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by Massey on July 2nd, 2005

Massey

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How do the British royal family finance themselves?

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  • by Anonymous on September 17th, 2005

    Anonymous

    I'm not sure about the queen or prince phillip, but I know that the other members of the royal family are financed by the government through what is known as the "civil list" - that is, in exchange for doing their royal duties, they recieve a paycheck and their housing. Prince Charles is the exception - he, the Duchess of Cornwall and William and Harry get money through the Duchy of Cornwall- publically held lands (in other words, they don't own the lands-think of them as a public park. But the lands generate a good deal of income, and this is what they live on).

    I don't think Prince Charles is independenly wealthy-I think all his income comes from the Duchy of Cornwall. So in that respect, I think he is dependent on his title for his living.

    The reason I think this is just before William's 21st birthday, it was pointed out by the BBC that William was the first Prince of Wales to be independently wealthy for several generations. Both William and Harry inherited close to $50 million upon their mother's death (I might be wrong about the amount, but it was somewhere around that amount-what I do remember is Harry inherited more money because William would inherit so much when he became king).

    The reason the BBC was so interested in this point was the fact that William was the first Prince of Wales in a long time who was financially independent-neither he nor his brother depended on their titles, or the British government, for their money.

    Anyway, that's the short answer; the best place to look for a longer answer would be the BBC or THE GUARDIAN - both British - because I have read many articles on this topic at those sites.

    Hope this helps !!!

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