As the new Prince and Princess of Wales, William and Kate receive a majority of their income from a private estate called the Duchy of Cornwall, which was established in 1337 to financially support the heir to the throne, according to CNN.
So what did Kate Middleton inherit from Queen Elizabeth? Radar Online reported in September 2022 that Kate was expected to inherit $110 million in jewelry from the Queen's personal jewelry collection, which includes 300 pieces that belonged specifically to the Queen and not the Crown.
The Middletons own a popular party supply business called Party Pieces, and their shared net worth is about $50 million. Princess Catherine used to work for the family business before she married Prince William in 2011.
Nowadays one of his main sources of income is via the Duchy of Cornwall, which made profits of $26 million in 2020 and $24 million in 2021. According to Bloomberg, William will now earn $24 million a year from the Duchy of Cornwall.
Taking her many streams of income into account, the Queen earned a generous salary each year until her death According to the Evening Standard, this looked like an estimated $97.2 million in yearly income for Her Majesty in 2020.
Princess Charlotte has been refered as "the richest kid in the world" due to her status as a member of the British royal family, which is one of the wealthiest and most prominent royal families in the world.
Much of the royal family's expenses are covered by an annual taxpayer-funded payment known as the Sovereign Grant, which in the 2021-2022 financial year was set at 86.3 million pounds ($108m) – roughly 1.29 pounds ($1.61) for every person in the UK.
The monarchy is also not required to pay income or capital gains taxes either, but in 1992, Queen Elizabeth II announced she would pay income tax voluntarily. Soon after her son, the then-Prince Charles of Wales said he would too and it's expected the same will go for William.
The Queen only lives in one per cent of Buckingham Palace
But the highest-paid palace role is the keeper of the privy purse. The keeper, who can be paid around £180,000 a year, is responsible for managing the royal family's many expenses while also keeping costs down.
Nowadays one of his main sources of income is via the Duchy of Cornwall, which made profits of $26 million in 2020 and $24 million in 2021. According to Bloomberg, William will now earn $24 million a year from the Duchy of Cornwall. Related: How Long Was Elizabeth Queen?
He is also the father of Queen Elizabeth's great-grandchildren: Prince George, Princess Charlotte and Prince Louis. After Queen Elizabeth's death, Prince William inherited the Duchy of Cornwall, a private estate worth around $1.2 billion.
William and Kate have a four-bedroom apartment at Kensington Palace, and their sleeping arrangements depend on their individual preferences. The couple reportedly has a master suite that consists of two bedrooms, one for William and one for Kate, as well as a sitting room and a shared bathroom.
Common wedding tradition dictates that the bride's family pays for the ceremony, but just like Will and Kate's wedding, Prince Charles and the queen will be paying for much of the shindig.
After the princess' death, most of her personal jewelry was inherited by her two sons Princes William and Harry, with pieces loaned to her during her lifetime being returned to Queen Elizabeth II, where they are most likely to have been inherited by King Charles in 2022.
Representatives told Forbes in 2021 that Harry was not a beneficiary of any of the $100 million left to the royal family by his great-grandmother, the Queen Mother. It's unclear if Harry was left any money from his grandmother the late Queen Elizabeth II, whose will is expected to stay sealed for at least 90 years.
So what did Meghan Markle inherit from Queen Elizabeth? Representatives told Forbes in 2021 that Harry was not a beneficiary of any of the $100 million left to the royal family by his great-grandmother, the Queen Mother.
From 2018 to 2018, Harry's annual allowance from Duchy, which he shared with Meghan, was £5 million or $6.9 million. This paid for Harry and Meghan's public duties as working members of the royal family, such as wardrobe and travel, as well as private costs.
Sovereign Grant. The Sovereign Grant is paid annually to the monarch by the Treasury to fund the monarch's official duties, replacing the system of funding the Royal Household by a mixture of civil list payments and grants-in-aid.
1. The Royal Family of Saudi Arabia. The royal family of Saudi Arabia is the House of Saud and is undoubtedly the wealthiest royal family in the world. The royal family has been ruling the country since 1744 and is worth $1.4 trillion.
Despite not being King and Queen juuuuust yet, Kate and William have a huge staff thanks to their position as senior working royals—though unlike King Charles, their aides are not "men in gray" (the nickname given to the power players pulling the strings at The Firm).
Since the establishment of The Office of The Duke and Duchess of Sussex, 95 percent of the funding received for their Office expenditure is derived from income allocated by HRH The Prince of Wales, generated through the Duchy of Cornwall.
Not only does Prince William have more money than his brother, Prince Harry, for reasons that would cause any family to feud, but he's about to get even richer, too. Here's a breakdown of Prince William's net worth, and how his royal finances work.
It comes from the treasury and is funded by taxpayers, according to the BBC. The basic agreement is that the royal family gets the grant in exchange for surrendering all profits from the Crown Estate — the family's massive portfolio of properties — to the government.
Who inherits the Queen's wealth? King Charles is the sole beneficiary of the Queen's wealth, including her £650 million estate. On top of this, she amassed tens of millions of pounds in her own cash and assets, mainly from art and racehorses.
The monarchy certainly generates huge revenue for Britain, much more than the expenses incurred by the British society for its maintenance. Thus, monarchy is not only a status symbol, it helps the businesses of the British brands — not only within Britain but also beyond.