Being royalty has its perks and wealth is one of them. However, rumor has it that having big bucks is a privilege that the British Royal Family might lose soon. Is Queen Elizabeth's net worth dwindling by the minute?
The headline of Globe Magazine's July 20 issue claimed so. With the headline "It's Official: The Royals Are BROKE!" the cover showed pictures of Queen Elizabeth as well as Prince Charles, Prince William, Kate Middleton, and Camilla Parker-Bowles.
The cover also teased "Elizabeth: Lost control of $12B fortune," "Harry: Blew $15M inheritance on drugs, booze, and women," "Charles: Can't afford $400M divorce," and "William: Forced to take a $60K a year job."
Last year, NBC News has reported that Queen Elizabeth only had $1.6 million left in financial reserves after the royal household purportedly overspent on its budget in 2013, citing a report by British lawmakers.
"The household needs to get better at planning and managing its budgets for the longer term -- and the Treasury should be more actively involved in reviewing what the household is doing," Margaret Hodge, the member of parliament who chairs the Public Accounts Committee reportedly said then.
"The Household must get a much firmer grip on how it plans to address its maintenance backlog."
The Queen may be one of the most famous royalties in the world, but popularity may not directly convert to net worth.
According to New York Daily News, Queen Elizabeth's savings used to be as big as $58 million. Her financial reserves going down to $1.6 could have shrinked her net worth significantly.
In 2015, Queen Elizabeth was listed as the 41st most powerful woman on the world by Forbes Magazine. Her profile lists investments and real estate as sources of income. Aside from net worth, Forbes also considers influence in coming up with a list of the world's most powerful women.
