No one ever thought it was cheap to raise a kid ... especially a royal little prince. So how much will it cost to raise the third in line to England's throne, HRH George Alexander Louis? Four experts joined HuffPost Live's Caitlyn Becker to weigh in.
The royal heir certainly won't need to worry about expenses down the line, President of Wealth-X David Freeman explained. "Queen Elizabeth -- we put her net worth at $660 million, followed by Prince Charles who we have at around $370 million. So if you just add those two figures together, you come close to around a billion dollar figure. So the exciting part for this young baby who was just born is that he's already got waiting for him a huge inheritance opportunity around a billion dollars."
And while the couple claims to not want a large staff in the traditional, royal sense, opting instead for someone who can both take care of the child and walk the dog, the cost of raising the child will still come from government resources. Charlie Jacoby, an expert on the royal family, confirmed, "It's paid for out of the Crown Estates. The Crown Estates are hundreds and hundreds of thousands of acres of lands, buildings, properties, and other works of art ... which earns an income every year and they get a proportion of that."
"36 million pounds -- that's how much the government is going to be giving the royal family as a whole for the next year," added Coco Khan, editor of The Kensington & Chelsea Review.
Well that's a far cry from the average American family's expenditures estimated at $250,000 over 17 years. Not all bad growing up royal ...
For more on this discussion, watch the full segment below:
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