mentre halls waiting for the coronation ceremony of King Charles IIIset for May 6th, many are talking about the economic conditions of the queen’s favorite son: the Prince Andrew.
The legacy of the late Queen Elizabeth? 430 million
The British royal family has accustomed us, all these years, to big lights. But also in deep shadows. There is a great deal of chatter regarding the question of the distribution of the legacy left by the late Queen Elizabeth.
Since the day of his death (which occurred last September 8 in Balmoral Castle) many have tried to estimate the wealth of the sovereign. His Majesty apparently left his first son and the rest of the family a personal fortune which is estimated at around £430 million (about 490 million euros). To these, second Forbesshould be added another $28 billion including real estate.
King Charles of England, together with his late mother, Queen Elizabeth, on 1 October 2021 in Scotland. Credit: Andrew Milligan-WPA Pool/Getty Images
The management of the finances of the Crown belongs entirely to King Charles III
King Charles III is now the heir by right of management of the Sovereign Grant. This is a fund paid each year by taxpayers to the British royal family. A practice that dates back to 1760 and that in 2012, through the Sovereign Grant Acthas found a new definition.
Thanks to this public subsidy, whoever ascends the throne has all the economic means to be able to carry out his duties and cover the costs of official events. This subsidy represents approx 25% of the Crown Estatei.e. the financial portfolio owned by the Crown (it is valued at around £8.1 billion).
Another figure that can make us understand what we are talking about: in 2020 Queen Elizabeth had received from Sovereign Grant approximately £85.9 million.
No inheritance: his brother Andrea, involved in the Epstein scandal, is desperate
As already mentioned, now the heir to the management of Sovereign Grant is King Charles III. This is thanks to a law regarding inheritance taxes. More precisely to the one approved in 1993 by the Major government according to which they are not paid if all the capital is inherited by a single relative. Thus, all inheritance is under the management of the same ruler. which, apparently, he would have no intention of sharing it with his brother Andrea.
Prince Andrew, in fact, has been excluded from public engagements for his involvement in the Epstein scandal. Accused of sexual assault, he was sentenced to pay 12 million pounds to the victim, Virginia Giuffre Roberts. As a result, she has lost her royal appanage, military ranks, her personal office at Buckingham Palace and her home at Royal Ledge.
Some rumors tell of a Prince Andrew desperate. And ready to sell his truth about the British royal family to television and newspapers, at the cost of being able to compensate those 12 million pounds. At the moment, in fact, the then Duke of York would be living on the pension of the Navy.
Meanwhile, just weeks away from the coronation of King Charles III, Buckingham Palace is preparing to face the new revelations of the accuser of Prince Andrew in the Epstein scandal. Virginia Giuffre, in fact, would be about to publish a book with the story of what happened. And it seems he chose the days of the King’s coronation to be released in bookstores around the world…
Edward, however, younger brother of King Charles III, became Duke of Edinburgh
Last March 10th King Charles III made his younger brother Edward Duke of Edinburgh. The conferment of the title – which previously belonged to the father, the Prince Philipwho passed away on April 9, 2021 – arrived on the 59th birthday of the fourth and youngest child of Queen Elizabeth II of the United Kingdom.
With this bestowal, his wife Sophie will now be known as the Duchess of Edinburghwhile their son James (fifteen) will become Earl of Wessex.
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