Queen’s staggering net worth and where the money is coming from as she ‘helps fund Andrew’s legal fight’

After it was reported that the Queen would help Prince Andrew pay his settlement in the sex abuse case brought against him, we take a look at his finances and how she amassed his wealth

Prince Andrew has reached an out-of-court settlement with his accuser Virginia Giuffre after filing a civil complaint against him in the United States.

The Duke of York will now pay a sum, believed to be around £12million, in order to settle the legal action. He has always denied the allegations made against him.

Now it has been claimed that Andrew’s mother, the Queen, will help her son with the costs.

The telegraph reports that some of the agreed-upon money will come from his mother, with a source saying: “The walls were closing in quickly. After his deposition, he would likely have been so damaged that no one could save him or agree to fund his settlement. ”

So how much money does the queen have and how vast is her personal wealth? Here we take a look…

The Queen’s Net Worth

According to Sunday Times Rich List 2021the Queen has a net worth of £365million.

That’s £15million more than the Sunday Times estimated his net worth in 2020.

In 2017, The Sunday Times also calculated the value of the entire Royal Family – which they put at $88billion, or around £71billion.

However, working out the Queen’s finances is far from straightforward, as there are many restrictions and technicalities on some of the things she has in her name.

Queen’s Silver Pots

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The Queen pays for her daily life using three separate pots of money – the Sovereign Grant, the Private Purse and her personal money.

The Sovereign Grant is the money the Government gives to the Queen each year to support her work and is made up of taxpayers’ money.

The private purse is the money generated by the Duchy of Lancaster – a portfolio of land, property and other assets of around 18,000 hectares in England and Wales.

It has existed since 1399 to provide income for the sovereign – also known as the Duke of Lancaster.

But the Queen can’t do what she wants with the Duchy – it’s run and run for her – but she gets all the net profit, millions of pounds every year.

This is generally considered his private income – although some Republicans argue that it is money that would go to the treasury if we had no monarchy (no sovereign = no duchy) and should therefore be considered as public funds.

The Queen voluntarily pays income tax.

She uses the money to pay for private and official expenses – including meeting expenses for royals such as Andrew, Prince Edward and Princess Anne. She also uses it for the upkeep of Balmoral Castle.

According to a royal expert, if the Queen helped Andrew with the settlement, it would ‘more than likely come from the Duchy of Lancaster, which is described as the Queen’s private estate’.

Royal finance expert David McClure, author of Royal Privilege: The Queen’s True Worth, said the source of any settlement funds for Andrew is “of considerable public interest”, and called on the Royal Family to “be honest and say where the money is coming from”. .

He said: “I would just say that given the huge public interest, given that Prince Andrew is a public figure, he was in line with the throne, I really think they should disclose the amount of money and where it comes from.

Adding that he is ‘not optimistic’ that the information will be made public, Mr McClure said: ‘I wouldn’t be surprised if they tried not to say anything because there is a long history of secrecy to be seen. with everything related to royal finances, but given that this is a public matter, given that there is so much public interest in the matter, I really think for once the family royal should tell the truth and say where the money is coming from.

Other Queen Assets

Many things Her Majesty owns, She owns as Sovereign on behalf of the nation rather than owning them personally.

For example, while she personally owns the Balmoral and Sandringham estates after inheriting them from her father, the official royal residences – including Buckingham Palace – must pass to her successor.

This means that Prince Charles will automatically own them, but again only as sovereign, upon the Queen’s death.

The same rules apply to many of the art treasures in the Royal Collection and, most famously, the Crown Jewels.

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