Here's where the royal family gets their money

Caroline Praderio

January 16, 2020 6:26 PM

REUTERS/Hannah Mckay

Every year, the Queen gets a chunk of cash from taxpayers called the Sovereign Grant.

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.

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.

Here's how the British royal family makes their fortune.

See the rest of the story at Business Insider