Queen Elizabeth's $500 million fortune: Who gets what?
In her 70-year-long reign, the late Queen Elizabeth II amassed an estimated $500 million in personal assets. Technically, this fortune will now be inherited by Prince Charles when he's formally crowned as king.
What does Charles get directly in hand?
The Queen's private assets would go directly to Charles. This includes the Queen's art collection, jewellery, and real estate holdings such as the Sandringham House and the Balmoral Castle, the summer retreat and royal residence where Charles's mother passed away.
The former monarch's art collection includes sketches and canvas paintings by legendary artists ranging from Michelangelo and Leonardo da Vinci to Rembrandt van Rijn.
What does Charles get indirectly?
The other sources of royal wealth include the Crown estate lands like the Buckingham Palace and Windsor Castle, the Royal Collection of art and jewellery, and everything preserved by the Royal Archives. All of this will be held by the monarchy as an institution, ritually passing down to the successor. However, unlike the personal fortune, Charles will be getting this "in trust". The Crown Jewels worth $3 billion will similarly be a symbolic property of Charles.
As the new King of England, he also gets the land and assets of the Duchy of Lancaster (valued at $442 million as of 2011). The revenues of the Duchy also constitute the Privy Purse. The Purse is used for personal expenses not borne by the parliamentary grants. Yet again the Duchy and its earnings are in trust.
What does William get?
Prince William, Charles's eldest son and the next in line for succession, will similarly inherit the Duchy of Cornwall and the revenue that it would generate (from tourist visits and film/TV show shootings). He, however, has no stake in Queen Elizabeth II's personal wealth.
What are the assets that cannot be sold?
The Crown as an institution holds over $28 billion in real estate assets as of 2021, all of which cannot be sold or inherited as personal possessions. These include:
- The Crown Estate: $19.5 billion
- The Crown Estate of Scotland: $592 million
- Buckingham Palace: $4.9 billion
- The Duchy of Cornwall: $1.3 billion
- The Duchy of Lancaster: $748 million
- Kensington Palace: $630 million
So, while it is difficult to estimate Prince Charles's exact net worth as of now, this is the cost breakdown of his new finances as king. As of the remainder of the Queen's will, the Royal Family is highly unlikely to reveal the details.
On the other hand, there is Charles's disgraced brother Prince Andrew who has been on an ongoing exile from the family after his connections with sex offender Jeffrey Epstein surfaced on the news. Now that Charles is king, there is speculation on whether Andrew's royal exit will be permanent or not.