Hugh Grosvenor, the 29-year-old Duke of Westminster, holds the status of being the wealthiest among the richest in the United Kingdom. He became the successor of his father and acquired the family assets after his dad, Gerald Cavendish Grosvenor, died. The aristocrat, who is the godfather of Prince George, has a special friendship with the Royal Family.
Additionally, he is also a humanitarian, and as of late, has donated a hefty sum of $15.6 million for providing relief to fight against COVID-19. His donation will support the U.K.’s NHS, clinical research, charities giving food to those in need—especially the kids who normally got free meals at school.
Hugh is by far the wealthiest person on earth who has not hit the mark of 30 yet. In fact, his net worth is more than that of Queen Elizabeth!
The Queen’s means of income
To some degree, the Queen’s salary and total assets come from the Sovereign Grant and Crown Estate, which is the property of the ruling Monarch. It also encompasses real estate properties, just like Buckingham Palace.
The British Treasury pays for the Queen’s expenses that are related to the official execution of her duties, including travel, entertainment, and maintenance of different mansions and properties.
The Sovereign Grant is calculated as 15% of the total profit generated by the Crown Estate. The amount cannot be less than the grant paid the year before, regardless of whether the Crown Estate had an awful year. Also, the amount paid is exempted from any kind of tax.
The Queen might be the richest one among her family, but her wealth is no match for Hugh Grosvenor. The young Duke acquired his money and title from a trust set up by his distant family around 400 years ago.
The Grosvenor family has influenced England since 1622 when Richard Grosvenor was given the title of Baroness of Eaton. Fundamentally, this title is granted to influential families of England, and this doesn’t mean that they have any claim over the throne.
However, Hugh claims more properties than the Queen of England, including a shopping center, an art collection, and strangely, the land that the American Embassy is built on. He also inherited domains in Belgravia and Mayfair.
Virtus non stemma
Hugh’s late father had shared his fundamental goal as a parent, and it was to teach his child self-discipline as well as a sense of duty. The family motto of the Grosvenors is also in line with his father’s goal: Virtus non stemma, which simply means virtue, not lineage.
While Queen Elizabeth has a personal net worth of $600 million, it somehow seems like nothing as opposed to Hugh Grosvenor’s assets amounting to $12 billion.