Posted on 09/09/2022 11:56:42 PM PDT by Jonty30
King Charles will receive a massive inheritance after his mother’s death – but it may not be as large as many people think.
The British monarchy has assets estimated at roughly US$27-billion, largely in real estate, including a number of castles and palaces. The King, like his mother Queen Elizabeth before him, and his successors after, receive income from many of the assets. They do not, however, have personal, legal ownership of those assets, so they are unable to sell them.
(Excerpt) Read more at theglobeandmail.com ...
Are they really only going to be worth $500 million, or just a few billion collectively?
To be clear, this is not a criticism. It just seems to me that the Queen’s net worth is a low ball number by a lot.
“King Charles” is as easy on the ears as “President Biden”. I could barely stand him as prince. Can they still say “off with your head” if I were to call him an inbred dunce?
Seems to closely fit with what has been reported in the past.
“According to Forbes, the crown, through the the Firm (which actually goes by “Monarchy PLC”), holds nearly $28 billion in assets.”
https://www.cosmopolitan.com/entertainment/celebs/a38266323/queen-elizabeth-ii-net-worth/
I know most of the palaces and lands aren’t really theirs and the crown jewels don’t belong to them either.
I could be wrong, but such a relatively low figure for a family that has been ruling a kingdom for 80 years or more almost makes it seem that their finances aren’t well managed at all.
I think a typical family, after 80 years, could do better than that.
Oh, agreed, I would have thought the accumulation would have been far greater, for sure. We are talking old old old money here. But who knows unless one is actual part of the immediate family (talking children - sons and daughters, not nephews, etc.)? Dunno.
I meant 800 years, not 80 years.
I admit that there could be things that we aren’t aware of, like how wealthy they were when they gave up their palaces and lands to the government or perhaps they lost nearly everything in WWII.
Lots can happen, I suppose.
true, not as much as people imagine, but there’s always more to come:
9 Feb 2021: Daily Mail: The Queen’s windfarm windfall: Crown Estate sells off lucrative rights to offshore windfarms that could earn it and Treasury nearly £9billion in a decade
Crown Estate has sold off rights to a number of seabeds for renewable energy
BP has leased two areas, in the Irish Sea, which could power 3.4million homes
Move will help Government reach targets on renewable energy from wind power
Crown Estate is firm behind Queen’s public portfolio and profits go to Treasury
By JAMES ROBINSON
The Queen’s Crown Estate has sold off its lucrative rights to offshore wind farms in a move that could net the company - and subsequently the Treasury - nearly £9billion in a decade.
The Crown Estate, which manages the Queen’s public property and land before handing profits back to the public purse, said it had auctioned off eight gigawatts of potential new offshore wind capacity.
Bosses of the business say the move will help the UK meet its demand for renewable electricity.
Oil giant BP is among the businesses to win the rights to build new wind farms.
The Crown Estate owns the seabed off the coast of the UK and so is a vital part of freeing up land for offshore wind projects...
https://www.dailymail.co.uk/news/article-9236425/Queens-Crown-Estate-sells-lucrative-rights-offshore-wind-farms.html
9 Feb 2021: Daily Express: Queen’s huge windfall as green energy firms pay £9bn wind farms
THE Queen is in line for a windfall after energy firms agreed to pay up to £8.79billion to use several of the Crown Estate’s seabed plots for new offshore wind farms.
By RICHARD PALMER
The estate - which is linked to how much money the Royal Family gets each year - has sold sites in six areas off England and Wales to energy companies...Firms, including BP in partnership with the German utility company EnBW, have agreed to pay £879million a year for the right to the plots until they are fully operational in three to 10 years’ time...
It means that the Queen’s annual income from the taxpayer could rise from £85.9million to £220million because the Sovereign Grant, which funds the official activities of the monarch and her family, is calculated on the profits of the Crown Estate.
The estate is an independent property company that manages the seabed around England, Wales and Northern Ireland, much of the foreshore and valuable commercial property including parts of London’s West End.
Currently, the Queen receives a sum equal to 25 percent of estate profits...
But palace officials cautioned that the Royal Household was unlikely to see any benefits from the new wind-farm licences before 2025-26...
https://www.express.co.uk/news/royal/1395295/Queen-news-wind-farms-green-energy-crown-estate
The accounting stated in the article is deceptive in that the monarch has an incentive to seem relatively poor for the public while providing large gifts and stashing money away in accounts and trusts for members of royal family. Yet relatively modest royal wealth seems plausible in light of how the royals so often get caught up in dodgy money-grubbing schemes and dodgy relationships with seedy rich types.
Boy, just imagine how he's now going to be inundated with e-mails from Nigerian scammers, telephone calls from old drinking buddies with a "great business proposal!," noisy neighbors who are going to be coming by to "remind" him of that one china tea set or vintage porcelain commemorative dish which his mother had always "promised" them!
This guy's not going to get any rest for the next year!
Regards,
I agree with you that the low numbers being put out are for public consumption and may not represent the true number, if you could financially audit them in completion for their entire history.
Opulent real estate is a money drag.
It costs tons of money to maintain and it is hard to unload. Especially King’s estates cannot be sold so they are money loosing proposition.
Even if you charge entrance to tourists.
The monarchy went bankrupt in the late 1700s and signed over the earnings of the crown estates in return for a regular privy purse
Disagree.
The crown is happy it is solvent.
British taxpayers are paying dearly for the crown.
You travel Europe, it is covered by caste ruins.
Many kings went bankrupt! So are many noblemen, dukes, barons etc.
There are huge expenses and little comparable income.
It is hard to maintain high life!
Live: The Accession Council meets to formally proclaim King Charles III monarch
That would certainly help explain it, because a modest investment schedule over 800 years is going to do better than these numbers being put out.
They just get the income from this RE to the extent it is income-producing.
The finances of the British monarchy work like the Mafia’s Las Vegas casinos did back in the day. On the books, the assets are valuable and always do well, but the real money was in the unreported skim or, with the monarchy, in the steady accumulations of reported and unreported income — and how much that is and where it all goes, no one one on the outside ever fully gets to know.
Those assets which aren’t technically theirs are still exclusively used by the royal family for life and are passed on to the next monarch and family so in practical terms they are. Not much will happen at or to Buckingham Palace without the approval of King Chuck.
Piker....
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