(MENAFN- Live Mint) The British Royals are often in the news for some controversy. Though they dedicate their lives to public service, they do earn money from various dedicated sources.
According to the BBC, the monarch's main source of income arrives from a taxpayer-funded settlement known as the Sovereign Grant, which is paid annually.
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The Sovereign Grant for 2022-23 was worth 86.3 million English pounds, the same amount as was granted in 2021-2022.
The Sovereign Grant is divided not only into allowances to the royals but also on property upkeep and staff costs.
According to a report by US Weekly Magazine citing the National Audit Office , the royal family conducts over 2,500 events per year, estimated to cost a total of 369 million British pounds, and all the expenses are done with the Sovereign Grant.
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Apart from personal expenses, King Charles III also received an allowance called a Privy Purse, which comes from the Duchy of Lancaster. Passed down from monarch to monarch, the Duchy of Lancaster holds properties worth an estimated 654 million pounds and generate about 20 million pounds, reported the BBC.
Here's how much Royals earn:
King Charles and Queen Camilla: According to US Weekly, King Charles has around $750 million and reportedly makes $25 million a year as King of England.
The Prince and Princess of Wales: Prince William and his wife Kate Middleton – Duke and Duchess of Cornwall, receive income from the Duchy of Cornwall estate. In 2023, William took home $30.4 million.
The Duke and Duchess of Sussex: Prince Harry and his wife Meghan Markle -the Duke and Duchess of Sussex-receive most of their paychecks from Elizabeth via the Duchy of Lancaster. They stepped out of the royal family in 2020 and no longer receive funding from it.
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Princess Anne: According to US Weekly, King Charles' sister earned roughly $21.1 million since she joined the payroll in 1971.
The Duke and Duchess of Edinburgh: Prince Edward, the youngest child of the late Queen Elizabeth and Prince Philip, and his wife Sophie have earned 6.5 million pounds since 1982, reported The Guardian.
Prince Andrew: Prior to stepping away from his official duties in 2019, the BBC reported that Prince Andrew made about 250,000 pounds per year.
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