14 Surprising Facts About the British Royal Family’s Money

Jami Farkas    Sat, September 24, 2022

Even though the British royal family holds only symbolic power, King Charles III and his heirs still make millions.

The new king and sons Prince William and Prince Harry all make money from personal sources of wealth. As working members of the royal family, King Charles and Prince William also benefit from government money as well as from the income from estates that have been passed down through generations. Want to learn more about the British royal family? Click through to learn interesting facts about the royal family's wealth.

The King Receives a Sovereign Grant From Taxpayer Money.

The sitting monarch receives a Sovereign Grant from the HM Treasury to pay for the salaries of household staff, official travel expenses and the upkeep of the palaces.

The grant comes from profits from the Crown Estate. In the 2021-22 budget, the Sovereign Grant was £86.3, equivalent to £1.29 per person, the BBC reported. In U.S. dollars, those figures equal about $98.5 million and $1.50.

The Sovereign Grant Changes From Year to Year.  The Sovereign Grant currently is equal to 25 percent of the Crown Estate's total profits, so when profits rise, so does the size of the grant.

The Crown Estate does not belong personally to the monarch or the royal family. It is managed by an independent group, and remaining 85% of profits go to the treasury to benefit all residents of the United Kingdom. The holdings of the Crown Estate are worth more than £7.3 billion -- $8.3 billion in U.S. money - and includes everything from beef farms to facilities for stone mining.

The King Gets Additional Income From the Duchy of Lancaster.

The Duchy of Lancaster refers to the portfolio of land, property and assets held in trust for the king or queen of England, and it provides the head of the royal family with an independent source of income outside of the Sovereign Grant.

For the year ending March 2022, the Duchy of Lancaster delivered a net income of £24.0 million ($27.4 million).

The King Also Has His Own Personal Wealth and Income.

Other sources of money for King Charles III are the personal investment portfolio and private estates, which include the Balmoral and Sandringham Estates that have been passed to him since the death of Queen Elizabeth II on Sept. 8. Forbes valued the inheritance at $500 million. The royal palaces and Crown Jewels are not part of his personal wealth, as they must be passed on to his successor and are not his to sell.

King Charles III has the highest British royal family net worth at $600 million and is by far the richest member of the royal family.

Prince William Gets His Money From the Duchy of Cornwall.

While the king gets income from the Duchy of Lancaster, the Prince of Wales, William, gets his income from the Duchy of Cornwall.

The estate, which is one of the oldest and largest in Britain, is spread throughout England and contains agricultural, commercial and residential property. The Duchy also includes a financial investment portfolio.

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