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You may surprised to learn that it costs roughly £270m a year to run the royal family. They live a lavish lifestyle that doesn’t come cheap and are held up to a certain high standard meaning they have to live a certain way. Many of us don’t realise what it takes to run a monarchy, the staff alone costs a small fortune. So where does all that money come from? The family isn’t just independently wealthy and they get their money from many different sources, some of them you probably wouldn’t expect.
1. The Queen’s sovereign grant.
The Queen receives a grant each year funded by the taxpayers. Last year, the Queen received £82.2 million (£1.25 per taxpayer). This covers the palace upkeep, travel and employee payroll. In return she gives 15% of the Crown Estates’s profits each year.
2. The Queen’s privy purse.
She also has a private income called the privy purse. This is a portfolio that includes 45,600 acres of land owned which includes residential business, commercial and agricultural dealings. This brought in £20 million in 2017 and the assets are apparently now worth more than half a billion pounds.