A 1993 deal with the government exempts British Royals from paying inheritance taxes

Estate taxes are paid out of the estate, while inheritance taxes are paid by beneficiaries

When a person dies, any estate taxes owed are paid out of their finances before being transferred to their beneficiaries—unlike inheritance taxes that are paid by the beneficiaries themselves. In addition to a federal estate tax, 12 states and the District of Columbia have a state estate tax with varying rates.

Why the British royal family changed its name

Before 1917, British royals didn’t have last names—only dynastic titles. But during World War I, anti-German sentiment led King George V to replace “Saxe-Coburg-Gotha” with “Windsor.” In 1960, Queen Elizabeth II added “Mountbatten” for some descendants, but the rule isn’t binding—future monarchs can change it.

Gifting money is one way to avoid death taxes

Gifting money while you're alive is one way people avoid estate and inheritance taxes. There is a yearly cap on how much you can give to a person before that money is taxed—but there isn't a cap on how many people you can give money to in a year.

See how the federal estate tax has changed in the 21st century

In 2001, the government passed an act to completely repeal the tax. It was overturned in 2010. In 2017, the government increased the exemption threshold so fewer people would have to pay into the tax. In 2025, the exemption threshold was permanently set to $15M.

Certain trusts can bypass estate taxes—but the terms can't be changed

Putting money and other financial assets in an irrevocable trust is one way to avoid estate taxes. There are some cons to this trust, like the fact that you can't change the terms of the trust or assets in the trust after they're set. But a big pro is that any financial assets in an irrevocable trust aren't considered part of your estate, meaning they aren't subject to death taxes.

The story of the first British royal visit to the US in 1939

Amid pre-World War II diplomatic efforts in June 1939, King George VI and Queen Elizabeth I (not her better-known daughter, Elizabeth II) became the first reigning British monarchs to visit the US—163 years after the colonies declared independence from Great Britain. The five-day meeting began with two formal days in Washington, DC, before concluding at FDR's estate in Hyde Park, where the monarchs reportedly enjoyed hot dogs for the first time.

In 1931-32, JP Morgan Jr. paid no income taxes due to his company’s losses

This legally reduced his taxable income under existing laws. Similarly, the Rockefellers leveraged charitable foundations to minimize taxes, allowing them to preserve wealth while directing funds to their preferred causes.

One hundred rare, vintage photos of the British royal family

Their power may be in symbol only, but the Royal family commands our attention anyway. Take a look through the last few decades at some of the more choice, unknown shots of the Royal family, from Queen Elizabeth II to King Charles III.

Warren Buffett paid a lower effective tax rate than his secretary

While wages and salaries are taxed progressively at rates up to 37%, long-term investments are taxed at lower rates: 0%, 15%, or 20%. For wealthy individuals like Buffett, whose income mainly comes from investments, this means paying a lower effective tax rate than someone earning a salary.

England changed to an organ donation opt-out system in May 2020

A law that went into effect in May 2020 in England changed the country's organ donation regulations, reflecting public support for organ donation. Now, adults are typically presumed to have agreed to donate their own organs upon death unless they declare they're refusing to donate organs (or their family opts them out).

In the UK, foreign sovereign wealth funds can claim diplomatic immunity

In 2025, a court in London found that sovereign wealth funds and their executives can claim diplomatic immunity in legal cases, given the funds' foreign ownership and their role in the private sector. The ruling furthered speculation about the ethics of these funds, particularly from countries accused of human rights violations.

Annuitants have to pay income taxes on the annuity payments they receive, unless their annuities are folded into a Roth IRA

In most other cases, annuities grow tax-deferred until annuitants start to receive payments. Those payments are then taxed as regular income. Nonqualified annuities, which are bought with after-tax dollars, have different rules.

See the list of monarchs who have addressed a joint session of the US Congress

Only 11 monarchs have ever addressed a joint meeting of Congress, beginning with Hawaii's King Kalakaua in 1874. King Charles III of the United Kingdom became the most recent in April 2026.

How the British Empire transformed into today’s voluntary Commonwealth of Nations

This video explains how former British colonies—now independent states—evolved into the modern Commonwealth, a loose association representing nearly one-third of the world’s population. It traces the shift from imperial rule to a cooperative forum with no legal obligations to Britain or its monarch.

'The true measure of all our actions is how long the good in them lasts.'

- Queen Elizabeth II (1926-2022)

Britain extracted nearly $45T from India during colonial rule

Between 1765 and 1938, Britain drained an estimated $45T in today’s dollars from India through taxes, resource extraction, and coerced trade—wealth that helped Britain’s economic rise while contributing to widespread poverty in the colony.

Learn about the Beatles song 'Taxman,' which was inspired by Britain's tax structure

In the US, many people think of the IRS as the "taxman"—but the Beatles song is actually about the tax structure in the UK at the time. George Harrison wrote the song when he realized that even though the Beatles had started earning money, "we were actually giving most of it away in taxes," as he wrote in his autobiography.

Less than a third of wealth transfers to the second generation

Just 12% of family wealth reaches the third generation, and 3% makes it to the fourth. Family offices work to prevent that kind of attrition and ensure family fortunes are passed to the next generation.

