Queen Elizabeth II will not only cede the British crown to her son Charles, but also most of her personal fortune, valued at £370 million, or just over CA$550 million.
• Also read: Death of the Queen: Paul St-Pierre Plamondon resists lowering the flag
• Also read: Death of Elizabeth II: Canada and the rest of the world in mourning
• Also read: Here is the new order of succession to the British throne
“Most of Elizabeth II’s wealth” will go to Charles, said Agence France-Presse David McClure, author of a book on the finances of the sovereign, who died today at the age of 96.
“It is likely that the Queen will leave a will and that small sums will be paid” to other members of her family, Mr McClure added.
No tax to pay
Amounts left in inheritance by whoever sat on the throne for more than 70 years are not taxed under an exemption granted by London to the head of the monarchy.
The exact extent of Elizabeth II’s personal wealth is unknown. In May the British newspaper Sunday times valued it at £370m, £5m more than in 2021.
Photo Adobe Stock
Notably, Charles inherited Sandringham House, a palace in Norfolk in eastern England.
Her main assets include Balmoral Castle in Scotland, where she died, which was worth at least $140 million in 2016, according to American magazine forbes. Sandringham House, another property he personally owns, is said to be worth $65 million.
Photo Adobe Stock
Balmoral Castle is now his personal property as well.
Race Stamps and Winnings
The Queen was also the owner of a prestigious collection of Commonwealth stamps founded by her grandfather, George V. According to David McClure, her value is estimated at £100 million (about CAD$151 million).
Photo archive, AFP
A horse in the finish of the recent edition of the famous Epsom Derby. Between 1988 and 2022, Elizabeth II made cumulative winnings of £8.7 million (CA$13.1 million) from winning bets on horse racing.
An avid horse racing fan, Elisabeth has also racked up £8.7 million (CA$13.1 million) in winnings from this passion since 1988, according to betting site OLBG.
After all, the Queen owned a stock portfolio as well as a collection of works of art, the exact value of which is a mystery.
It should be noted that she inherited at least £50 million (CA$75 million) of her mother’s fortune in 2002, while last year she died of around £30 million (CA$45 million) after her death. received her husband, Prince Philip.
Even before he ascended the throne, the new King Charles was wealthy.
According to specialist website Celebrity Net Worth, his net worth reached $100 million (US$130 million).
Net worth of $28 billion
As for the wealth associated with the royal family, forbes estimates it at US$28 billion (CAD37 billion). That number includes mostly royal properties, including Buckingham Palace, which is worth US$4.9 billion (CA$6.4 billion). However, these properties do not directly belong to the monarchy.
Last year, the Crown Estate, which manages most of these properties, made a profit of £313m (CAD$471m). Three quarters of this sum went to the British Treasury, the rest to the Queen.
– With AFP