The British royal family’s annual Sovereign Grant spending report was released Thursday, showing that the royals spent around $27 million more than they received from April 2022 through March 2023.
Royal spending increased by 5% from 2021-22, as The Firm dealt with massive transitions, including Queen Elizabeth II’s death and King Charles III’s rise to the throne.
The royals received $109 million from the taxpayer-funded Sovereign Grant and earned an additional $12 million, according to the report. However, they spent a whopping $148 million on official appearances and work, leading to the deficit.
