Queen Elizabeth II passed away at the age of 96 on September 8. The Queen of the United Kingdom, Elizabeth’s tenure of 70 years and 214 days was the longest of any British monarch and the second-longest recorded of any monarch of a sovereign country. She took her last breath at Balmoral Castle in Scotland.
Elizabeth was also the Queen of 14 Commonwealth realms apart from the UK. She has left behind a mass of properties and fortune, which includes palaces and personal assets. But the question is, who is going to inherit all her fortune after her death? Let’s try and find out its answer.
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Who Will Inherit The Fortune Of Queen Elizabeth II?
The longest-serving queen passed away at the age of 96 on 8 September 2022 at Balmoral Castle, Aberdeenshire, Scotland. Since then people have been curious about who will inherit her fortune.
Her Majesty has left more than $500 million in personal assets from her 70 years reign on the throne. Prince Charles will be inheriting her properties when he is crowned king.
A large chunk of Elizabeth’s fortune belongs to the Royal Firm which is also known as the Monarchy PLC. It is a group of senior members and public figures of the House of Windsor, the reigning royal family.
The firm operates a business empire and earns through televised events, tourism, and renting palaces. As of 2021, the monarchy controls around $28 billion in real estate assets that cannot be sold. Prince Charles will not directly inherit the $28 billion and will get Queen’s personal assets designated to him.
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Queen’s Personal Assets
Queen Elizabeth had accumulated nearly $500 million in her 70-year reign on the throne. Most of it is attributed to real estate investments, art, jewelry, and properties like the Sandringham House and the Balmoral Castle.
She also got almost $70 million worth of fortune from The Queen Mother when she died in 2002. The fortune includes investments in jewels, horses, fine china, and stamp collection.
The Monarchy is exempted from paying 40 percent of the inheritance tax. It was agreed with the former British Prime Minister John Major in 1993 in order to avoid erosion of the royal family’s wealth.
The clause will apply to what Prince Charles receives. It will be interesting to see how the royal family’s fortune unfolds after the passing of queen.
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