they inherit it from generation to generation. But how do they keep making money to keep from spending all of it.
2007-09-18 20:13:03 · 13 answers · asked by Anonymous in Society & Culture ➔ Royalty
Investments. They probably never spend the principal, just the interest and dividends.
Look at the stock market, it has its highs and lows, but in general it increased (for the last 100 years) at average rate of 11%. Inflation average rate was 3%. So, if your family has money invested it should grow faster than the rate of inflation and still have plenty to live off.
2007-09-18 21:37:23 · answer #1 · answered by wildeyedredhead 5 · 3⤊ 0⤋
Some of it is inherited and invested - prince charles inherited the duchy of cornwall - but it makes money because he has made it into organic farmland etc and sells the produce. Some, such as Prince Andrew, have worked jobs - navy pilot. When he married, he inherited a dukedom and started receiving a civil list allowance, which is spent on staff and upkeep, etc.
They also pay taxes like the rest of us (legally I dont think they have to - but the Queen and Prince Charles choose to).
But i dont know if Id call them "Rich" - they can't really buy their own private jets - and the castles and land really don't belong to them either.
I think the Queen summed it up nicely once when she referred to herself as "the current caretaker of public property"
2007-09-19 15:03:21 · answer #2 · answered by allusian_fields 4 · 1⤊ 0⤋
They have investments, real estate rentals and income from their estates. They also have various businesses - the Queen has kennels at Sandringham and sells Labrador retrievers - she has bred race horses for years, produce from the estates is sold etc. Prince Charles sells organic produce from his estates, livestock, etc. and specializes in rare breeds of animals.
A small amount of money comes from taxes, but that is paid toward the expenses that they incur from their official duties. In reality, the money from the Crown Estates, millions of pounds, is paid into the Treasury, and only a small amount is returned to the Queen for expenses. She also reimburses the allowances made to members of the Royal Family. Of course, they all pay income taxes as well.
2007-09-19 11:42:39 · answer #3 · answered by Anonymous · 3⤊ 0⤋
Part of it is the inheritance from generation to generation the other is UK taxes go to the royal family
2007-09-19 17:42:48 · answer #4 · answered by Laura 4 · 0⤊ 1⤋
Many are not rich, the royalty of Britain keeps wanting to sell Buckingham palace because of the cost of upkeep. No one wants it but the govt. and public keep them there. but they are taken care of by the government. but its not like they have giant safes of gold to swim in. Royalty being constantly rich is such a myth
2007-09-19 20:32:00 · answer #5 · answered by Acappella S 3 · 1⤊ 0⤋
Each royal family has a different way of income. I believe that in the UK the royal family gets the majority of it's income from tax paying citizens. They may have personal investment...such as real estate but that's it. Other royal family gets their revenue from oil. I think it's one of the royals in Europe (sorry I don't recall which one). The royals in Monaco...They get their money from the casino's. Depends on which royal family your talking about.
2007-09-20 09:02:32 · answer #6 · answered by imahlah 6 · 0⤊ 1⤋
Well usually the people tax dollar go toward the royal families. There's a set amount for each British citizen to "donate" to the royal family, plus many royal families have old and new castles for the public to go through when they are on vacation and it's not free, lol.
2007-09-19 13:01:35 · answer #7 · answered by Anonymous · 0⤊ 2⤋
Us in the UK pay income tax and a percentage of this goes to the Royal Family. I often wonder though if they get paid for public appearences and interviews???
2007-09-19 07:29:45 · answer #8 · answered by Missy 2 · 1⤊ 1⤋
Remember, nobility used to be LANDED nobility... if they keep renting or otherwise generting revenues from their estates, they don't need to ever get poorer.
2007-09-19 11:19:59 · answer #9 · answered by Svartalf 6 · 1⤊ 1⤋
From the people. In my understanding, UK people pay taxes and a percentage of those taxes go to the British Crown.
2007-09-19 03:17:34 · answer #10 · answered by Screwdriver 4 · 0⤊ 4⤋