The Tower of London is one of the most iconic landmarks in England. This historic castle, which was built in the 11th century, has played a crucial role in English history and has seen countless political and social upheavals over the centuries.
But have you ever wondered how much the Tower of London is worth? Let’s take a closer look.
A Brief History of the Tower of London
Before we dive into the value of the Tower, let’s first take a quick look at its history. The Tower of London was built by William the Conqueror in 1066 as a symbol of Norman power.
Over the centuries, it was used as a royal palace, a prison, an armory, and even a zoo. Many famous figures were held captive within its walls, including Anne Boleyn and Sir Walter Raleigh.
The Value of the Tower
So how much is this iconic landmark worth? Unfortunately, there isn’t a straightforward answer to this question.
The Tower of London is owned by the Crown Estate, which manages properties belonging to the British monarch. As such, it’s considered to be priceless and is not officially for sale.
However, that doesn’t mean that people haven’t tried to estimate its value. In 1989, for example, Time magazine estimated that if all of the Crown Jewels were sold off individually, they could fetch up to $10 billion on the open market. And since many of these jewels are housed within the walls of the Tower of London’s Jewel House, it’s safe to say that their value adds significantly to that of the castle itself.
So What Is Its Value?
As mentioned earlier, there isn’t an official value for the Tower of London since it’s not for sale. However, there are some estimates out there based on factors such as its historical significance, the value of the Crown Jewels, and the castle’s potential as a tourist attraction.
One estimate from 2015 put the value of the Tower at around £70 billion (or roughly $90 billion). This figure is based on a calculation of the tower’s estimated annual revenue (around £100 million) multiplied by 700 (the number of years since it was built).
Conclusion
While it’s difficult to put an exact value on such an iconic and historically significant landmark as the Tower of London, there’s no doubt that it’s worth a considerable amount. Its cultural significance, combined with its potential as a tourist attraction and its status as home to some of the world’s most valuable jewels, makes it an asset that’s truly priceless in every sense of the word.