And, while many are excited to celebrate the services of the longest-reigning monarch to the country, others are questioning the timing as Britain faces a cost of living crisis.
While Her Majesty’s wealth is significantly higher than that of the average Briton, she is far behind many of Britain’s wealthiest people.
Here’s what you need to know about how the royal is funded and what her net worth is.
How does the queen earn her money?
Her Majesty does not work from nine to five, but Her Majesty makes money from three combined sources: the Privy Purse, Sovereign Grant, and personal income and inheritance.
The sovereign grant, provided by the treasury, is a single annual payment paid to the royals. It has been in force since 2012 and is based on profits from the Crown Estate – a property business that is run independently but owned by the Queen.
The Queen receives sovereign grants for carrying out official duties and for the maintenance of ‘occupied’ royal palaces. These include Windsor Castle and Buckingham Palace.
These palaces are not private property and will be handed over to those in line for the throne so that they can never be sold by Her Majesty.
royal family website announced that spending from 2020 to 2021 has risen to £85.9 million (£1.29 per person in the UK).
It said: ‘Official expenditure exceeded sovereign grants and accrued supplementary income, with total net expenditure of £87.5 million, an increase of 26% over the previous year.
‘This was driven by a significant increase in spending on the Buckingham Palace reservation, £17.6m (an increase of 83%).’
When royal expenses cannot be covered by a sovereign grant, the Queen may turn to the Privy Purse.
It is the sum of the net profits made by the Duchy of Lancaster Estate, another private estate spread over 18,000 hectares of land, as well as estates and other properties.
Its profit was more than £22 million for the year ending March 2021, but the Queen pays taxes on this income, according to the Palace.
He is also reported to have paid tax on his personal property and inheritance, including his own property.
After his death in April 2021, she also inherited the estate of her late husband Prince Philip, which is worth £10 million.
Sunday Times too states: ‘The Queen, 95, owns Sandringham House and Balmoral Castle, and also has an investment portfolio, mostly in British blue chip stocks, which would have grown strongly on the back of a rising stock market in recent months.’
And, the Queen is also a keen stamp collector, which has certainly paid off with a collection value of around £100 million.
What is the net worth of the queen?
Despite Queen Elizabeth II being the ruler of the United Kingdom, she is not the richest person in the country.
In fact, she is far from it, although she is not short of money, her personal net worth as per the Sunday Times Rich List. £365 million – Including sovereign grant proceeds.
By comparison, Shree and Gopi Hinduja and family top the Sunday Times Rich List, worth £28.47 billion.
Sir James Dyson and family are in second place with an estimated net worth of £23 billion.
Her place on the Sunday Times Rich List is unknown as she did not figure in the top 250 entries.
MORE: How many children does the Queen have and who are they?
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