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Thursday, April 26, 2012

Royals flush

Royal wealth derives from inheritances or positions of power. All of the richest royals on this list are monarchs and serve as heads of often extended family fortunes. Many times wealth is controlled by royal families in trust for their nations or territories.

In Jubilee year, just how rich is the Queen and the Royal Family. Forbes magazine estimates it at a net worth of $500 million that comes from property holdings including Balmoral Castle in the Scottish Highlands, stud farms, a fruit farm and marine land throughout the U.K.; extensive art and fine jewelry; and one of the world’s largest stamp collections built by her grandfather. The Queen also receives an annual government stipend of $12.9 million. Not included are those assets belonging to the Crown Estate, but which she gets to enjoy as Queen, such as $10 billion worth of real estate, Buckingham Palace (estimated to be worth another $5 billion), the Royal Art collection.

Prince Charles, 62, got $28 million last year from Duchy of Cornwall Estate. He spends over half of after-tax income on official activities including more than $10 million last year on salaries of 150 staffers.

Diana reportedly left both Prince William, 28, and Prince Harry, 26, $10 million after taxes. They apparently started receiving annual dividends at age 25, estimated at $450,000 a year. They get the full sums when each turns 30. Prince William also earns between $68,000 and $74,000 a year as a flight lieutenant with the Royal Air Force while Prince Harry receives between $50,000 and $53,000 as a helicopter pilot for the Army Air Corps.

In 2010 the world’s 15 richest royals collectively possessed fortunes amounting to about $99 billion. Thailand's highly reveredKing Bhumibol remains the world's richest. Royal assets are held under Thailand's Crown Property Bureau. He is worth $30 billion. Sultan Haji Hassanal Bolkiah of Brunei with a fortune of $20 billion coms second. Saudi Arabia's King Abdullah bin Abul Aziz, Saudi Arabia has $18 billion and is in third place.

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