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Here’s why Queen Elizabeth II’s wealth and to remain secret even in her death

Britain’s longest reigning monarch late Queen Elizabeth II, owner of the most exquisite collection including tiaras, crowns, expensive art work and palaces breathed her last on Sept 8.

Here’s why Queen Elizabeth II’s wealth and will remain secret even after death

During a legal battle over the will of Queen&rsquo;s younger sister, Princess Margaret, a court was told &ldquo;primary reason and purpose of sealing royal wills is to protect the privacy of the sovereign," as per the PTI report.

Britain&rsquo;s longest reigning monarch late Queen Elizabeth II, owner of the most exquisite collection including tiaras, crowns, expensive art work and palaces breathed her last on Sept 8. Amid speculations around the late Queen's wealth, it looks like the actual value of her wealth shall remain a secret for a long time. The will specifying how her wealth should be distributed will also be kept private.
Here&rsquo;s why the Queen's estimated wealth and will can not be made public.&nbsp;
Firstly, the wills of the sovereign, along with other members of the royal family have never been made public historically
Although, <a href="https://www.editorji.com/world-news/ex-pm-theresa-may-recalls-when-queen-elizabeth-ii-watched-her-every-move-1662788310297">Queen Elizabeth</a>'s wealth was calculated at 340 million pounds in 2015 by the &lsquo;The Sunday Times Rich List&rsquo;, with the major source of a British sovereign&rsquo;s personal money being the Duchy of Lancaster.
It is the sovereign&rsquo;s private estate, existing purely to give the reigning monarch an income: in the financial year ending March 31 it was valued at about 652 million pounds and generated a net surplus of 24 million pounds, the PTI report said.
According to news agency PTI, the British monarchy as a brand was valued at around USD 88 billion in 2017 by valuation consultancy firm Brand Finance, with Queen Elizabeth&rsquo;s personal wealth from investments, art, jewels and real estate estimated by Forbes to be worth around USD 500 million.&nbsp;
Also Watch| <a href="https://www.editorji.com/india-news/queen-elizabeth-death-demand-for-return-of-kohinoor-odisha-group-says-it-belongs-to-lord-jagannath-1663053374710">Queen Elizabeth death: demand for return of Kohinoor, Odisha group says it belongs to Lord Jagannath</a>
However, according to The Times report, it is believed that the sovereign&rsquo;s private estate would not even appear in the Queen&rsquo;s will as it is an inalienable asset of the Crown which will be simply passed from sovereign to sovereign.&nbsp;
Importantly, no inheritance tax is liable on the Queen&rsquo;s personal wealth due to a deal struck in 1993 with the then John Major-led government. As a part of the deal the Queen agreed for the first time to pay income tax, but it was stipulated that sovereign-to-sovereign bequests would be exempt from inheritance tax.
The Treasury Memorandum of Understanding on Royal Taxation, written in 2013, states: &ldquo;The reasons for not taxing assets passing to the next sovereign are that private assets such as Sandringham and Balmoral have official as well as private use and that the monarchy as an institution needs sufficient private resources to enable it to continue to perform its traditional role in national life, and to have a degree of financial independence from the government of the day."
During a legal battle over the will of Queen&rsquo;s younger sister, Princess Margaret, a court was told &ldquo;primary reason and purpose of sealing royal wills is to protect the privacy of the sovereign," as per the PTI report.
Besides, since the late monarch was the source of legal authority &ndash; her will does not have to be published like others. Also, many sources of the Queen&rsquo;s wealth do not fall in the category of her private property but are held in trust for future generations and will simply pass over to the next sovereign, now&ndash; <a href="https://www.editorji.com/world-news/watch-king-charles-quotes-shakespeare-in-first-speech-as-monarch-to-uk-parliament-1662986374544">King Charles III</a>.&nbsp;
Also Watch| <a href="https://www.editorji.com/world-news/queen-elizabeth-death-youth-heckles-prince-andrew-during-procession-1663057338761">Queen Elizabeth death: youth heckles Prince Andrew during procession</a>

A shocking report by Oxfam showed that a billionaire was created every 30 hours during the last 2 years and a million people fell into poverty at the same rate during the pandemic. Presenting the report as the world's elite gathered at Davos, Oxfam showcased 2,668 billionaires -- 573 more than in 2020 -- own $12.7 trillion, an increase of $3.78 tn. Data also revealed that the world's ten richest men own more wealth than the bottom 40 per cent of humanity or 3.1 billion people. In fact the richest 20 billionaires are worth more than the entire GDP of Sub-Saharan Africa.The development charity highlighting crisis profiteering said spiralling global food prices had helped create “62 new food billionaires” in just 24 months.
Oxfam also called for the introduction of permanent wealth taxes to “rein in extreme wealth and monopoly power”. The report urged governments should follow Argentina’s example and introduce a “one-off solidarity tax on billionaires’ pandemic windfalls”. The Argentinian tax raised 223bn pesos ($1.8 bn) last year.

