Queen Elizabeth could, allegedly, end up poor because she uses her money irresponsibly.
According to Globe, the queen’s personal wealth is estimated at around $450 million. But she could eventually end up poor despite her access to all the assets of the British monarchy. In total, these assets are estimated at $88 billion.
The tabloid claimed that most of the queen’s money is locked in her horse-racing hobby. And she’s very much willing to spend millions to sustain her obsession with her horses.
Even though the country is already plagued with the virus, and the queen has lost a considerable amount of cash due to COVID-19, she still spends millions on her horses.
The queen also shells out a huge sum of money for the maintenance and renovation of some of her properties. But most of them are shouldered by the taxpayers.
For instance, Buckingham Palace is reportedly valued at $2.8 billion. The monster home has 775 bedrooms, 52 guest rooms, 188 staff bedrooms, and 78 bathrooms. The property is maintained by British taxpayers. And it is currently undergoing a 10-year renovation that costs $47.7 million per year.
The queen’s other home, Sandringham is estimated at 65 million. The place is where the queen grows her barley, oats, and truffles. The farms in Sandringham also houses Prince Charles’ organic sheep flocks.
Luckily, the crops also help generate additional income for the royal family. As such, the money used to renovate and maintain Sandringham offsets with their revenue from the crops and farm animals.
The queen, her children, and grandchildren usually got to Balmoral if they want to chill and get away from the hustle and bustle of the city. The 52-bedroom property is estimated at $200 million. But it costs $4 million to maintain the property.
Additionally, the queen spends a lot of money on her racing stables in Sandringham. And she doesn’t seem to mind spending millions on her ponies. Last year, she, reportedly, shelled out the huge sum of money just to watch her ponies gallop around the track.
Every year, the queen, reportedly, spends $13 million just to run her stables annually. And within the last three decades, she just got back roughly around $8 million.