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Queen Elizabeth II left behind an estimated £430 million fortune after her passing. But do you know ‘who inherits the most of it’? Well, inheritance among royals is never made public. This means what happens to monarchs’ wealth remains a secret for decades after their death.
King Charles III, who is the eldest son of Queen Elizabeth II has received more than simply the Crown. He has received the vast bulk of the Royal family’s fortune from his mother, who passed away in September of last year. Read this article to know how inheritance works in the British royal family –
Who inherited the Queen’s wealth?
King Charles not just inherited the throne after his mother Queen Elizabeth’s death, but he also is the sole beneficiary of his mother’s fortune, including her £650 million estate. While it is not customary for British monarchs to disclose their finances, as per reports, it has been estimated that the queen’s private wealth was £370 million ($426 million), including her art collection, jewels, investments, racehorses, and two residences, Balmoral Castle in Scotland and Sandringham House in Norfolk. She inherited both residences from her parents and these are now owned by King Charles III.
Why is there only one owner of the Queen’s possession?
As per the deal signed between the Crown and John Major’s government in 1993, the monarch is exempted from paying inheritance tax. According to the “Memorandum of Understanding on Royal Taxation,” the king holds some royal assets as a sovereign, not as a private individual.
What’s the primary source of income for the royal family?
The Crown Estate, the Duchy of Lancaster, and the Duchy of Cornwall are the three primary sources of revenue for the royal family.
Will King Charles share his inheritance with his siblings?
It appears that King Charles has no plans of splitting his inheritance between his siblings. Although, The Sovereign Grant can provide Anne and Edward with assistance because they are working royals. But Andrew, who resigned from his position as a working royal in 2019 depends on the King’s generosity to fund his style of living.
Also read: 25 lesser-known facts about Queen Elizabeth II | PINKVILLA
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