The British royal family has an enviable real estate portfolio of castles and estates, investments, a priceless collection of Crown jewels and fine art, and other “treasures” owned by the Royal Collection that factor into their approximate $28 billion net worth. With King Charles helming the monarchy with a $772 million private fortune, the Windsors’ wealth has only grown–in large part due to the millions of pounds that come in each year through the Crown Estate and the tax-exempt Duchies. However, the royal family is set to get significantly wealthier in the new year, with a large pay increase that will be funded by the British public.
The Sovereign Grant is funded annually by the British public for the upkeep of royal residences as well as expenses tied to official travel, personal security, staffing, and engagements for working royals like Kate Middleton, Prince William, Princess Anne, Duchess Sophie, and Prince Edward–and it’s set for a significant 53% increase this year.
Come April, the amount the public pays will jump from 2024’s Sovereign Grant of £45 million to £132 million, or about $162.5 million dollars.
While the Sovereign Grant’s higher cost in 2025 has already sparked some pushback due to the “scandalous” increase, royal expert Richard Fitzwilliams told Express that this amount will pay for day-to-day operations as opposed to leisure costs and other private expenses. “Technically, King Charles, as the sovereign, is the one who gets the money, but obviously it’s everything but a private spending account,” he explained,
So, why does it cost so much to fund the royal family? King Charles’s “slimmed-down monarchy” might cut some expenses, as this amount doesn’t pay for security and other expenses for non-working royals like Prince Harry, Meghan Markle, Princess Eugenie, and Princess Beatrice. However, the royals’ ancient residences require significant funds for upkeep. According to Town & Country, the British royal family said that much of this year’s Sovereign Grant will go towards the £369 million Buckingham Palace renovations.
Fitzwilliams also pointed out that the British royal family brings in extra tourism, adding that the country “mustn’t forget that the UK has the world’s most high-profile monarchy.”
“Britain wouldn’t be Britain without the royals,” he told Express. “The monarchy is an extraordinary institution that shapes how we’re seen in the world, and it brings in a lot of money in return,” citing tourism as an example.
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