Following his death at the age of 99, many are wondering what Prince Philip‘s net worth is and who may inherit his fortune. Not unlike his wife and monarch, Queen Elizabeth II, it’s safe to say that the Duke of Edinburgh amassed a great deal of wealth over his lifetime. Below, we dive into what might happen to it now that he is no longer with us— but first, read on for a bit of background on the Iron Duke himself.
Long before he became the Queen’s husband, Philip was already born into royalty as the Prince of Greece and Denmark. His parents, Prince Andrew of Greece and Denmark and Princess Alice of Battenberg, were in line for the Greek throne until they were exiled when he was only eighteen months old. Together they fled with his four eldest sisters, Princesses Cecilie, Margarita, Sophie, and Theodora, to France. There, Philip was educated in Paris (and later Germany and the United Kingdom) before eventually joining the British Royal Navy in 1939 at the age of 18.
By March of 1939, Philip was a naturalized British citizen and adopted the last name Mountbatten from his mother’s family, otherwise abandoning his Greek and Danish royal titles. It was in that year he also began exchanging letters with Queen Elizabeth, who he would later go on to marry in 1947.
On the eve of their wedding, Lieutenant Mountbatten was formally named Duke of Edinburgh, Earl of Merioneth, and Baron of Greenwich, and given the title of His Royal Highness. As well as inheriting these royal titles, Prince Philip went on to amass a wide range of assets and money alongside his wife, the Queen. So how much was Prince Philip’s net worth, exactly? Read on below for Prince Philip’s net worth, along with what could happen to his estate following his death at the age of 99 in April 2021.
What was Prince Philip’s salary?
As the Queen’s husband, Prince Philip earned a royal allowance from the Sovereign Grant, an official expense account paid for by British taxpayers, of around $500,00 (or £400,000) per year. While it’s unclear if Philip continued to receive this allowance following his retirement from official royal duties in 2017, he still maintained access to funds earned by a private portfolio of properties, lands, and assets set up by the Duchy of Lancaster in 1399. As the Queen, Her Majesty also maintains a private income from the Duchy of Lancaster estate.
Together, the couple is also believed to share a portfolio of stocks and land inherited by the Queen’s family, such as Balmoral Castle in Scotland and Sandringham Estate in England.
Who will inherit Prince Philip’s estate?
As most of Prince Philip’s estate was shared between him and the Queen, it is likely that Her Majesty will continue to hold onto Philip’s assets following his death. The royal couple also shares four children—Prince Charles, 72, Princess Anne, 70, Prince Andrew, 61, and Prince Edward, 57. As Philip’s children, they are also likely to inherit a share of his assets.
What is Prince Philip’s net worth in 2021?
At the time of his death in April 2021, Prince Philip reportedly had a net worth of around $30 million, or £24 million, according to Celebrity Net Worth.