- The Queen doesn't get all her money from taxpayers.
- She profits from a land trust called the Duchy of Lancaster in addition to the estates and artwork she inherited from her father.
- Prince Charles paid Harry and Meghan , William and Kate , and their children a combined $6.5 million (5 million) in 2019, according to The Wall Street Journal .
- The Sunday Times estimated the Queen's net worth to be $442.92 million (340 million) in 2016, which makes her far from the richest person in Britain.
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Here's where the royal family gets their money
REUTERS/Hannah Mckay
Every year, the Queen gets a chunk of cash from taxpayers called the Sovereign Grant.
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The Queen may be financially supporting Prince Harry and Meghan Markle (for now, anyway) but she's not as rich as you might think.
Elizabeth II has a net worth of $442.92 million (340 million), derived from a grant from taxpayers and two additional income sources, The Sunday Times estimated in 2016. That's still more than the Duke and Duchess of Sussex, who have a shared fortune of $30 million, Business Insider previously reported.
Nonetheless, the young couple announced their decision to "step back as 'senior' members of the Royal Family" and work towards financial independence in a statement released on January 8.
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Here's how the British royal family makes their fortune.
See Also:
- Meghan Markle's former LA mansion is still looking for a buyer, and the asking price just dropped here's a look inside
- Roger Federer may become the first billionaire in tennis this year. Here's how he became the highest-paid player in the world.
- The most expensive watches worn by the British royal family
SEE ALSO: How Meghan Markle and Prince Harry could earn enough money to become 'financially independent' of the crown and why it likely won't include a return to the screen
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