Queen Elizabeth II leaves behind an estimated £430 million money and property upon her passing.

The Queen’s own fortune, which she amassed through her art collection, jewelry, real estate holdings, and investments, will be inherited by King Charles III.

However, much of what appears to be her property is actually owned by the Royal Firm.

Prince Philip and King George VI frequently referred to this £24 billion enterprise as “the family business.”

A portion of the Queen’s income when she was alive came from a taxpayer fund known as the sovereign grant, which was given annually to the Royal Family.

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King George III established the sovereign grant when he gave up his income from Parliament in exchange for a fixed annual payment for himself and future generations of the royal family.

Originally referred to as the civil list, the award is funded by a percentage (originally 15%) of the revenues from the crown estate.

In order to finance the renovation of Buckingham Palace, the grant was increased from 2017 to 2018 from 15% to 25%, and is scheduled to be lowered down to 15% by 2028.

In 2021 and 2022, this payment of £83 million financed the Queen’s official travel, property maintenance, and operational or maintenance costs at Buckingham Palace.

In addition, there is the Firm, which is comprised of the most senior members and public faces of the House of Windsor.

After the Queen’s passing, King Charles III assumes leadership of the Firm, a global economic empire that annually injects hundreds of millions of pounds into the British economy through tourism, broadcast events, and special anniversaries such as jubilees.