Hugh Grosvenor, 19, Westminster’s Duke, holds the status of being the wealthiest among the richest in the U.K. He became a successor to his father and acquired the family assets after his dad, Gerald Cavendish Grosvenor, died.
He has family terms with the Royal Family. Additionally, he is a humanitarian and, as of late, has donated a hefty sum of $15.6 million for providing relief against COVID-19. His donation will bolster the U.K.’s NHS, clinical research and will provide food to those in need. Hugh is by far the wealthiest person on earth who has not hit the mark of 30 yet. His net worth is more than that of Queen Elizabeth.
The Queen’s means of income
The Queen’s salary and total assets come to some degree from the Sovereign Grant and Crown Estate. Crown Estate is the property of the ruling Monarch and encompasses real estate properties, just like Buckingham Palace. “British Treasury” also pays for Queen’s expenses related to the official discharge 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, and 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. Grosvenor acquired the money and title from a trust set up by his distant family some 400 years ago.
Grosvenor’s family has an influence over 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. Hugh Grosvenor claims more properties than 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
His late father shared his fundamental goal as a father was to show his child self-discipline and to each him a sense of duty.
His family motto is also in line with his father’s goal: Virtus non stemma, which implies Virtue, not lineage. Sovereign Elizabeth has a personal worth of $600 million, which is nothing to wheeze at because Hugh Grosvenor owns assets amounting to $12 billion.