1 new billionaire every 30 hours! Shocking Oxfam report highlights crisis profiteering

1 new billionaire every 30 hours! Shocking report highlights crisis profiteering

263 million people could be pushed into extreme levels of poverty in 2022 because of the pandemic

A shocking report by Oxfam&nbsp;showed that a billionaire was created every 30 hours during the last 2 years and a million people fell into poverty at the same rate during the pandemic.&nbsp; Presenting the report as the world's elite gathered at Davos, Oxfam&nbsp;showcased 2,668 billionaires -- 573 more than in 2020 -- own $12.7 trillion, an increase of $3.78 tn.
 Also read/watch|&nbsp;<a title="PM Modi arrives in Japan for two-day Quad summit. Here's what's on the agenda" href="https://www.editorji.com/india-news/pm-modi-arrives-in-japan-for-two-day-quad-summit-here-s-what-s-on-the-agenda-1653279147225">PM Modi arrives in Japan for two-day Quad summit. Here's what's on the agenda</a> Data also revealed that&nbsp;the world's ten richest men own more wealth than the bottom 40 per cent of humanity or 3.1 billion people. In fact the richest 20 billionaires are worth more than the entire GDP of Sub-Saharan Africa. The development charity highlighting crisis profiteering&nbsp;said spiralling global food prices had helped create &ldquo;62 new food billionaires&rdquo; in just 24 months.
Also read/watch|&nbsp;<a title="Petrol, diesel prices: 3 states reduce VAT after Modi govt's excise cut - Maharashtra, Rajasthan, Kerala" href="https://www.editorji.com/india-news/local/petrol-diesel-prices-3-states-reduce-vat-after-modi-govt-s-excise-cut-maharashtra-rajasthan-kerala-1653235911678">Petrol, diesel prices: 3 states reduce VAT after Modi govt's excise cut - Maharashtra, Rajasthan, Kerala</a>
Oxfam also called for the introduction of permanent wealth taxes to &ldquo;rein in extreme wealth and monopoly power&rdquo;. The report urged governments should follow Argentina&rsquo;s example and introduce a &ldquo;one-off solidarity tax on billionaires&rsquo; pandemic windfalls&rdquo;. The Argentinian tax raised 223bn pesos ($1.8 bn) last year.

Joe versus Jeff. Biden versus Bezos. Twitter turned into a battleground for two titans from politics and industry, as the founder of Amazon clashed with the US President.
It started with Joe Biden's tweet on May 14. The American President tweeted, "You want to bring down inflation? Let’s make sure the wealthiest corporations pay their fair share."
This statement greatly irked Bezos, who didn't waste much time in retorting, "The newly created Disinformation Board should review this tweet, or maybe they need to form a new Non Sequitur Board instead. Raising corporate taxes is fine to discuss. Taming inflation is critical to discuss. Mushing them together is just misdirection."
Amazon reportedly paid $3.7 billion in US taxes in 2021, while earning a global revenue of $469 billion.
Clashing with the President is nothing new for Bezos, who had quite a few run-ins with Biden's predecessor Donald Trump. Bezos owns the news outlet The Washington Post, and Trump tried to discredit their stories by claiming that Bezos has a vendetta against him.

Amazon founder vs Joe Biden: Jeff Bezos slams US President for linking inflation, wealth tax

Jeff Bezos versus Joe Biden: Amazon's founder objected to the US President's statement linking inflation control to higher taxes on wealthy corporations.

Joe versus Jeff. Biden versus Bezos. Twitter turned into a battleground for two titans from politics and industry, as the founder of Amazon clashed with the US President.
It started with Joe Biden's tweet on May 14. The American President tweeted, "You want to bring down inflation? Let&rsquo;s make sure the wealthiest corporations pay their fair share."
This statement greatly irked Bezos, who didn't waste much time in retorting, "The newly created Disinformation Board should review this tweet, or maybe they need to form a new Non Sequitur Board instead. Raising corporate taxes is fine to discuss. Taming inflation is critical to discuss. Mushing them together is just misdirection."
Amazon reportedly paid $3.7 billion in US taxes in 2021, while earning a global revenue of $469 billion.
Clashing with the President is nothing new for Bezos, who had quite a few run-ins with Biden's predecessor Donald Trump. Bezos owns the news outlet The Washington Post, and Trump tried to discredit their stories by claiming that Bezos has a vendetta against him.

