(CNN Spanish) — The British royal family has many sources of income, but they are not as rich as you might think.

The personal fortune of Queen Elizabeth II, Died at the age of 96Respected by The Sunday Times 370 million pounds ($462 million), a small figure compared to the fortunes of the world’s richest people.

For example, Elon Musk has a net worth of over $262 billion, according to Realtime Rankings. Forbes Among the richest people in the world.

However, the Queen had her own estates, including Balmoral Castle in Scotland and Sandringham Estate in the east of England. Both inherited from his father.

But his wealth goes beyond real estate. The Queen also owned a valuable stamp collection, numerous works of art and a portfolio of stocks.

Other properties closely associated with the Queen, including the Crown Jewels and many works of art, are actually owned by a charity called the Royal Collection Trust.

But how did Queen Elizabeth II make money?

The Queen (and her heir to the throne, Prince Charles) derives most of her income from the government and her private estates.

The monarch’s three main sources of income are the Sovereign Grant, her inheritance from the Duchy of Lancaster, and her personal properties and investments.

The Sovereign Grant, the government’s annual lump sum, is an expense account that covers travel expenses, security, staff and maintenance of royal palaces.

The Queen received 85.9 million pounds ($107 million) tax-free from the Sovereign Grant In the financial year 2020-2021.

The Sovereign Grant is created from the Crown Estate, a collection of UK properties and farms that generate hundreds of millions of pounds each year. Most of the crown estate’s profits go to the government coffers, but a portion of the profits, between 15% and 25%, is paid to the monarch as a sovereign grant.

Another major source of income for the king was the Duchy of Lancaster, a series of commercial, agricultural and residential estates dating back to 1265. It earned the Queen a net income of 22.2 million pounds ($27 million). In the latest financial year.

The Queen used this money for official and personal expenses, including some expenses incurred by other members of the Royal Family carrying out official duties on her behalf.