The British royal family is among the richest monarchies in the world, with total assets estimated at several billion euros. Although they do not formally own residences such as Buckingham Palace, the family members possess extensive private wealth including real estate, artwork, jewelry, and hereditary land estates, keeping their personal net worth at a multi-million level. The method of financing depends in great measure on the status of the individual, specifically whether they hold the role of the so-called “working member” of the royal family. It is precisely this role that determines the entitlement to funds from state and hereditary sources.
How Does the Sovereign Grant Work?
The basic mechanism of financing the British monarchy is the Sovereign Grant, an annual payment from the state budget intended to cover the official obligations of the monarch and working family members. These funds are used to maintain royal residences in use, finance official trips, personnel, and public engagements.
According to the available data, the Sovereign Grant could rise by 60 million dollars in the 2026/2027 fiscal year. In addition, some family members earn a significant income from duchies – large hereditary estates which yield multi-million sums annually. That income is used for private needs, official expenses, and humanitarian activities, but also for financing other family members.
For instance, according to official data, the Duchy of Lancaster, which belongs to the King, serves to cover the expenses of the wider royal family.
Although royal finances are complex and partially non-transparent, the publicly available reports enable a framework insight into who the wealthiest family members are, as well as who no longer receives state funding.
King Charles III
As expected, the Monarch is at the top of the ladder. According to the richest individuals in the United Kingdom list which the Sunday Times published in 2025, the net worth of King Charles III is estimated to be about 736 million euros. In 2025 alone, the income from the Duchy of Lancaster amounted to approximately 28.1 million euros.
Prince William
After Charles III’s accession to the throne in 2022, Prince William assumed the title of the Prince of Wales, as well as the management of the Duchy of Cornwall.
In 2025, this estate generated a surplus of around 26.3 million euros. According to established practice, the duchy will one day belong to his son, Prince George, when he becomes first in line to the throne.
Prince Edward, Duke of Kent
One of the oldest active family members, Prince Edward, Duke of Kent, over the decades has received funds from the Sovereign Grant (previously known as the Civil List) for performing official duties.
According to the research by The Guardian from 2023, over his life he received around 20.7 million euros, which is, considering the length of his service, significantly less compared to the annual income of the King and Prince William.
Princess Anne
The same research reports that Princess Anne, the daughter of Elizabeth II, during her 51-year-long service received approximately 19.1 million euros.
Her average annual expenses, including personnel and travels, amounted to about 374 thousand euros. Anne is considered the most active family member, with over 11,000 official engagements in the 2002-2022 period.
Prince Edward, Duke of Edinburgh
The brother of King Charles and Princess Anne, Prince Edward, Duke of Edinburgh, according to the estimates by The Guardian, has since 1982 received around 7.5 million euros from official sources, which on average amounts to around 200,000 euros annually to cover the expenses of the royal obligations.
Prince Harry and Meghan Markle
Prince Harry and Meghan Markle have stopped receiving funds from the Sovereign Grant since 2020. While Harry was an active family member he was funded through the Duchy of Cornwall and state funds, just like his brother.
After retiring from royal duties, the couple decided to cut financial ties with the monarchy and publicly stated they want to be fully financially independent.
Andrew Mountbatten-Windsor
Andrew Mountbatten-Windsor, the former Duke of York, received funds from the Sovereign Grant from 1978 to 2019, totaling around 14.8 million euros.
After his withdrawal from public life and the cessation of performing royal duties, he lost his right to official funds.
