What will happen to Queen Elizabeth's $600 million fortune?

The late Queen Elizabeth was an incredibly powerful and influential figure throughout her reign, which makes it no surprise to learn she had an equally impressive fortune. Now that she has passed, what will happen to those funds?

Read on to find out.

How much was Queen Elizabeth's net worth?

The Queen's full net worth, which is estimated to be around $600 million, comes from her share of the Duchy of Lancaster, which was inherited by her father before he became king. The Queen also owns Balmoral Castle in Scotland and Sandringham House in Norfolk, as well as a few other minor properties scattered across England.

Her income comes primarily from the Sovereign Grant—an annual payment given to her by Parliament that serves as a sort of salary for reigning monarchs—which she receives regardless of how much money she has in her personal bank account. In 2022, the grant was reported to be £93.9 million (or about $99.6 million).

What is the net worth of the Crown Estate?

The Crown Estate is a portfolio of properties, mostly in London and the South East, which are owned by the monarchy. It has been estimated that it is worth about £14.1 billion (around $14.9 billion).

The Crown Estate is run by an independent board of trustees who manage its assets. As such, the sovereign cannot intervene in how these assets are managed or disposed of— but receives an annual payment known as "the Civil List" to cover official expenses such as travel costs (though this was reduced after reforms introduced under Tony Blair's government).

Who will inherit the Queen's fortune?

The Queen's firstborn son, Prince Charles, is expected to be the next head of state. When he succeeds his mother and becomes king, he will inherit her assets and investments.

Prince William has also been selected to succeed his mother on the throne, but only after Charles' death or abdication (which seems unlikely). In the meantime, he'll be waiting in line for his own fortune.

Does the Royal Family pay inheritance tax?

You may be wondering how the royal family is able to pass on their wealth without paying inheritance tax—so are we! But the simple answer is that they don't have to because of a loophole in British law.

The monarch and her family are exempt from paying inheritance tax when they pass on any assets or property—which means there's no limit on how much money they can leave behind for their heirs without having to pay any taxes on it.

The only exception is capital gains tax, which applies when someone sells an asset at a profit; this applies equally whether you're a member of the royal family or not.

Conclusion

The British royal family has a lot of money—enough to own castles, palaces, and estates all over the United Kingdom. However, these funds aren't always easy to manage, as we can see now. Regardless, Queen Elizabeth's fortunate is next in line to be dispersed and cause a few changes in the process.