Royals made almost £2m from sale of horses received as gifts from prominent figures
King Charles III and his late mother, Queen Elizabeth II, appear to have made almost £2m from the sale of horses that were gifts from prominent figures.
The Guardian has identified more than 40 horses that were apparently given to the queen by a Dubai sheikh, a Muslim religious leader and a Saudi royal.
Some of the horses were sold for profit by the queen, who was a passionate enthusiast for breeding and racing thoroughbreds. Others have been auctioned by the king, who in recent months has been selling some of the horses inherited from his mother, which are estimated to be worth at least £27m.
Cost of the crown is an investigation into royal wealth and finances. The series, published ahead of the coronation of King Charles III, is seeking to overcome centuries of secrecy to better understand how the royal family is funded, the extent to which individual members have profited from their public roles, and the dubious origins of some of their wealth. The Guardian believes it is in the public interest to clarify what can legitimately be called private wealth, what belongs to the British people, and what, as so often is the case, straddles the two.
• Read more about the investigation
The queen’s most generous provider of racing and breeding stock by far is Sheikh Mohammed bin Rashid al-Maktoum, the emir of Dubai and prime minister of the United Arab Emirates. He appears to have been the source of at least 34 horses given to the royals.
The Aga Khan, Prince Shah Karim al-Husseini, the spiritual head of Shia Ismaili Muslims, appears to have given the royal family five horses, including Estimate, who gave the queen one of her most memorable victories on the track, in the 2013 Gold Cup at Royal Ascot.
The queen also received a horse
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