Once upon a time, Queen Elizabeth was the richest person in England, according to The Sunday Times Rich List. That was in 1989 though, and today, things are a little bit different.
In fact, for the first time since she topped that list so many years ago, Queen Elizabeth is not even among the top 300 richest people in England. This year, Queen Elizabeth landed at No. 302 on the list with a total net worth of £340 million. When she first topped the list in 1989, Queen Elizabeth had a total net worth of £5.2 billion, according to The Sunday Times Rich List.
Looking at numbers alone, it appears as if Queen Elizabeth’s total net worth has drastically decreased during the past 26 years. However, according to The Daily Mail, the queen’s wealth hasn’t decreased nearly as much as it would appear. In an article published on Saturday, the media outlet wrote about it.
“The rules of the list have changed to stop counting the value of assets such as the royal art collection, which could not be described as her personal wealth.”
The majority of Queen Elizabeth’s wealth comes from property holdings and farms, a large jewelry collection, as well as a large stamp collection, according to The New Daily.
Queen Elizabeth’s new ranking of 302 is down from last year’s ranking of 285, despite the fact that the queen’s wealth has grown by more than £10 million since the list was released in 2014.
According to The Sunday Times, the number of billionaires in Britain has greatly increased during the last decade. This year’s Rich List, which was released on Sunday, includes 117 billionaires, representing a 12 percent increase from the number of billionaires on the 2014 list. Of those 117 billionaires, only 62 are British.
In order to be included on the list, one must have a net worth of at least £100 million and must be based — living and working — primarily in the country. That means, for example, that George Clooney, who married British citizen Amal Clooney this past year, was included on the list for the first time. (Together, the Clooneys ranked No. 790 on the list with a total net worth of £121 million.)
Ranked No. 1 on the list is media mogul Len Blavatnik, who has an estimated net worth of £13.17 billion.
While Queen Elizabeth has never topped out at such a large number, media outlets across Britain can agree: The queen’s falling ranking is not due to a falling fortune. Instead, falling out of the top 300 is a result of an increase in the number of billionaires in the country. In 2015, the wealthiest 1,000 people in Britain had a total net worth of nearly £550 billion.
And that kind of wealth is hard to compete with, even if you are Queen Elizabeth.
[Photos by Christopher Furlong/Getty Images and WPA Pool/Getty Images]