The Firm, also known as the Monarchy PLC, is a group of senior members and public faces of the House of Windsor, the reigning royal family that the Queen was the head of. These funds are allocated toward official travel, property maintenance, and operating or maintenance costs of the Queen’s household-Buckingham Palace.īut the Queen doesn’t just receive an annual salary. This grant amount was set to just over 86 million pounds in 20. Originally known as the Civil List, it was replaced by the Sovereign Grant in 2012.
It originates from an agreement made by King George III to surrender his income from Parliament in order to receive a fixed annual payment for himself and future generations of the royal family.
The Queen received income through a taxpayer fund known as the Sovereign Grant, which is paid annually to the British royal family. Here is a breakdown of what will happen with the Queen’s fortune now that she has died. Though that may seem straightforward, the Queen’s fortune-and what happens to it now-is complex much of what is seen to be owned by her actually belongs to the so-called Royal Firm, the $28 billion empire that members of the British royal family like King George VI and Prince Philip once referred to as “the family business.” Her Majesty leaves behind over $500 million in personal assets from her 70 years on the throne, which Prince Charles will inherit when he is crowned king.
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