A new book claims the Queen’s private fortune has risen to around £400 million, with much of the EU subsidies being withheld from public knowledge.
The Queen’s True Worth shows estimations of Her Majesty’s fortune of around £50 million more than previously understood.
Royal finance expert David McClure explains that Elizabeth II received a 55 per cent rise in EU farm subsidies at Sandringham after Prince Charles began using organic practices at the the estate. A sustainability drive headed by The Prince of Wales also won the estate an extra £313,517 from the EU’s budget for rural development projects.
Sandringham has received more than £3 million throughout the past five years, including £935,908 in 2019, which is 55 per cent more than the previous year.
These often overlooked payments from the EU have meant estimates of the Queen’s overall wealth have been considerably lower than previously understood, and when Brexit is finalised in December, the royal family could be hit hard.
Sandringham was supported, financially, thanks to the generous payments from the European Community.
McClure writes: “After the United Kingdom entered the EEC in 1973, Sandringham as one of the largest farms in Norfolk, became eligible for a large slice of the Common Agricultural Policy’s farming subsidy budget.
Previous estimates have put the value of Sandringham at between £30million and £45million but, significantly, do not take into full account the extra value attached to the royal name.”
He continues: “If that is factored in, then – as we have seen from inflated prices paid at auction for other royal property – Sandringham might easily be worth £60million to £80million on the open market.”