After Queen Elizabeth’s mother died in the 1970s, she finally inherited a large sum of money. Interestingly, it was not revealed until 2002 to the British public that this sum of money was over $50 million.
Outside of her paycheck from the Sovereign Grant or private properties, Queen Elizabeth also collects weird rent forms outside of money. Called the “Rendering of the Quit Rents,” each year a London ritual is to pay Queen Elizabeth 61 nails, a billhook, and a hatchet.
This paying of the rent is symbolic but has been taking place since 1211. Obviously not contributing directly to Queen Elizabeth’s 2017 net worth, according to UPI, the actual location of the Queen’s property has been lost over the centuries.
Other sources of income for Queen Elizabeth include her good luck with horses, and she owns the Churchill Downs of England via the Crown Trust called the Royal Ascot racecourse. In fact, at the end of 2016, Queen Elizabeth posted a picture of herself on Instagram reuniting with her old racehorse, Quadrille, while she was opening the National Heritage Center for Horseracing and Sporting Art.
Queen Elizabeth’s horses are often winners, according to Great British Racing, but there are still rumors that the British Royal Family are secretly broke. For example, in 2014, it was suspected that Queen Elizabeth was putting the British Royal Family on financial restriction because of overspending by the Buckingham courtiers, according to Telegraph.
Although Queen Elizabeth keeps many matters private, including financial ones, the real question for many British Royal Family fans is who will inherit Queen Elizabeth’s 2017 net worth if she dies? Obviously, Queen Elizabeth’s title will go to her son, Prince Charles — but this accumulated net worth could also go to Prince Philip if she dies before he does.
In general, it was estimated in 2013 when Prince William Duke of Cambridge and Kate Middleton had their first baby that Prince George would inherit $1 billion from Queen Elizabeth and the rest of the royal family. This includes an estimated $660 million from Queen Elizabeth, $370 million from Prince Charles, $20 million from Prince William, and $16 million from Prince Harry.
Perhaps one of the most interesting aspects to Queen Elizabeth’s net worth is that her family seems to care little about her holding a majority of the inheritance. Interestingly, Wealth X reported in 2013 that Prince Philip only has $350,000 in net worth. Despite this, Prince Philip does not care about how much money his wife has.
In a Newsweek 2015 article about Queen Elizabeth’s husband, Prince Philip, they reveal that she appreciates him because he does not hesitate to be the only one to “treat her like a real person” and not a woman with a title and net worth of royal proportions.
As far as Queen Elizabeth’s net worth in 2017, there is a likelihood that the Sovereign Grant will continue to pay more each year. For example, between 2015 and 2016, it was estimated that the Crown Estate increased overall profits by over seven percent.
[Featured Image by Annie Leibovitz/Getty Images]