If Queen Elizabeth goes on a hat-buying binge this weekend, we’ll know why. Despite Britain’s ongoing recession, the still-Jubileeing royal will receive a whopping 20 percent raise, bringing her annual salary to $56 million. The source of Libby’s riches (we call her Libby because she waved right at us once) is the thriving Crown Estate, a collection of properties that include shops in some of London’s swankiest areas.
The Crown Estate gives all of its profits to the country’s finance ministry; under new laws, the queen’s cut will be 15 percent of the estate’s profits from two years ago. It’s complicated but necessary, ensuring that her haul will “rise and fall” with the British economy. Regardless, that’s a sh*tload of pastel outfits.