Elizabeth I removed her eyebrows to draw attention to her chest

The queen thought that this kind of grooming (which sometimes even included shaving some of her forehead) would cause viewers to find her face blank and, as a result, look south to her breasts.

Watch a long, personal interview with Prince from 1999

Prince often avoided press junkets, especially after he became a superstar. In 1999, though, in advance of a televised New Year's Eve concert, he sat down for a lengthy interview with Larry King, speaking about his childhood, career, and his conflicts with Warner Bros. He noted that it was uncharacteristic for him to spend so much time reflecting. "As I go through this journey, I don't look back much at all," he told King. "I try to stay in the now and live in the now."

Some believe Princess Diana's fatal car crash in 1997 was planned

The tragedy that killed the Princess of Wales; her partner, Dodi Fayed; and their driver, Henri Paul; in Paris has been the subject of popular conspiracies. Diana, known to have a difficult relationship with the royal family, was believed by many to have been the victim of a murder plot.

Why physiology and genetics prevent king bees from existing

The mating process is fatal to male honey bees, as their endophallus detaches from their bodies and remains temporarily within the queen. Because fertilized honey bee eggs develop into female bees, if a male somehow did survive and become king, his line of succession would also abruptly end.

This year's highest-paid dead celebrities

Forbes unveiled the list of 13 highest-paid dead celebrities. For the first time ever, the top five people in Forbes 2022 list of highest paid dead celebrities, have made more than $100 million each

In 1215, the Magna Carta declared that even the king was not above the law

Forced on King John by rebellious barons, the Magna Carta established limits on royal power and the principle that rulers are subject to law. Discover how this foundational text later influenced the development of constitutional government and modern human rights traditions.

The Smithsonian was first funded by a man who never visited the US

The Smithsonian Institution was established through a gift in the will of James Smithson, a British scientist who never visited America but left his fortune to establish an institution dedicated to the "increase and diffusion of knowledge."

The first line of 'immortal' human cells, which can divide indefinitely and are used in scientific research, was nonconsensually taken from a Black woman.

Against his wishes, Albert Einstein's brain was removed before his cremation, and the pathologist responsible stored it for decades in mason jars within a beer cooler.

Poison ivy was sent to Europe in the 1600s as an exotic, ornamental oddity, where it was purposefully grown in the English royal gardens at Kew, the Faculty of Medicine in Paris, and a few other locations.

Cultural norms about how to handle the bodies of loved ones in communities in West Africa have hampered Ebola responses.

Prince's sexually explicit 1984 track 'Darling Nikki' attracted the ire of the Parents Music Resource Center, an advocacy group that inspired the Parental Advisory sticker, even though the song ends with a Christian message.

The price of gas is a composite made up of several different factors, with the federal gas tax making up less than 20% of what drivers pay at the pump.

Some coin denominations have ridges etched on their sides, partly to prevent counterfeiting, in a practice called 'reeding.'

See 33 images that became central to huge scandals, including a young Charles and Camilla, Michael Jackson's baby on a hotel balcony, and Hugh Grant's mugshot.

Larger animals like giraffes, elephants, and blue whales have developed a unique defense against cancer, a phenomenon known as Peto's Paradox

Warren Buffett's former professor Benjamin Graham is known as the 'father of value investing,' a strategy in which investors seek to buy stocks trading below their intrinsic worth.

Dozens of S&P 500 stocks, including Coca-Cola and Walmart—known as the dividend aristocrats—have increased dividends every year for 25 years

Many legends about George Washington, including his supposed wooden teeth and the story of cutting down the cherry tree, lack evidence.

Salvador Dalí believed he was his own dead brother, who had died nine months before he was born

Art theft is the third-largest source of criminal revenues worldwide, thanks in part to the subjective nature of valuing a work of art.

Explore fun facts from the USPS, including unique post office buildings, a stamp that traveled past Pluto, and more.

The US Constitution is widely regarded as the longest-standing written national constitution still in force—see how it has influenced rights worldwide.

Corals are themselves not coral reefs—the term refers to the tiny marine invertebrates that build the rigid reef.

A Yale student wrote a profound essay about the consulting industry's influence on elite college students that was published in a book of her writing after she died in a post-graduation car accident.

The Beatles' US label rejected the band's first two singles, 'Please Please Me' and 'From Me to You,' with one executive calling the band 'dead in the water.'

Watch contemporary footage covering the US-backed Shah of Iran fleeing the country in the face of the 1979 Iranian Revolution

The most expensive ad of all time was for Chanel No. 5 perfume and cost roughly $33M to produce in 2004—about $57M in today's dollars.

About 2,000 US babies are born annually without some portion of their limbs, potentially leading to a lifetime of pricey prosthetics.

Before the current East Wing ballroom project, only two White House renovations in the past 100 years cost more than $10M.

Pure water does not conduct electricity because this flow of energy requires the movement of charged particles, and water is a neutral molecule.

Brandi Chastain, the star of the 1999 US victory over China in the 1999 Women's World Cup, was a last-second choice to take the penalty kick that sealed the victory.