Lerato Maimela
Digital Journalist
4 minute read
5 Jul 2022
11:39 am

Watch: Royal news How royal family get their money, Charles happy to meet Lilibet

Lerato Maimela

One of the portfolios which give the royals money is the Duchy of Lancaster which is owned by Queen Elizabeth II.

Her Majesty, Prince Charles and Camilla. Picture: Instagram

In this week’s royal news update, the sovereign grant report has given a breakdown of where the royal family gets their money, and how they spend it.

Prince William sent letters to the 180 recipients of the Diana Award, congratulating and thanking them for their bravery and determination, and Prince Charles was overjoyed to meet Lilibet for the first time and to see Archie again.

Where does the royal family get their money?

Last year, the royal family received an annual grant from the government of 86.3 million pounds. This means that Britain’s public each contributed 1.29 pounds towards the royal family’s riches.

The royals also get money from the Duchy of Cornwall, which is a portfolio of land properties and investments which can be found in over 20 countries that generates around 23 million pounds a year.

This includes things such as London’s oven cricket ground, as well as Dartmoor prison.

Another portfolio which gives the royals money is the Duchy of Lancaster which is owned by Queen Elizabeth II, and generates around 20 million pounds each year.

According to the Sovereign grant report, most of the grant money the royals received from the government went towards travelling by the royals, and a sum of 63 million pounds was spent on property maintenance.

It is still unknown how much money the royal family generates for their country, but the country does generate a lot of money from tourists who visit Britain and spend their money on British products and services when they are in the country.

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Prince Charles was very emotional meeting Lilibet for the first time

Prince Charles got the chance to meet his granddaughter Lilibet for the first time last month when the Duke and Duchess of Sussex jetted to the UK with their two children for the Queen’s Platinum Jubilee.

A senior royal revealed that Meghan and Harry were thrilled to see the other royal family members during their visit in the UK.

The royal also said that the Prince of Wales had not seen his grandson Archie for some time so it was a wonderful experience to see him again and spend time with him.

Meghan and Harry’s visit to the UK also gave the 96-year-old monarch the opportunity to meet Lilibet for the first time, who celebrated her first birthday in the UK during the Platinum Jubilee weekend.

Prince William honours the ‘inspirational’ recipients of the Diana Award

A virtual ceremony honouring the 180 winners of the Diana Award was held on Friday, 1 July, a day which would have marked the late Princess Diana’s 61st birthday.

The Duke of Cambridge sent a letter to the award winners thanking them for their compassion and determination, and praising them for being an inspirational group of people who are “changing the world through their actions”.

“Congratulations on receiving the Diana Award today! You are part of an inspirational generation of young people who are changing the world through your actions, and I hugely admire your efforts.

“Your stories are remarkable. Many of you face challenges in the face of difficult times, yet you are tirelessly breaking down barriers to create a better future for us all.

“Thank you for your compassion, bravery and absolute determination. You truly are the personification of my mother’s legacy and I know she would be so proud of you all.

“I believe there is no better way to celebrate her life and work than through recognizing incredible people who dedicate so much time and effort to helping those around them.

“I hope that you stand proud in the knowledge that you are making a real difference and that you enjoy today’s ceremony, you deserve it,” said Prince William.

Catherine, Duchess of Cambridge photographs Duchess of Cornwall for magazine shoot

Prince William’s wife, who often takes the public photographs of their children was personally requested by William’s stepmother to take her images for the upcoming issue of Country Life magazine, which Camilla has guest-edited “The Duchess of Cambridge took our cover images at the request of our Guest Editor, The Duchess of Cornwall, and we could not be happier with the results.” “In fact, the set of images she took was so good that we struggled to choose only three, from which The Duchess of Cornwall made her final selection.”