Image: Prince Harry and Megan’s carriage procession passing through the city of Windsor on May 19, 2018. Source: Rondisland, CC BY 3.0, Via Wikimedia Commons
This last entry in our series focuses on a group of that rare people who are filthy and rich.There aren’t many people in this category, but they differ from the people featured in Part 1 When part 2 stand out.
Start with the wealthiest people in the world. No, it’s not JK Rowling, Donald Trump, Paul McCartney, Michael Bloomberg, Bill Gates, Warren Buffett, Jeff Bezos, or Carlos Slim. The wealthiest person in the world is Queen Elizabeth II. surprised? read!
Queen Elizabeth doesn’t want anything. She lives in many servants, guards, cars, drivers, chefs, planes, jewelry, 19th century carriages and many other rich palaces. No one else on the planet can match her luxury.
If you’re surprised that she’s ranked number one, consider the following facts:
Queen Elizabeth may not be listed as the owner of various properties. They may be shown as belonging to a crown or people, but she uses and controls them. She doesn’t pay taxes. And if someone tries to rob these vast possessions, they will not succeed. In official view, Queen Elizabeth II does not own Buckingham Palace. She lives only there. The 775-room house is nominally Crown Estate..
It would be difficult to estimate the economic value of a palace belonging to a monarchical British monarch. They do not tend to hit the market. In addition to the palace, she owns half of Regent Street and many other major locations, including many outside the UK, including some in New York City.
The Queen’s relatives live tax-free in a series of royal territories throughout the territory in the life of a modern castle without a moat. The pure range of people involved and land ownership isolates the Queen from criticism and from the serious efforts to chop the British royal family to size.
The Queen is also free from criticism from elected officials. Parliamentarians sign the Pledge of Allegiance. This requires professing loyalty to the monarch. New citizens also make vows. The press may have the freedom to criticize the royal family and make fun of it — consider the treatment of Charles and Camilla’s tabloids — but members continue to hesitate to address the Queen’s wealth problem. The royal family and the occasional unique personal customs provide ample material for tabloids.
Modern wealth, not medieval
The wealth of the royal family and relatives / friends is not medieval. Some warn their oversized property. Their wealth extends far beyond their ancestors and is far safer. Not to mention the king’s wife, the king was sometimes bowed. British royalty today is completely isolated from harm. It is estimated that British aristocrats and gentlemen still own 30% of the land, potentially 47% remaining in hereditary aristocratic estate. This is due to Guy Shrubsole, whose 2019 book scrutinized the details and generated sharp criticism from royal enthusiasts.
Keep in mind that Bill Gates has to pay taxes to see the Queen’s immense wealth — at least some taxes.
Jeff Bezos needs to approve Amazon’s annual report and consider paying dividends. Elon Musk needs to drive Tesla and smile. The President of the United States cannot approach the Queen’s wealth. The recent president is deeply immersed in the pool of wealth, but consider this historic note. After the inauguration of Dwight Eisenhower in 1953, shortly before the coronation of Queen Elizabeth II, Harry and Best Ruman returned the car to Independence, Missouri. A few years later, they ran out of money.
Recognize that power is not entirely related to wealth. Compared to Queen Elizabeth, the wealth of billionaire Donald Trump is waning, and he is certainly unaffected by criticism.
Myth Buster once traveled to Canada, and hotel staff told him that the Queen was there the previous week. They marveled at her famous golden toilet seat. I had to remove it when she left.
Meghan and Prince Harry show that they are truly noble in terms of gaining and retaining wealth. Isolated from invoice payments and employment due to huge holdings, their reported wealth has already exceeded $ 50 million. The “departure” of their royal family was ugly, but don’t be surprised if somehow a huge amount of capital is transferred to them. The public claim is that they are “financially independent.” It’s hard to believe. If they visit the palace immediately, or if the visitor arrives in California, it is advisable to check the lining of the luggage that will not be opened by customs.
Megan and Harry also reveal more financial “luck” than anyone else. They have signed a favorable deal with Spotify and Netflix. They invested in Clevr Blends, an oat milk latte startup. Disney and Apple are tracking the movements of former royalty. Financially, their futures are set. Henry VIII will be jealous. So are Bill Gates, Felipe VI, and King Willem-Alexander.
The final idea is: Queen Elizabeth II doesn’t even have to think about money or taxes. She really goes beyond such worries.
Myth Buster hopes you enjoyed this series. This myth holds up well. Thank you, Jonathan Swift. The gambling fraud approach shows many gaps. Wealth does a better job of exhibiting itself like a bright pocket handkerchief and straw hat than offering real cash and relief from worry. Of course, cash is the king. This series shows that being a king (or queen) means being rich. Next month, Myth Buster will move on to another series.
Michael McTague, Ph.D. He is the Executive Vice President of Able Global Partners in New York, a private equity firm.
Equity Contributor: Michael McTague, Ph.D.
sauce: Equity news
The views and opinions expressed in this article belong to the author and are not necessarily the same. equities.com.. Readers should not consider the author’s remarks as a formal recommendation and should consult with a financial adviser before making an investment decision. To read the full disclosure, please visit: http://www.equities.com/disclaimer..