Do You Ever Wonder How The Royal Family Spends Their Money?
Published on December 20, 2019
The royal family is synonymous with wealth. It is a tradition for the English monarchy to host opulent parties, wear the most desirable of Haute couture, drive very expensive cars, and support an array of charitable organizations with their surplus gold coins. And can you blame them? With the eyes of the world permanently fixed on their lives, who wouldn’t strive to look their absolute finest, all the time?
Let’s take Kate Middleton, AKA the Duchess of Cambridge, for example. This former fashion student hit the jackpot with her choice of beau Prince William and bore him three adorable heirs named Louis, George, and Charlotte. Renowned as being the most stylish member of the royal troupe, Kate is obliged to wonder and impress everywhere she goes – and this is something she does, very, very well. According to GoBankingRates, the fashion icon owns a number of, er, quite expensive items.
Kate is regularly seen toting a variety of gorgeous handbags, one of the most expensive of which being her $850 Mulberry Darley shoulder bag. Now, that would burn quite a large hole in our pockets. However, she also owns a slightly more affordable Longchamp Le Pliage tote, which comes it a minimal $145. The literally worth-its-weight-in-gold wrist attire she favors, notably a Cartier watch, comes in at a hefty price tag of $2,195!
On Meghan Markle’s wrist, you’ll find an even more extravagant adornment in the form of a gold bracelet, worth $6,650, and a gift from her husband, Prince Harry.
Now, we could fill pages with Kates enviable wardrobe choices. However, Prince Phillip outshines Kate’s spending habits with his insane collection of rare cars. His 1954 Aston Martin Lagonda 3-Liter Drophead Coupe was auctioned off in 2016 (maybe he was strapped for cash?!) and worth an estimated $640,000.
Like father, like son, Prince Charles also owns an extremely rare 1969 Aston Martin Volante DB6 MKII, according to People magazine.
From Clothes To Cars, They Sure Know How To Splash Cash… But That’s Not All
Collectively, the monarchy received a total of $104 million from British taxpayers last year, according to Insider, $42 million of which was spent on palace refurbishments and upgrades for the homes of the royal descendants, and $1.2 million on travel.
A separate $3 million was reserved for the renovation of dream couple, Prince Harry and Meghan Markle’s Frogmore Cottage residence. (‘Cottage’ is a very conservative description; the 17th Century property is set in 33 acres of gardens and boasts ten bedrooms)
However, the royals are also known for their charitable work- with the Duchess of Cornwall- otherwise known as Camilla Parker Bowles- and her husband Prince Charles, together with the princes, spending an impressive $14 million on charitable causes according to the official website of Prince Charles. Makes your Salvation Army subscription seem a little inadequate, right? Of course, with such an exponential amount of wealth, it is customary to donate a sizable portion of it.
Of course, there’s the private education.
A significant budget is put aside for the royal education, too. According to the Express, the royal children are no longer home-educated (as was the tradition) and now attend the countries most prestigious private schools. Including but not limited to Eton College (known to produce successful politicians and entrepreneurs) and Gordonstoun in Scotland, whose fees are currently set to a whopping £38,250. That’s more than the median income of the average British family, according to the Office of National Statistics. Only the best for the Royals!
In contrast to the family tradition of extremely generous spending, this year, Harry and Meghan were actually spotted purchasing an $86 Nordmann Fir Christmas Tree, which was paid for by a credit card.
Sure, they can count on rather large gifts from the family, but maybe Harry and Meghan’s Christmas will be a humble one this year!