Who Inherits Queen Elizabeth’s Money? A Look Back at the Monarchy’s Wealth
The royal family has massive wealth through real estate holdings passed on through generations. But will Prince Charles become king and inherit most of Queen Elizabeth's money?
Sept. 8 2022, Updated 1:44 p.m. ET
There is no doubt that Queen Elizabeth II, the subject of endless fascination by non-royals, is a wealthy woman. The 96-year-old English monarch has had the longest reign in the nation’s history. She took over the throne in 1952.
Sadly, it was reported that the Queen passed away at Balmoral Castle on September 8, 2022.
The United Kingdom just celebrated her Platinum Jubilee in June, marking 70 years as the reigning monarch. Now, her eldest son Prince Charles is set to assume the crown — but who will inherit Queen Elizabeth’s money?
Queen Elizabeth II on the balcony of Buckingham Palace during the Platinum Jubilee Pageant.
Prince Charles is first in line to become king following Queen Elizabeth's death.
Prince Charles, the firstborn of Queen Elizabeth II and her late husband, Philip Mountbatten, will become king. He has been first in line for the succession of the throne since birth and plans to take over in the event of his mother’s death.
Queen Elizabeth never showed any interest in abdicating the throne and was always fully devoted to her duty as the queen.
It can be assumed that Prince Charles will also inherit possession of Queen Elizabeth's money and properties. He currently owns and operates the Duchy of Cornwall, which is an estate in the country estimated to be worth $1.3 billion.
Members of the Royal Family in 2019, including Prince William; Catherine, Duchess of Cambridge; Camilla, Duchess of Cornwall; and Prince Charles.
Now that Queen Elizabeth has died, Charles will assume the throne and control of the Sovereign Grant. His son, Prince William, is next in line for the crown. When his father is king, William will take over the Duchy of Cornwall.
Since each member in the line of succession will inherit ownership or control of the next person in line, it’s likely that Charles will inherit the bulk of the estate. William will be next in line, while his brother Prince Harry, has largely walked away from the royal family's benefits and responsibilities.
Most of Queen Elizabeth’s wealth was tied to property ownership.
Queen Elizabeth received 25 percent of income produced by the Crown Estate, a real estate portfolio. The Sovereign Grant provided her with this income each year to cover living expenses, transportation, and other household costs.
Queen Elizabeth II after her coronation ceremony in Westminster Abbey.
The estimated value of the crown’s assets as of March 2021, according to Forbes:
Crown Estate worth $19.5 billion
Buckingham Palace worth $4.9 billion
The Duchy of Cornwall worth $1.3 billion
The Duchy of Lancaster worth $748 million
Kensington Palace worth $630 million
Crown Estate Scotland worth $592 million
Queen Elizabeth’s net worth has been hard to pin down, but it was estimated at $600 million before her death.
The royal family has understandably been reluctant for their wealth to be public knowledge since British taxpayers fund much of their income. According to CelebrityNetWorth, Queen Elizabeth’s net worth was about $600 million. (Forbes estimated her personal wealth at $500 million last year in castles, jewels, and investments.)
Other sources of Queen Elizabeth’s wealth included a valuable stamp collection inherited from her grandfather (worth about $134 million), her mother’s estate ($94 million), and private furniture, jewelry, and art holdings.