Inside ‘The Firm’: How The Royal Family’s $28 Billion Money Machine Really Works

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How the Royal family's $28 billion money machine really works:

Beyond the extended family, the House of Windsor has thousands of employees around the world. Buckingham Palace alone employs some 1,200 people—even if they aren't always paid a Queen’s ransom to work there. An entry-level IT specialist can make upwards of $40,000 a year, as well as benefits, at Buckingham Palace, according to a recent job listing on an official palace portal.

In the fiscal year ending March 31, 2020, the Crown Estate pulled in more than $700 million, with more than $475 million in profits. The royal family receives 25% of the Crown Estate income, which is also known as the Sovereign Grant, and the remaining 75% goes to the British Treasury.

last year. Of that, $7.3 million funded the Prince’s 132 personal staffers, $6.75 million went to taxes and $4.4 million was dedicated to charitable activities, including the Prince’s Trust, Charles’ charity to help unemployed youth. A good portion of this income has also been used to support his sons. Prince William and Prince Harry received a combined $7.8 million last year to support their own operations, but as Harry suggested in the Oprah interview, that is no longer the case for him.

Source: News Formal (newsformal.com)

 

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