Prince Harry and Meghan Markle’s explosive interview with Oprah Winfrey has raised a lot of questions on the inner workings of Britain’s royal family. Among them there is frequent mention of the main firm. In the interview, Meghan revealed that she was suicidal at one point and contacted the firm to ask for help. He was reportedly refused. Prince Harry approached the firm with the same request for his wife and was told that he would allegedly not get any help as it would not reflect well on the royal family. Markle said one more thing that the firm has a big role in exposing false rumors and outside lies about Meghan and Harry. The firm controls $ 28 billion in royal assets and, apparently, every aspect of the family’s life. How does that work exactly?
The firm dates back to 85 years ago when Edward VIII left the throne in 1936 to marry American socialite and twice-divorced Wallis Simpson. Officially, the firm refers to senior members of the monarchy and public faces. It started as a nickname and it stuck. The firm is a global business venture with assets worth $ 28 billion ranging from real estate in London to farmland in Scotland. The firm is an elite group composed of seven royalty houses: Prince Charles, his wife Camilla, Prince William, his wife Kate Middleton, Princess Anne, and Prince Edward and his wife Sophie. Queen Elizabeth the Firm’s Day is in fact Chairwoman. The members of The Firm not only manage the property, but they also maintain control over the personal royals’ reputation – which, while evaluating Meghan and Harry’s statements, is important to remember that the firm owes him for his suicide attempts. Won’t help you.
Queen Elizabeth received the throne from her father in 1952 and has since been the head of the firm. In addition to the expanded Royal Family, the House of Windsor has thousands of employees worldwide. Buckingham Palace alone has about 1,200 employees. The Crown Estate, the unit that oversees the monarchy’s estate, has 450 employees. The board of directors of the Crown Estate makes financial decisions for the monarchy. Members of the firm have high expectations on them to keep the House of Windsor moneymaking machine alive for generations to come. The firm maintains, but is selling $ 19.5 billion Crown Estate, $ 4.9 billion Buckingham Palace, Cornwell’s $ 1.3 billion Duchy, Lancaster’s $ 748 million Duchy, $ 630 million Kensington Palace and $ 592 through $ 28 billion in assets is. Million Crown Estate of Scotland.
For the fiscal year ended March 31, 2020, the Crown Estate made a net profit of $ 700 million plus $ 475 million. The royal family receives 25% of the Crown Estate’s income, also known as sovereign grants. The British Treasury gets another 75%. The recently created Sovereign Grant for the Royalty was $ 120 million used for official expenses, including payroll, travel, security, housekeeping, maintenance, and IT expenses. One of the Queen’s personal expenses, as well as one of her extended family, are covered by an allowance called Privy Purse, which comes from the Duchy of Lancaster.
The 72-year-old Prince Charles has the second largest operation in the royal family. His official title of Duke of Cornwall provides income from the Dochi of Cornwell, which he derives from sovereign grants. Edward III founded the Duchy of Cornwell in 14Th Hundreds of salutes to his first son for holding cash as he waited to ascend the throne. Today, the Duchy has a staff of 150 and manages over 130,000 acres of property in southwest England for $ 1.3 billion. Prince Charles has no right to sell property belonging to the duchy, but he can make money from them by renting the property to farmers, residents and retail establishments. Dover of Cornwall is more attractive to Charles than Sovereign Grant. Last year he received less than $ 2.5 million from Sovereign Grant. A substantial portion of Charles’s income also supports his sons Prince William and Prince Harry. He received a combined $ 7.8 million last year. However, in an Oprah interview, Harry stated that he is not receiving money from his father or the Crown Estate, but rather is living on the money left by his late mother, Princess Diana.
Prince William is third in line to the throne. He and Kate Middleton are the assets of the royal family, their popularity having the power to boost sales of the brands, adding more than $ 165 million to the UK economy annually. William receives an annual income from the Duchy of Cornwall to pay his family’s personal expenses. For the fiscal year ending March 2020, William received a share of about $ 8 million that he had to share with Harry before he and Meghan announced they were stepping back from their royal duties. William also has his share and has Harry from Harry and Princess Diana, estimated at $ 10 million each.
Prince Harry admitted that he was cut off financially from the royal family. His wife, Meghan Markle, has her own acting career destined for her, so with that money and Princess Diana leaving him, Harry and Meghan are doing fine with a combined net worth of $ 50 million. He bought a $ 14.7 million mansion in Santa Barbara. The pair have made several lucrative deals. They have somewhere between $ 15 million and $ 18 million in a three-year deal through Podcast with Archive Audio called Spotify. Harry is producing an Apple TV + series on mental health with Oprah Winfrey. Harry and Meghan have signed a five-year, $ 100 million deal with Netflix to produce documentaries, documentaries, feature films, children’s programming, and scripted shows. When it moves away from the royal family and comes right down to it, Harry and Meghan have opened up ways to earn more money as private citizens.