The Queen’s personal income, derived from her personal investment portfolio and private estates, is used to meet her private expenses.

The Queen owns the Balmoral and Sandringham Estates, which were both inherited from her father.

Estimates of The Queen’s wealth often mistakenly include items which are held by her as Sovereign on behalf of the nation and are not her private property. These include the official Royal residences, the majority of art treasures from the Royal Collection and the Crown Jewels. The Queen cannot sell these – they must pass to her successor as Sovereign.