Queen Elizabeth recently sparked rumors that she could be going broke.

According to Globe, much of the queen’s money is used for the renovation and maintenance of her massive properties.

For instance, Buckingham Palace is on a ten-year renovation plan right now, and this would, reportedly, cost millions.

However, Gossip Cop immediately debunked the tabloid’s claims by saying that the queen is one of the richest women in the world. And there’s no truth to the claims that she’s going broke.

In fact, the tabloid also mentioned that the renovations are shouldered by British taxpayers. And since this is the case, the queen won’t be using her money to renovate her properties. As such, there’s no way that she would go broke.

“Plus, the royal family actually brings in more tourist dollars than it spends, otherwise, it wouldn’t still be in existence, as it is. Whatever money the queen owes, she would (at least in a non-COVID-19 year), bring back in many times over simply by living at home,” they said.

Gossip Cop also said that if the queen owes the bank some money, she wouldn’t even have to worry about how she’d pay her debt. After all, Forbes recently revealed that the queen’s net worth is somewhere between $500 million and $1.5 million were she to start selling her jewels.

The rumor-debunking site also slammed the tabloid for having no royal insight whatsoever. After all, they have been accusing the royal family of struggling financially.

This is a common narrative from the tabloid when talking about Prince Harry and Meghan Markle. Since the Sussexes quit The Firm, the tabloid has been saying that they won’t survive because they don’t have money.

As members of the royal family, the Duke and Duchess of Sussex previously received financial support from the queen, Prince Charles, and more. But all this stopped since they are no longer considered as working royals.

The same tabloid that accused Prince Harry and Markle of going broke also claimed that the Suits alum was spending $54,000 on her haircuts. If the couple didn’t have any money, there’s no way for Markle to be able to spend this much on her hair.

As such, one should always take the claims made by the tabloid with a grain of salt especially when they are about the royal family. Chances are, they are untrue.