Wealth Queen Elizabeth II
Finances of Queen Elizabeth II
The Queen's personal fortune has been the subject of speculation for many years. Sometimes estimated at US$10 billion, recently Forbes magazine conservatively estimated her fortune at around US$500 million (£280 million).[25] This figure seems to agree with official Palace statements that called reports of the Queen's supposed multibillion-dollar wealth "grossly over-exaggerated;" however, it conflicts with a total addition of the Queen's personal holdings. Her personal art collection is worth at least £10 billion, but is held in trust for the nation, and cannot be sold.[citation needed]
The Queen also owns large amounts of property privately that have never been valued, including Sandringham House, Balmoral Castle — reputedly worth £160 million — and the Castle of Mey. Press reports upon the death of the Queen Mother, the previous owner of the Castle of Mey, speculated that by the Queen's inheritance, £28 million of death duties were avoided on an estate worth £70 million.[26] Furthermore there is control and ownership of the Duchy of Lancaster, which is valued at £310 million and transferred a private income to the Monarch of £9.811 million in 2006.
The Queen also technically owns the Crown Estate with holdings of £6 billion; however, the income of this is transferred to the Treasury in return for the civil list payments, and the legal effects of the Monarch reclaiming it and giving up civil list payments in exchange are unknown.
The Queen is the first royal to agree to pay income tax. She agreed to pay income tax in 1992
View: Biography of Queen Elizabeth II
Queen Elizabeth II
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Queen Elizabeth timeline at BBC