What is the Queen's net worth and how much does Queen Elizabeth II earn each year?

But how has Her Majesty made her incredible fortune and what's our head of state's net worth? Here's what we know…

What is Queen Elizabeth II’s net worth?

The Sunday Times estimated the Queen’s private net worth at around £370million.

This cash comes mostly from the Duchy of Lancaster which is made up of 18,454 hectares of land in England and Wales.

The Queen is also believed to have her own private investments, jewels, cars, horses and royal and historic items of value.

However, most of the Queen's household income – covering her personal and family expenses – comes from an annual government grant.

The cash is a small fraction of the profits from the Crown Estate, a vast property empire that belongs to the monarch but whose revenues go to the Treasury.

The Queen also gets to enjoy the assets that are technically attributed to the Crown, including Buckingham Palace.

Over the past year, public funds used by the Queen for official expenditure and duties went up from £41.9million to £47.4million.

This is because more than £4million was spent on improvements for Buckingham Palace and £21.4million went on payroll costs.

A Buckingham Palace spokesman said the figure represented an operational cost of 69p per man, woman and child in the UK, up from 65p last year.

The Crown Estate saw profits of £329.4million – a jump of four per cent – with the total Sovereign Grant was £76.1million.

Her taxpayer-funded costs rose by 13 per cent – with Prince Charles costing £141,263 on seven trips on the Royal train.

How has the Queen made her fortune?

Real estate and land ownership all contribute towards the monarch’s fortune.

Her impressive building portfolio boasts both Sandringham House and Balmoral Castle.

According to Forbes, Lenka Duskova from real estate agency Luxent values these two properties at around £80million combined.

While these estates are the jewels in Her Majesty’s crown, she also holds agricultural land across the nation, as well as lavish buildings in the capital.

Even though she does not personally own the properties controlled by the Crown Estates, 15 per cent of the annual revenue does go towards her own expenses each year.

This Sovereign Grant provides for the upkeep of palaces, household staff, travel and royal functions including garden parties and receptions.

Last year, she made £37million from leasing the seabed around Britain to offshore wind farm developers.

Why is the Queen receiving a £6million pay increase?

The Queen is to get a £6million funding increase thanks to a record performance by the Crown Estate.

It comes after another boost in taxpayer cash to cover the refurbishment of Buckingham Palace.

Increased revenues from the Estate, which owns properties and land across Britain, will see Her Majesty’s sovereign grant rise by eight per cent from £76million in 2017-18 to £82.2million the year after.

The Queen’s funding is based on a percentage of the Estate’s profits, which rose £24million to a record £329million in the financial year 2016-17.

What is the Paradise Papers row?

The Queen was embroiled in a tax row after it emerged her private estate is among the ranks of the mega-rich secretly investing cash in offshore tax havens.

More than 13 million leaked financial documents, dubbed the Paradise Papers, alleged that the Duchy of Lancaster, which handles the Queen's £500million estate and investments, has held funds in the Cayman Islands and Bermuda.

Around £10million of the Queen's private cash is said to have been tied up in offshore portfolios, the BBC reported.

There is nothing to suggest that any investments are illegal, the broadcaster added.

The estate also had small investments in the controversial rent-to-buy retailer BrightHouse and the Threshers chain of off-licences, which went bust owing £17.5m in tax and costing almost 6,000 people their livelihood.

BrightHouse was ordered to pay £14.8million pounds to 249,000 customers after the financial watchdog found it had treated them unfairly.

The Duchy told the BBC it was not involved in decisions made by funds and there is no suggestion the Queen had any knowledge of the specific investments made on her behalf.

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