Charles inherits the throne and a nice hoard

Charles inherits the throne and a nice hoard

UPDATE DAY

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 $550 million CA.

Charles inherits the throne and a nice nest egg

David McClure, author

“Most of the wealth” of Elizabeth II will go to Charles, told Agence France-Presse David McClure, author of a book on the finances of the sovereign, who died today at the age of 96 years.

“It is likely that the Queen will leave a will and small amounts” will be paid to other members of her family, Mr McClure added.

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No tax to pay

The sums left as inheritance by the one who occupied the throne for more than 70 years will not be taxed under an exception granted by London to the head of the monarchy.

The exact extent of Elizabeth II's personal fortune is unknown. In May, the British newspaper Sunday Times estimated it at 370 million pounds, or 5 million pounds more than in 2021.

Charles inherits in particular Sandringham House, a palace of Norfolk, in the east of England.

Her main assets include Balmoral Castle, Scotland, where she died, which was worth at least US$140 million in 2016, according to US magazine Forbes. Sandringham House, another property that he personally owns, is said to be worth US$65 million.

Balmoral Castle is now also his personal property.

Stamps and racing winnings

The Queen was also the owner of a prestigious collection of Commonwealth stamps established by her grandfather George V. According to David McClure, her value would reach 100 million pounds sterling (approximately 151 million Canadian dollars).

A horse at the finish of the most recent edition of the famous Epsom Derby. Between 1988 and 2022, Elizabeth II has racked up cumulative winnings of £8.7 million (CA$13.1 million) from winning bets on horse races.

A fervent fan of horse racing, Élisabeth has also accumulated £8.7 million ($13.1 million CAD) in winnings thanks to this passion since 1988, according to the betting site OLBG.

Finally, the queen held a stock market portfolio as well as a collection of works of art whose precise value is a mystery.

Note that in 2002, she had inherited her mother's fortune, estimated to at least £50 million (CA$75 million) while last year she made around £30 million (CA$45 million) when her husband Prince Philip died.

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Even before he took the throne, the new King Charles was already wealthy. 

His fortune reached 100 million US dollars (C$130 million), according to the specialized site Celebrity Net Worth.

Assets of US$28 billion

As for the wealth associated with the royal family, Forbes puts it at US$28 billion (C$37 billion). This figure mainly includes royal properties, including Buckingham Palace, valued at US$4.9 billion (C$6.4 billion). These properties, however, are not directly owned by the monarchy.

Last year, the Crown Estate, which manages most of these properties, generated profits of £313 million ($471 million THAT). Three-quarters of this sum went to the British Treasury, and the balance to the Queen.

– With AFP< /p> Got a scoop for us?

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