THE WORLDPOST
06/27/2013 01:32 am ET Updated Aug 26, 2013

Queen Elizabeth's Income Rises To Nearly $58 Million Due To Crown Estate Fund Profits

Queen Elizabeth will see her income rise from £36.1 million to £37.89 million (nearly $58 million) in 2014 due to an increase in profits of the Crown Estate fund from which she is paid, the Sovereign Grant said.

The grant, which provides the monarch's spending as Head of State, is calculated as a percentage of profits from the estate, which includes properties such as Windsor Park.

The estate is now valued at £8.1 billion after announcing profits of £252.6 million on Thursday.

Some of the profits are diverted to the treasury to supplement government finances.

Although Crown Estate manages the Crown's portfolio, it does not own the private property of the queen.

"[Thursday's] results are a ringing endorsement of the quality of our portfolio, our active asset management and our highly skilled team," said Alison Nimmo, chief executive of the Crown Estate.

"Despite challenging market conditions, we are well placed as a business with a clear vision and investment strategy, great partners and a strong balance sheet."

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