The Director of the Heritage Foundation accuses the Duchess of spreading misinformation about the royal family.
The British royal family is among the most famous organizations in the world – and it is also an expensive organization.
Nowadays, the royal family is known for its luxurious weddings, extensive walks and remarkable fashion, as well as for its contributions to its nation.
But how do they pay for security, travel, dinners and more?
According to the BBC, royalty accumulates its fortune, in part, through the taxpayer-funded Sovereign Grant.
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However, the queen and the other royals receive the money in return for handing over the profits from their numerous properties – called the Crown Estate – to the government, according to Business Insider.
Queen Elizabeth II hands over the Crown Estate’s profits in exchange for the Sovereign Grant, which covers some of the family’s expenses before the Duchy of Lancaster covers more. (Getty Images)
Each year, the queen will receive a grant amount equivalent to 25% of Crown Estate’s profits, reports the outlet.
The concession will pay for the maintenance of the palace, family trips, royal staff payroll and more, but according to the Telegraph, the concession does not cover security costs and actual ceremonies, per BI.
The money for these goods and events comes from a portfolio of land that the family has owned for generations, called the Duchy of Lancaster.
The Duchy is made up of residential, commercial and agricultural properties, reports the Insider, and contains $ 715 million in net assets.
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In 2019, the portfolio raised $ 27 million, reports The Wall Street Journal.
The money is earmarked for “expenses incurred by other members of the royal family”, as stated by the royal family website.
As you would expect from a monarch, Queen Elizabeth II also has a huge collection of art, Balmoral and Sandringham Estates and more, according to a WSJ podcast.
Another Duchy – the Duchy of Cornwall – covers the expenses of the Queen’s son, Prince Charles, his family and heirs. The Duchy of Cornwall covers Duchess Camilla, as well as Prince William and his family, reports BI.
Prince Charles, son of Queen Elizabeth II, also oversees the Duchy of Cornwall, which covers his family’s expenses. (Getty)
Charles’s son, Prince Harry, and his wife Meghan Markle are financially independent and will earn money through their signed deals with Netflix and Spotify.
According to the vehicle, The Wall Street Journal estimated the value of the Duchy of Cornwall at $ 1.2 billion in 2019.
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In total, the Queen and Prince Charles control most of the family’s money and divide it among the various members of the family.
Other family members, more distantly related, such as Princess Beatrice and Princess Eugenie, have full-time careers outside the royal family.