UK’s Prince Harry is lucky he’s not footing most of the bill during his wedding to Meghan Markle this weekend.
Estimated by wedding planning company Bridebook to cost £32m ($43.1 million), most of which will be spent on security, the grand royal wedding could very well wipe out his personal fortune of $25 million to $40 million, according to various estimates cited by Time’s Money website. That would leave him depending largely on Markle’s personal fortune, estimated at $5 million, built from her career as an actress in America.
The grand wedding has drawn widespread attention once more to the wealth of the British royal family, which an estimate from Brand Finance, a marketing consultancy, placed at a whooping $88 billion as of 2017.
However, it turns out that about two-thirds of the estimate consists of intangibles, or the value that the monarchy brings to the UK economy in terms of tourism, trade and the like. Only a third is made up of tangible assets such as the Crown Estate, the Royal Collection Trust and the Duchies of Cornwall and Lancaster. Even then, these assets do not belong personally to members of the royal family but rather to the monarchy as an institution or the state.
In terms of personal fortune, the richest member of the British royal family is easily Queen Elizabeth II herself. Her net worth is estimated to be around $520 million by Wealth-X, a global wealth insights consultancy. Prince Harry’s personal fortune is not even a tenth of the queen’s holdings. (See first table of infographic)
Queen Elizabeth II is the world’s longest-ruling and oldest monarch but her personal fortune pales in comparison with royals of other countries. The late King of Thailand, Bhumibol Adulyadej, was worth around $30 billion before he died in 2016, according to a listing of the world’s 10 richest monarchs by Time.com in June 2015. The last in the Top 10 list, Qaboos bin Said al Said, Sultan of Oman, accumulated a net worth of around $700 Million, also more than Queen Elizabeth II’s personal fortune. (See second table of infographic)
Though outright comparisons with Philippine billionaires may be difficult considering that the estimates of the royals’ personal fortunes are somewhat dated, the numbers are telling nonetheless. The Philippines’ biggest billionaire, Henry Sy, with a net worth of $20 billion as of February 2018, was richer than nine of the world’s ten wealthiest monarchs. All of the country’s 10 richest billionaires were wealthier than at least two of the richest monarchs. (See third table in infographic).