The Queen and her son receive income from inheritance dated back to 1265 and 1337.  This is more than 700 years ago!

The private empire of property, land and investments began as an inheritance in 1265, and is one of several sources of funding for the monarchy.  Her household will receive £16 million ($24.8 million, 22.3 million euros) this year, a rise of 18 percent from the previous year, according to accounts released by the Duchy of Lancaster.

The queen will also receive £40 million from the proceeds of the semi-independent Crown Estate, which is paid through the British government, which covers the cost of running the queen’s household as head of state, while the Duchy of Lancaster pays for Elizabeth’s private expenses and the upkeep of her family.  She also is not required to pay tax, but has contributed an unknown amount since 1993

The Duchy includes blocks of property in central London, ten castles, as well as farmland, homes, quarries, golf courses and commercial premises across England and Wales.  Her son and heir to the throne, Prince Charles, has his own large private estate dating from 1337 to support him – the Duchy of Cornwall – AFP

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