Amid concerns of growing income inequality due to the effects of the Covid-19 pandemic, a survey shed light on the number of millionaire households in India's major cities.
Mumbai reportedly topped the list with 20,300 households having a net worth of at least Rs 7 crore. Delhi came second with 17,400 and Kolkata third with 10,500 millionaire households.
ALSO WATCH | Oxfam study: wealth of India's 10 richest enough to fund education of every child for 25 years
These are the findings part of the Hurun India Wealth Report 2021.
The survey said that the number of dollar-millionaire households in India has risen by 11% to 4.58 lakh, as compared to the previous year. Hurun India expects this number to rise 30% over the next 5 years, to reach 6 lakh households.
Last month, Oxfam reportedly said that the number of billionaires in India grew from 102 to 142 in 2021, even as the income of 84% Indian households declined. The Oxfam report had said that in 2021, the collective wealth of India's 100 richest people hit a record high of Rs 57.3 lakh crore, while the bottom 50% of the Indian population possessed 6% of national wealth.

Survey of India's $ millionaire households with Rs 7 crore net worth: Mumbai, Delhi, Kolkata top list

The Hurun report said that the number of dollar-millionaire households in India has risen by 11% to 4.58 lakh, as compared to the previous year.

Amid concerns of growing income inequality due to the effects of the Covid-19 pandemic, a survey shed light on the number of millionaire households in India's major cities. Mumbai reportedly topped the list with 20,300 households having a net worth of at least Rs 7 crore. Delhi came second with 17,400 and Kolkata third with 10,500 millionaire households. These are the findings part of the Hurun India Wealth Report 2021. The survey said that the number of dollar-millionaire households in India has risen by 11% to 4.58 lakh, as compared to the previous year. Hurun India expects this number to rise 30% over the next 5 years, to reach 6 lakh households. Last month, Oxfam reportedly said that the number of billionaires in India grew from 102 to 142 in 2021, even as the income of 84% Indian households declined. The Oxfam report had said that in 2021, the collective wealth of India's 100 richest people hit a record high of Rs 57.3 lakh crore, while the bottom 50% of the Indian population possessed 6% of national wealth.

<div style="margin: 0px; padding: 0px; border: 0px; font-style: inherit; font-variant: inherit; font-weight: inherit; font-stretch: inherit; font-size: 12pt; line-height: inherit; font-family: Calibri, Arial, Helvetica, sans-serif; vertical-align: baseline; color: #000000; background-color: #ffffff;"><span style="margin: 0px; padding: 0px; border: 0px; font-style: inherit; font-variant: inherit; font-weight: inherit; font-stretch: inherit; font-size: 12pt; line-height: inherit; font-family: inherit; vertical-align: baseline; color: #000000; background-color: #ffffff;">The Hurun report said that the number of dollar-millionaire households in India has risen by 11% to 4.58 lakh, as compared to the previous year.</div>

Amid concerns of growing income inequality due to the effects of the Covid-19 pandemic, a survey shed light on the number of millionaire households in India's major cities.
Mumbai reportedly topped the list with 20,300 households having a net worth of at least Rs 7 crore.&nbsp;Delhi came second with 17,400 and Kolkata third with 10,500 millionaire households.
ALSO WATCH | <a href="https://www.editorji.com/india-news/oxfam-study-wealth-of-india-s-10-richest-enough-to-fund-education-of-every-child-for-25-years-1642387088278" target="_blank">Oxfam study: wealth of India's 10 richest enough to fund education of every child for 25 years</a>
These are the findings part of the Hurun India Wealth Report 2021.
The survey said that the number of dollar-millionaire households in India has risen by 11% to 4.58 lakh, as compared to the previous year.&nbsp;Hurun India expects this number to rise 30% over the next 5 years, to reach 6 lakh households.
Last month, Oxfam reportedly said that the number of billionaires in India grew from 102 to 142 in 2021, even as the income of 84% Indian households declined.&nbsp;The Oxfam report had said that in 2021, the collective wealth of India's 100 richest people hit a record high of Rs 57.3 lakh crore, while the bottom 50% of the Indian population possessed 6% of national wealth.

Jeff Bezos of Amazon may be the reigning man of the riches in the world currently, but he has nothing on the 14th century West African ruler Mansa Musa. Historians have found it impossible to pin down the number of his actual wealth. The ruler of Mali is believed to have had the half of the old world's gold alone. According to historians, the ruler had so much wealth that his generous handouts had wrecked an entire nation's economy. 

Jeff Bezos of Amazon may be the reigning man of the riches in the world currently, but he has nothing on the 14th century West African ruler Mansa Musa. Historians have found it impossible to pin down the number of his actual wealth. The ruler of Mali is believed to have had the half of the old world's gold alone. According to historians, the ruler had so much wealth that his generous handouts had wrecked an entire nation's economy. 

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