Royal relatives, even those distantly related to the throne, continue to financially benefit from a £19 million trust fund established by the late Queen Mother, according to royal author Norman Baker.
Baker stated in an interview with the Daily Mail that individuals such as Sam Chatto, the grandson of Princess Margaret, are able to live without significant financial concerns due to accumulated gifts from the Queen Mother. "There may be a strong wish among the public for a slimmed down monarchy but the Windsor tentacles stretch far and wide," Baker commented, referring to the extensive reach of royal wealth. "And so does the royal wealth."
Chatto, 29, is identified as one of the beneficiaries of the trust, which was reportedly set up in 1994 by the Queen Mother. The fund was intended to be tax-efficient and provide financial security for her great-grandchildren.
According to Baker, the Queen Mother received substantial financial support from taxpayers, amounting to £643,000 annually. She also accumulated significant wealth through public gifts, including the Castle of Mey in Scotland, which she purchased for a nominal sum. Baker also noted that she reportedly paid her staff meager wages and offloaded expenses onto the taxpayer.
While the notes suggest the fund was intended for distribution among her grandchildren, with payments anticipated on their 21st and 40th birthdays, a former palace aide mentioned to The Times in 2024 that the trust was established to set aside money for her great-grandchildren's future and to pass down a portion of her estate in a tax-efficient manner.
The Queen Mother's financial habits were notable, including an overdraft of £7 million at Coutts, a fondness for champagne and fine dining, and ownership of expensive racehorses. She maintained five homes, often with full-time staff, and a large personal retinue of approximately 80 employees. Her lifestyle involved elaborate arrangements, such as ensuring flowers and produce were ready for her visits to her various residences.
