4 Astonishing Facts About Royal Wealth & Their Money Making Methods
Cracking the Code of Royal Finances.
Royalty is not all gold coin showers and a reality show of flaunting wealth, it is a long document of legal ways they can extort money from the country to keep their hot water running.
Yes, you read that right, the Royals, like everyone else, have gone through financial hardships too (as rumored in the 1960s). There are 3 known ways the Royal Family earns their money:
- The public Sovereign Grant
- The private Duchies of Cornwall and Lancaster (mouthy words I know).
Joys of having rich ancestors
Generation wealth is something not everyone is privy to, we know it to be unfair, yet we know these people sit at the top of the economic hierarchy. Queen Elizabeth was another example of this inherited lifestyle, her income was made on the profits she gained from the artworks and estates her father had passed down to her.
Moreover, there’s the Sovereign Grant where the Royal Family has a legal claim to 25% of the profits made from handing the Crown Estate (their vast collection of properties) over to the Government and letting them be in charge of maintaining it thus not lifting a finger to actually put in the effort to work. This is taxpayer money that quite literally goes into keeping their lights on and their royal employees happy.
Getting their hands dirty
However, that in itself is not enough to keep all the essential parts of their finances covered, i.e. their security and royal ceremonies.
This money comes from means of profits from private properties controlled by the Duchies of Cornwall and Lancaster. Some Royals are members of the working society, whereas others have long-standing military careers in the British Army, Royal Navy, and even Olympics competitors such as Princess Anne.
Their love and passion for their careers go way beyond their title and personal income yet they were reportedly ready to give it all up if Queen Elizabeth needed aid in keeping the country and parliament happy.
However, with the exception of Prince Harry, no Royal working for the Crown is allowed to partake in any other means of earning. They earn money however from royal engagements, partaking in social events, high-tea parties (very official), and attending events as representatives of the Queen.
Not to mention, divorce settlements weren’t cheap either. Princess Diana, for one, received a settlement amount of £400, 000 that she never even had to touch thanks to her inherited wealth.
Charity for the rich
The artwork owned by the Queen (despite her not being the artist) is called the Royal Collection and it is maintained by a registered trust charity that makes bank on the admission fees of visitors who tour Palaces and the Royal Collection, along with museums who loan these pieces for exhibits, private showings, etc.
Similarly, there is the Duchy of Lancaster, which is another extensive collection of the Royal heir’s privately owned properties such as the Oval cricket ground in London, holiday cottages, and other scenic properties. After the passing of the Queen, the Duchy is now owned by Prince William and it is said to pay for the parties and charitable events of the Duke and to support their family.
Family Drama Ensues
Duchy Organic, the largest organic food and drink brand, was founded by Charles and passed down to William, the profits of which go to charity and contribute to various projects.
King Charles also earned a lot of profit through his artistic skills, displaying them in events and exhibitions to the keen public eye.
Just by this, it is reported to have made $2.5 million (despite the mediocre talent). After renouncing their Royalty, Prince Harry and Meghan Markle received a considerable sum to compensate for their loss in income (95% of the money they made was through King Charles whereas the rest was through the Sovereign Grant).
However, the opposite has been stated by Harry in an interview where he said they had “literally cut me off financially”.
They are doing pretty well for themselves, signing on Spotify and Netflix deals, pushing out book publishing contracts, etc, and making the most of their developed fame.
Final Thoughts
The idea of them ever going financially broke is baffling considering they could pocket the entire country’s income under the pretense of a “loyal citizen tax”.
And if that wasn’t enough, they are all blessed with individual talents that keep them in the spotlight, they could sell their DNA for millions, and their unique talents help them keep the community intact.
In my opinion, they are never really ever going to run out of financial assets, but they should look into investing this giant vault of gold coins into the betterment of the country and giving back to the citizens, helping the poor, providing enough support to the broken down, decaying parts of cities.
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