The Queen's Going to Get $58 Million For Pointing and Waving at Some Crap Next Year
That's right Her Majesty Elizabeth the Second, by the Grace of God of the United Kingdom of Great Britain and Northern Ireland, and of Her other Realms and Territories Queen, Head of the Commonwealth, Defender of the Faith and Grandmother-To-Be stands to make $58 million next year. Well she certainly must have done something to earn all that money, you say, staunch capitalist that you are. A quick search of Getty reveals that in the past week QE2 has hosted a reception for the first Queen Elizabeth Prize for Engineering and attended the Royal Ascot which is a British celebration of elaborate hats -- there's some horse racing too. Presumably the Queen has also walked her corgis and maybe stared at a stag, but that's it. That's all she's done in seven days. Were it next year, she'd have made about $1.12 million for that.
How, then, did she make all this Oprah money? Well, the Crown Estate, which manages real estate properties owned by the monarch posted a record profit last year of $387.2 million -- a 5 percent increase. The Queen's annual salary comes out of the Crown Estate's profits using a strange formula. As CNN reports:
The queen is then paid a grant each year by the Treasury equal to 15% of the profit from two years before. That means the monarch, who celebrated 60 years on the throne last year, will receive income of nearly 38 million pounds [ed: about $58 million] next year, according to the estate's annual report, released Thursday.Grammy Liz is sure going to be able to afford lots of snow globes for the royal fetus.