Many wonder where the Queen’s wealth comes from (Picture: Sion Touhig via Getty Images)

Queen Elizabeth II’s Platinum Jubilee celebrations have kicked off, with parades, palace parties, and other extravagant events taking place over the four-day weekend.

And, while many are excited to celebrate the longest-reigning monarch’s services to the country, others are questioning the timing as Britain faces a cost of living crisis.

While the Her Majesty’s wealth amounts to significantly more than that of the average Briton, she falls far behind many of Britain’s wealthiest people.

Here’s everything you need to know about how the royal is funded and her net worth.

How does the Queen make her money?

The Queen doesn’t work a nine-to-five, rather Her Majesty makes her money from three combined sources: The privy purse, the sovereign grant, and personal income and inheritances.

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The sovereign grant, provided by the Treasury, is a single annual payment paid to the royals. It has been in place since 2012 and is based on the profits of the Crown Estate – a property business that is independently run but owned by the Queen.

The Queen receives the sovereign grant for carrying out official duties and for the upkeep of ‘occupied’ royal palaces. These include Windsor Castle and Buckingham Palace.

These palaces are not private property and will be passed down to those in-line for the throne so they can never be sold by Her Majesty.

The Royal Family website announced that the 2020 to 2021 expenditure came to £85.9 million (£1.29 per person in the UK).

It stated: ‘Official expenditure was more than the Sovereign Grant and the supplementary income earned, with total net expenditure of £87.5 million, a 26% increase on the previous year.

‘This was driven by significant increase in spending, £17.6m (an increase of 83%), on the Reservicing of Buckingham Palace.’

When the royal expenditure cannot be covered by the sovereign grant, the Queen can then turn to the privy purse.

The sovereign grant is also used to pay for the upkeep of occupied royal palaces including Buckingham Palace (Picture: Peter Macdiarmid via Getty Images)

This is the sum of the net profits made by the Duchy of Lancaster estate, another private estate that spans over 18,000 hectares of land as well as property and other assets.

Its profits for the year ending March 2021 totalled over £22 million, but according to the Palace, the Queen pays tax on this income.

She is also reported to pay tax on her personal wealth and inheritance including on that of her own properties.

She inherited both Sandringham Estate and Balmoral Castle from her father. Meanwhile, The Queen Mother left Queen Elizabeth II an estimated £70 million upon her passing in 2002.

She also inherited her late husband Prince Phillip’s estate, which is estimated to be worth £10 million, following his death in April 2021.

The Queen inherited Sandringham Estate from her father (Picture: Radcliffe/Bauer-Griffin/GC Images via Getty Images)

The Sunday Times also states: ‘The Queen, 95, owns Sandringham House and Balmoral Castle, and there is also an investment portfolio, mostly in British blue chip shares, which will have risen strongly off the back of the 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 Queen’s net worth?

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, though does not lack wealth, with the Sunday Times Rich List estimating her personal net worth to be £365 million – including the sovereign grant income.

Comparatively, Sri and Gopi Hinduja and family top the Sunday Times Rich List with a staggering worth of £28.47 billion.

Sir James Dyson and family take the second spot with an estimated worth of £23 billion.

Her spot on the Sunday Times Rich List is unknown as she did not fall within the top 250 entries.

MORE : How many children does The Queen have and who are they?

MORE : Queen’s Platinum Jubilee events guide: What’s going on in London over the bank holiday weekend?

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