On September 8, the longest-reigning monarch of England, Queen Elizabeth II, died at age 96.
The queen, who came into her role at the young age of 25 and was crowned in 1953, passed away at her Scottish castle at Balmoral Estate after battling a number of health problems the past few years. She died surrounded by family, shortly after a statement was released earlier in the morning noting she was under medical supervision with royals “concerned for her health” as many feared for this development.
Buckingham Palace released a statement, noting, “The Queen died peacefully at Balmoral this afternoon. The King and the Queen Consort will remain at Balmoral this evening and will return to London tomorrow.”
Flags across the U.K. and the Commonwealth have been moved to half-mast to mark the sad occasion. With her passing, Queen Elizabeth II’s son Prince Charles is now declared king, with a full proclamation to be held at St James’s Palace in London in the coming days, as noted by The Guardian.
Queen Elizabeth II’s Net Worth: $600 Million
At the time of her passing, Queen Elizabeth II’s net worth was $600 million, according to Celebrity Net Worth.
As GOBankingRates previously reported, citing Forbes, the queen’s personal wealth is linked to her robust collections of art, jewelry and a pair of private properties including Sandringham House and Balmoral Castle, the latter being the spot where she passed away. Parade notes that Balmoral Castle is valued at $140 million while Sandringham is valued at $65 million.
The Queen also receives 25% of annual profits from the Crown Estate income, which is a portfolio of residences valued at $28 billion belonging to the monarchy; the other 75% goes to the British treasury. Forbes listed data for 2020, noting the Crown Estate made more than $475 million in profits, netting the royal family around $120 million.
Inheritances from late members of her family have also added to Queen Elizabeth’s net worth, says Parade. That includes the $94 million received from the Queen Mother’s estate when she passed in 2022 (from art, Faberge eggs, horses and jewelry) and most of the $30 million from the estate of her husband, Prince Philip, who preceded her in death in April 2021.
Parade also reports Elizabeth II financially benefited from the “Privy Purse,” a collection of landholdings from the Duchy of Lancaster passed down to each new sovereign. It includes 45,700 acres of farms in England. Town & Country has noted this was a “major source of income” for the Queen hitting $30 million in profits in 2020 alone.
Queen Elizabeth’s Ascension to the Throne
Born on April 21, 1926, Princess Elizabeth of York was the firstborn of the Duke and Duchess of York, who later became King George VI and Queen Elizabeth I. In her early royal role, she took on public duties during WWII, and, in 1947, she married Prince Philip Mountbatten (who was an heir to Greece and Denmark); they were married for 73 years. They welcomed four children together, Prince Charles, Princess Anne, Prince Andrew and Prince Edward.
When Elizabeth’s father, George VI, passed away in 1952, she became Queen of England at just 25 years old and was officially crowned a year later (the first royal ceremony to ever be televised per Celebrity Net Worth). Having served for 70 years and seven months, Queen Elizabeth II was the longest-reigning monarch and arguably one of the most recognized royals around the globe.
During her reign, Elizabeth II ruled over the Commonwealth, which is comprised of 16 nations including the United Kingdom, Canada, Australia, New Zealand, Jamaica, Barbados, the Bahamas, Grenada, Papua New Guinea, the Solomon Islands, Tuvalu, Saint Lucia, Saint Vincent and the Grenadines, Belize, Antigua and Barbuda, and Saint Kitts and Nevis. The queen was also the head of the Church of England.
Prior to Elizabeth II’s death, one of the biggest shocks to the royal family was the untimely passing of the late Princess Diana after a fatal car accident after she was allegedly being chased by paparazzi, an event that marks a 25-year milestone in 2022.
What’s Next for the Royal Family and England
Upon news of the queen’s passing on September 8, The Guardian reports there is now a period of official mourning in which royal residences will be closed to the public and bells will be tolled at Westminster Abbey and St. Paul’s Cathedral on Friday. The outlet also reports there will be ceremonial gun salutes at Tower Hill and London’s Hyde Park. Details will also likely soon emerge for her funeral services, which are expected to be — like most significant royal events — one of the most televised in history.
Prince Charles will also be fully recognized as King of England in a public ceremony. On Thursday he released a statement that read, “The death of my beloved mother, Her Majesty The Queen, is a moment of the greatest sadness for me and all members of my family. We mourn profoundly the passing of a cherished sovereign and a much-loved mother. I know her loss will be deeply felt throughout the country, the realms and the Commonwealth, and by countless people around the world. During this period of mourning and change, my family and I will be comforted and sustained by our knowledge of the respect and deep affection in which the Queen was so widely held.”
As King Charles III takes the throne, the next heir apparent is the queen’s grandson and Charles’ son William, Prince of Wales.
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