Skip to main content

The Fortune of Queen Elizabeth the Queen Mother: Why Prince Harry received more from her great-grandmother

Prince Harry benefits from the Queen Mother's trust. Images from Wikimedia Commons

When Queen Elizabeth the Queen Mother died in 2002, she passed on her entire estate, mainly made up of the contents of her houses, to her only surviving daughter, Queen Elizabeth II. Her fortune, which she derived from inheritance from her parents, King George VI, and Dame Margaret Greville, were poured on investments in paintings, Faberge egg collection, china, jewellery and horses. Under a deal reached with Prime Minister John Major’s government, Queen Elizabeth II was exempted from paying inheritance tax on her mother's estate. Major defends the action as a necessary step to preserve the sovereign's financial independence and to compensate her for not being able to earn her own living.

The queen decided that the most important of her mother's pictures and works of art, including those of Monet's, Nash's and Carl Faberge's, should be transferred to the Royal Collection and to be held in trust for the nation. 

A portion of the queen mother's fortune, estimated between £50 million and £70 million at the time of her death  was held in trust for her great-grandchildren, Princes William and Harry and Princesses Beatrice and Eugenie.  The bulk of this amount was earmarked for Prince Harry since his older brother will eventually benefit from the Duchy of Cornwall when he becomes Prince of Wales. An even greater fortune awaits William when he becomes king one day. Of the £14 million-pound trust, £6.9 million was set up for Prince Harry, while roughly £4 million was allotted for Prince William. A trust worth £2 million was established for Princesses Beatrice and Eugenie.   

Reshuffling of royal residences took place after Queen Elizabeth the Queen Mother’s death.  She maintained four residences throughout her long widowhood. Clarence House was her London residence, Royal Lodge, her weekend retreat, and she maintained Birkhall as her Scottish holiday home. She also owned the Castle of May located in the far north of Scotland (the only home she ever bought). With her passing, Prince Charles moved from St.James’s Palace to Clarence House, while Prince Andrew took over Royal Lodge after giving up Sunninghill Pask. The Castle of Mey has long been handed over to the Queen Elizabeth Castle of Mey Trust.



Related Posts Plugin for WordPress, Blogger...

Popular posts from this blog

A Day in the Life of The Queen: How Queen Elizabeth II Spends Her Day

Queen Elizabeth II is a stickler for order, and so routine is a part of Her Majesty’s day-to-day life. She rises at around 8.30 am and would be greeted by a piper who plays at 9am on the terrace beneath her apartment at Buckingham Palace. When longtime attendant and confidante Margaret MacDonald was still in service, Don Coolican noted that  Bobo, as The Queen affectionately called MacDonald, would awaken her, “bringing in a cup of tea and a plate of biscuits handed over by the footman.” The Queen’s corgis are the first creatures to grace The Queen , who would also beg to be given biscuits, Coolican writes.

A Rose Named Alexandra: The Story of Europe's Most Beautiful Queen

Queen Alexandra’s singular beauty and charm endeared her to the British people the moment she stepped foot on the English soil in 1863. In fact, the arrival of the Sea King’s daughter was anticipated as it was celebrated that Tennyson penned a poem for her, “A Welcome to Alexandra.”

The Truth about “Princess Qajar,” the Royal Lady with the Mustache

A Persian princess viral news websites baptized as Princess Qajar has lately become a stuff of legends. She was presented as a royal lady with a facial hair that made her so attracted that 13 men claimed their own lives because she couldn’t love them. The truth is, there was no “Princess Qajar,” only the Qajar dynasty  that ruled over Persia for more than a century.

The only fact about this historical meme is that at that time, it was fashionable for Persian women to wear mustache. “Many Persian-language sources, as well as photographs, from the nineteenth century confirm that Qajar women sported a thin mustache, or more accurately a soft down, as a sign of beauty,” explained Dr. Afsaneh Najmabadi.
The memes and fake stories circulating online refer not to a single princess, but actually to two female dynasts: Princess Fatemah Khanum"'Esmat al-Dowleh" and her half-sister, Princess Zahra Khanom Tadj es-Saltaneh. Their father, Naser al-Din Shah Qajar, ruled Persia from 1…