How The Queen's Estate Is Being Dragged Into A Huge Controversy
Queen Elizabeth II has sat on the British throne for 69 years, serving as the country's longest-reigning monarch. Throughout the decades, she has acquired several different homes and real estate locations outside of the well-known Buckingham Palace. According to Town & Country, the queen resides in at least six known locations — ranging from her summer home of Balmoral Castle and entertaining home of Sandringham Estate to Holyrood Palace in Scotland and Ireland's Hillsborough Castle.
The queen, among other royals, earns money to obtain new residencies through the British government's Sovereign Grant, according to Oprah Daily. This also includes the cost it requires to maintain each property. According to the Sunday Times, Queen Elizabeth's 2020 net worth was £365 million (or nearly $500 million, per exchange-rates.org). One of her more recently purchased properties, which cost about $91 million, per Business Insider, has landed Queen Elizabeth's estate in some controversial waters. Here's why.
Queen Elizabeth's estate purchased property from a possibly corrupt leader
According to the BBC, new documents dubbed the "Pandora Papers" (leaked documents that showcase "secret wealth and dealings of world leaders, politicians, and billionaires") have connected a purchase made by Queen Elizabeth's estate in 2018 to a controversial government leader. Per the outlet, the queen's estate purchased a London property from Azerbaijan president Ilham Aliyev. He made a £31 million (just above $42 million) profit from the sale. The country's president is stated to have participated in looting his own people. He is also suspected of gaining £400 in other U.K.-connected property sales.
After the controversial news leaked and gained traction at news publications, the crown's estate spokesperson clarified to Business Insider what they are currently doing about it. "At the time we did not establish any reason why the transaction should not proceed. Given the potential concerns raised, we are looking into the matter," the unnamed spokesperson said. Queen Elizabeth II herself has yet to speak out about the sale, but it appears that there will at least be an investigation into the matter.