The British royal family is one of the wealthiest families in the world. All of the family’s assets total to nearly $90 billion, and they receive plenty of money from taxpayers to do what they do as well. It’s no surprise the family spends millions each year on travel and clothes, but one of their biggest expenses is something we hardly think about when it comes to royal spending.
The royal family spends millions each year on travel and clothing
Each year, the royal family releases an annual report on their spending, which allows the public to see how the royals use the tax dollars contributed by commoners. It also allows for a small peek into the lives of the billionaire family — and it turns out they spend millions on travel and clothing (though that might not come as a surprise).
In the family’s 2017 report, approximately $6 million went toward travel expenses. The expenses cover things such as lodging and flights, and since the royals typically fly on private aircraft, the bills add up quickly.
Clothing is another major expense in the family. Meghan Markle took some heat from royal fans when she was spotted wearing an $18,000 Givenchy dress during one of her first official royal engagements. Meghan and Kate Middleton both spend close to $1 million on their royal wardrobes in any given year (though Meghan might have cut back now that she and Harry are no longer official members).
Surprisingly, the family spends $30 million annually just on property maintenance
It’s easy to think about the expenses adding up on things such as clothes and travel, but both of those expenses pale in comparison to how much the royals spend to maintain their massive properties, of which they own many throughout the United Kingdom.
According to GoBankingRates, the royals spend about $24 million each year on traditional property maintenance, which includes keeping up with curb appeal, maintaining common areas, etc.
In that same category, the royals spend an additional $4.1 million on utilities each year, plus another $2.9 million on housekeeping and hospitality. Those who have seen the royal properties, such as Buckingham Palace and Kensington Palace, might have noticed the immaculate grounds — which come at a premium.
The family’s other major expenses are staff and security
Property maintenance isn’t the only royal expense that runs in the $30-million range. The royals also spent a similar sum on things such as staff and security. GoBankingRates reported that, in 2017, the queen’s payroll cost a whopping $27 million. From the gardeners to the housekeepers, and the royals’ assistants and stylists, there are more than 1,000 people employed within the royal family.
The total cost of security for the royal family remains unknown, but it’s estimated that at the Cambridge and Sussex royal weddings in 2011 and 2018, security cost more than $30 million (for each event). Plus, once Harry and Meghan left the royal family, figures estimated that it could cost the two $5 million annually in private security.
Source: Read Full Article