Royal Family News
Meg Blows Up at Hazz’s Queen Final Move Strike Meg Name Off Her Last Will $657,000,000 Fortune
The world was in shock when news broke of the passing of Queen Elizabeth II last week at the age of 96.
The monarch, who did not earn a traditional salary, was estimated by Forbes to be personally worth around $657,000,000 Canadian dollars.
Her sources of income included the Crown Estate, private estate, a stock portfolio, and personal assets.
The Crown Estate's property includes Buckingham Palace, Windsor Castle, and Holyrood Palace, while her personal assets include her valuable stamp collection, several works of art, jewelry, and horses.
An international project called the Panama Papers revealed in 2017 that $17 million of her money was invested in offshore portfolios in the Cayman Islands and Bermuda.
Approximately 15% of the Crown Estate's earnings are paid to the reigning monarch as an annual Sovereign Grant, which is determined by the UK government and is subject to change.
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In 2017, the Queen received 25% for the next 10 years to help fund the refurbishment of Buckingham Palace.
The grant was used to pay for her royal duties, including official engagements, and the payroll of her staff.
The Sovereign Grant for 2021-2022 was set by the UK government at almost $131 million – equivalent to almost $2 per person in the UK according to the Royal Family's financial reports.
The UK government's treasury is also required by law to top up the grant if Crown Estate profits fall in order to prevent a decline in targets.
This took place in 2020.
As the next monarch, King Charles III will also receive this grant.
The Queen's private property, inherited from her father, includes Balmoral Castle in Scotland and Sandringham in the UK.
Like all other members of the Royal Family, the Queen had a will to determine who will inherit her resources.
While royal wills are not disclosed to the public, the Queen's heir, King Charles, will inherit Balmoral Castle and Sandringham House.
The Crown Estate's property, including Buckingham Palace, Windsor Castle, Holyrood Palace, and a variety of other items including the Crown Jewels, an art collection, and archives, will also remain the property of the reigning King Charles.
It is still unclear who will receive the Queen's private assets, including her stock portfolio and other investments.
While there is a 40% inheritance tax in the UK, King Charles will not pay tax on the fortune inherited from his mother due to a government memorandum applying to sovereigns for assets valued above $493,553.
Presently, Fortune magazine estimates King Charles III's worth to be around $578 million, while Forbes estimates his real estate holdings to be worth roughly $1.8 billion.
In other news, Prince Harry is being put on blast for letting his grudge against the royal family risk his reputation alongside that of his publishers and the Queen.
Inside sources from The Telegraph brought these revelations to light.
The same insider also pointed out an existing fear surrounding accuracy and potential defamation in Prince Harry's memoir.
They explained, “These publishers are too not the types to publish and be damned.
They have reputations to protect.”
At the end of the day, for any publisher, the biggest potential issue is not defamation but truth, accuracy.
This revelation comes after Prince Harry was accused of harboring grudges against the firm.
Royal expert Angela Levin brought it all forward and admitted at the time, “he's now so bitter and resentful that he will say what he really feels and see things that he accepted years ago as now being really dreadful.”
However, amidst all this news, it has come to light that Meg, the wife of Prince Harry, has been struck off the late Queen's will.
According to sources, Meg was furious with the Queen's final move and has blown up at Hazz, her husband.
The couple's relationship is reportedly on the rocks because of this decision.
It is still unclear why Meg was removed from the Queen's will, but it is believed to be due to her behavior since joining the royal family.
This news has shocked the world and has caused a rift between the couple and the royal family.
In conclusion, the passing of Queen Elizabeth II has left many questions about the future of the monarchy.
With King Charles III set to inherit the throne and all the assets that come with it, the world waits in anticipation to see what the future holds.