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The Queen net worth 2018: How much is Queen Elizabeth worth and where does the royal family's wealth come from?

Evening Standard logo Evening Standard 18-12-2018 Margaret Abrams
Elizabeth II wearing a red hat © Provided by Independent Digital News & Media Limited

What is Queen Elizabeth's net worth? HRH is famously frugal, keeping warm with a £30 heater and using the same £7.99 brand of nail varnish for 30 years. As Sir Evelyn de Rothschild, who was once an advisor to the Queen put it, “No one is tighter at spending than the Queen. She grew up during the war. Very disciplined.”

But the Queen is also fabulously wealthy, ranked 344th on the 2018 Sunday Times Rich List, with a wealth portfolio that spans everything from art and diamonds to wind farms. 

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Here's the breakdown of what the Queen owns, how much her husband Prince Philip makes, and where exactly the Queen's income comes from. 

What is the Queen's net worth?

Elizabeth II wearing a hat: Queen Elizabeth II (Getty Images) © Provided by Independent Digital News & Media Limited Queen Elizabeth II (Getty Images)

The 91-year-old monarch is by far the richest member of the Royal family. As of 2017, the British monarchy was worth around $88 billion, according to Forbes, and Queen Elizabeth was personally worth about $520 million.

How much is Prince Philip worth?

a man looking at the camera: Prince Phillip (PA) © Provided by Independent Digital News & Media Limited Prince Phillip (PA)

It pays being married to the Queen - literally. Prince Philip is reportedly worth somewhere around $30 million. After the Sovereign Grant Act of 2011, Philip received an annual Parliamentary annuity of about $500k, which is for all of his public duties. He officially retired from his position in 2017, at the age of 96.

What properties does the Queen own?

a large stone building with Buckingham Palace in the background: Buckingham Palace (Steven Paston/PA) © Provided by Independent Digital News & Media Limited Buckingham Palace (Steven Paston/PA)

The Queen benefits from the Crown Estate, which earns about $400 million per year, including revenue from 263,000 farmed acres and buildings in central London. Buckingham Palace is owned by the reigning monarch - as part of the crown estate - but it is not the Queen's personal property.

The Crown Estate also holds $11 billion worth of property in the UK. Though Queen Elizabeth doesn’t technically own all of the properties, she does get to spend about 15% of the income generated by the Crown Estate. This money is usually used to pay for Queen Elizabeth’s events, including garden parties, receptions, and her travel costs, although she is travelling much less lately.

A few royal properties are personally owned by the Queen: the $140 million Balmoral Castle, where she vacations every summer, and the family’s $65 million country home, Sandringham, where the royal family spend Christmas.

What is the Queen's income and where does it come from?

a pair of red shoes: The Imperial State Crown is part of the Crown Jewels collection (Getty Images) © Provided by Independent Digital News & Media Limited The Imperial State Crown is part of the Crown Jewels collection (Getty Images)

Much of the Queen's income comes from trusts that are part of the royal collection. The trusts include certain national treasures, including the crown jewels and the Tower of London, which the Queen holds for the rest of the nation. Though she doesn't own them outright, they make up her vast portfolio. Buckingham Palace and Windsor Castle are also held in trust.

Some items in the royal collection do belong to the Queen, including a royal stamp collection passed down by her dear old dad King George V, and certain personal real estate holdings.

Queen Elizabeth also makes money from horse racing. She's won nearly $9.2 million in prize money over the years for her racehorses, with 451 wins.

The Queen owns the Crown Jewels 'in the right of the Crown' - which is where many of the famous tiaras worn at royal weddings and state dinners come from. The ownership passes from one monarch to the next, although they're maintained by the Crown Jeweler. Said jeweller cleans the gems at the Tower of London yearly (after the visiting hours are over). The 140 pieces are worth estimated $4 billion.

How do the Royal family make money?

George of Cambridge, Prince William, Duke of Cambridge, Elizabeth II, Prince Harry, James, Viscount Severn posing for the camera: The Royal Family (Getty Images) © Provided by Independent Digital News & Media Limited The Royal Family (Getty Images)

The Queen also receives a salary. Her income recently doubled, rising to $97.2 million. The private income from the Duchy of Lancaster rose most recently in 2017. It comes from a portfolio of land held in trust for the current reigning monarch. It's used to pay for "extras," like funding the other members of the royal family and items that aren't part of the Queen's official business - that's taken care of by the government.

She also received a raise from an increase in taxes, used to pay for all of the Buckingham Palace renovations. That money comes from the Sovereign Grant, which is the portion of her money paid by taxpayers for her official duties, including the upkeep of all the palaces the royals live in (this is according to the official Royal website, which tracks Queen E's finances and shares them with the people).

According to The Washington Post, much of the Queen's private income is invested offshore. It's estimated that $12 million is in Bermuda and the Cayman Islands.

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