Yesterday, Buckingham Palace released a statement on Queen Elizabeth’s health stating that she was being kept under medical supervision. Following reports, the Queen’s family members including Charles, Camilla and Prince William all arrived at Balmoral Castle in Scotland where the Queen was staying at that time. Queen Elizabeth II passed away at the age of 96 8th September 2022.

Moments after the UK Royal Family announced that Queen Elizabeth II had died, the Buckingham Palace, released an official statement. In the statement, Buckingham Palace stated that their Queen had passed away peacefully in the afternoon. Buckingham Palace statement said: ‘The Queen died peacefully at Balmoral this afternoon. The King and The Queen Consort will remain at Balmoral this evening and will return to London tomorrow.’

Queen Elizabeth II was the second-longest reigning monarch in history. The UK Queen ruled the U.K. for more than 70 years after her ascension to the throne on February 6, 1952. Queen Elizabeth reigned over a country that rebuilt from war and lost its empire, joined the European Union and then left it and moved from an industrial powerhouse to an uncertain 21st-century society. She worked with 15 Prime Ministers, from Winston Churchill to the new PM, Liz Truss.

Queen Elizabeth II left behind a collection of valuable jewels, vast estates and wealth. Through the crown, she controlled almost $28 Billion in assets, much of this belonging to the so-called Royal Firm- ‘Monarchy PLC’. The British monarchs are not required to reveal their private finances but the late Queen’s net worth has been estimated between $500 million to $ 600 million. This is not enough to be on The Sunday Times 202 “Rich List of the UK’s top 250 wealthy people.

The Sovereign Grant, an annual taxpayer payment to the British royal family paid consistent revenue to the Queen. The Queen received 25% of the $28 billion yearly income of the Crown Estate (a collection of royal properties) while the British Treasury got the remaining 75%. In 2020-21, this 25% paid to the queen was worth over 86 million pounds. These funds are designated for official travel, property upkeep, operational costs and maintenance expenses of Buckingham Palace, the Queen’s home.

Apart from this, the Queen also financially benefitted from the Privy Purse, a portfolio of properties and assets paid to her from the Duchy of Lancaster. This funding is taxed and is generally used for expenses that are not covered by the Sovereign Grant. Queen Elizabeth had over $500 million in personal assets including her investments, art collections, controversial valuable jewels, real estate holdings like Sandringham House and Balmoral Castle among others which will now be passed down to Prince Charles when he ascends to the Throne.

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