The Royal Family Is Worth £67.5 Billion, According To New Report
This will almost definitely come as no surprise to you, but the royal family is worth a fortune. Shocker, eh?
'Brand Monarchy' is valued at an eye-watering £67.5 billion ($89.4bn), according to a report from a consultancy firm, and contributes a whopping £1.77 billion ($2.3bn) to the British economy each year.
The recent figures, from Brand Finance, reveal that the Windsors are worth more than ever, with tangible assets such as their properties, jewels and art making up £25.5 billion ($33.7bn) and the other £42 billion ($55.6bn) coming from assets such as tourism, media and trade. Shows such as The Crown and Victoria are reported to have boosted the media and arts industries at around £50 million ($66m).
A knock-on effect of the tourism and popularity of shows like The Crown is the £1.77 billion ($2.3bn) that's pumped into the British economy every year.
The firm also said that the popularity of the royal family was growing, citing a 2015 survey which found that 71 percent of Brits think the monarchy should remain in place.
In 2015, Brand Finance used the term the 'Kate effect' to describe the £152 million ($200m) boost to the UK economy caused by fans of the Duchess of Cambridge rushing out to buy clothing and products that had been 'unofficially endorsed' by her. Basically, if she wears a dress or a pair of shoes, they sell out in about six minutes.
The consultancy firm predicted a similar effect if Harry weds his partner, Meghan Markle.
According to the firm, the cost of 'maintaining' the royal family is around £292 million ($386m) a year, meaning the annual cost per person was just under £4.50 ($5.96) - or a little over 1p a day.
If the monarchy was a business it would be the third biggest in the world, beaten only by Google (£76.8 billion/$101bn) and Microsoft (£65.7 billion/$87.2bn), which is pretty staggering when you think about it.
These figures follow on from the recently published 'Paradise Papers', which revealed that £10 million of the Queen's money was held in an off-shore fund, causing a backlash about why the money was invested overseas.
However, officials speaking on behalf of the monarch said she has no direct involvement in the investments and that they are 'not aware of any tax advantages'.
The CEO of anti-monarchy campaign group Republic Graham Smith told the Independent: "The Queen is responsible for her investments, she should have instructed her advisers to ensure her money was invested ethically, and that there was no tax dodging involved."
Featured Image Credit: PA