Being Royal ‘Costs’
We all know that being a part of the Royal Family entails a lot of publicity 24/7 but also provides a life filled with luxuries beyond belief. The Royal Family goes through a lot on a daily basis; from Royal engagements to paparazzi to making sure they look their best at all times, they are never found to be bored or even just ‘relaxing.’ With all of this being said, there is no shortage of money with the Royal Family; they never seem to run out.
According to The Telegraph Reports, it costs at least $368 million (300 million pounds) per year just to run the British Monarchy. In 2015, the Royal Family generated $325.8 million and received about $48 million from the British government. The $368 million includes the personal spendings of each family member, travel expenses, and even the payroll of their employees. The queen also has a considerable net worth; about $414.7 million.
Sophomore Emily Noden says, “I was stunned when I heard about the queens net worth, I knew it was high, but I did not know that is was over $400 million!”
Most of the Royals money comes from the people of Britain. Costing each taxpayer 69 pence per year according to the crown estates annual accounts, which is equivalent to about 334 million pounds in total. Over hundreds of years, the Royal family has inherited over 18,000 acres which add to their Royal fortune. According to the Royal Family Website, from 2015-2016 the Royal family made about $21.7 million coming from their residential, commercial, and agricultural properties.
Last year, according to The Telegraph, Prince Charles spent 4.96 million pounds on his children, their spouses, and their children’s activities last year. The amount went up from previous years which was caused by the Royal engagement of Prince Harry to Meghan Markle.
Sophomore Ella Lau says, “I have been very invested in the Royal families engagements. When I heard that Prince Harry was getting married, I was immediately intrigued!”
The Royal weddings of both Prince William and Prince Harry are both two substantial royal expenses. The 2011 wedding of Prince William to Kate Middleton cost about $34 million, with a guest list of about 1,900 and 23 million people watching in America. The 2018 marriage of Prince Harry to American Meghan Markle costing around $45.8 million and was viewed by about 29.2 million people exclusively from America.
The Royal family relies on the interest of people from all over the world to fund their engagements. If it were not for the public interest that the Royal family garners now, the family would not have the wealth that they have today.