How does royal family make money
As they are no longer "working royals," Harry and Meghan are free to make their own income. The couple were not paid for the interview with Oprah, but since moving to the US they have made deals with streaming services Netflix and Spotify.
There has been speculation that these deals are worth millions. They have set up an organisation called Archewell , which has production arms alongside a non-profit foundation. When the couple lived in the UK they were given a security detail provided by the Metropolitan Police. It's not known how much this cost. After the Canadian government announced it would stop providing security for the family, Harry and Meghan decided to move to the US.
There, American billionaire and media mogul Tyler Perry offered the couple a home to stay in and security during the early months of lockdown, the couple revealed. Asked by Oprah how the couple would respond to accusations of being "money-grabbing", Prince Harry said the deals with Netflix and Spotify were "never part of the plan", but were necessary.
This grant is paid from the government to the Royal Family to cover expenses for official duties and looking after royal palaces. Those must be passed on to the next sovereign so they'll remain in the family, obviously.
And again, any income that trickles down to Elizabeth's children and grandchildren from the Duchies is on top of their own inherited wealth. The queen has voluntarily paid income tax and capital gains tax since ; any income received from the Duchy of Lancaster that doesn't go to official expenses is taxed as well. She's subject to Value Added Tax also voluntarily pays local taxes.
Out of pocket? Honestly, not much—collectively, that is. In , it cost each average British taxpayer about 65 pence a year, according to Fast Company.
So less than a dollar. Even with the cost spiking by 41 percent in per Business Insider , the individual taxpayer still pays cup-of-coffee money. An artisanal, organic cup of coffee. For more stories like this, sign up for our newsletter. Your Best Life. Type keyword s to search. The royal family gets paid through a mix of public and private funds. You may be able to find the same content in another format, or you may be able to find more information, at their web site. Related Stories. This content is imported from Instagram.
View this post on Instagram. Tim Graham Getty Images. This content is created and maintained by a third party, and imported onto this page to help users provide their email addresses. You may be able to find more information about this and similar content at piano. Advertisement - Continue Reading Below. The couple will likely use book deals and speaking engagements to fund their luxurious tastes going forward, royal commentators previously told Business Insider.
Even though Harry has never had a job outside of his military service , it likely won't take much effort for them to start raking in multimillion-dollar paychecks.
The Sussexes have "great earning potential," royal commentator and author Kristen Meinzer told Business Insider. The reason I compare the two is that they're already friends with each other and I would put them on the same level in terms of fame. World globe An icon of the world globe, indicating different international options. Get the Insider App. Click here to learn more.
A leading-edge research firm focused on digital transformation. Caroline Praderio and Taylor Nicole Rogers. The Queen 's historic year reign hasn't been entirely funded by taxpayers.
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