According to a recent Sunday Times Rich List study, King Charles has acquired a personal net worth of £600 million, or roughly $745 million in U.S. dollars.
After his mother, Queen Elizabeth II passed away in September at 96, Charles is expected to inherit a fortune more excellent than his grandmother’s and the Sunday Times estimated her wealth at £370 million (or roughly $460 million) last year.
The Post asked for a reply from the royal family’s representatives. It would appear that the King’s fortune dwarfs that of celebrities like the Beckhams or Sir Elton John.
The duchies, Sandringham Estate, and Balmoral Castle are just some of the assets that contribute to determining the King’s wealth.
According to the source, the current monarch controls the Duchy of Lancaster, while the heir to the throne is responsible for The Duchy of Cornwall.
Charles, then 21 years old, became King in 1969. Prince William received the private estate after the death of the Queen.
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The Duchy of Cornwall benefited greatly under the King’s reign. The Sunday Times estimates that between 2011 and 2022, he boosted their annual revenues by 42.6% to £25.4 million.
Meanwhile, the duchy’s wealth increased by over half, reaching £1.04 billion, as reported by the same agency.
Revenue from “renting commercial properties” in other areas of England accounted for more than a third of the money brought, reaching £17.6 million, as reported by The Times.
According to The Sunday Times, he voluntarily paid income tax on £212.7 million from the duchy between 2012 and 2022.
According to a former advisor to the King, Charles became “prudent at tucking away some money from the Duchy” after his costly divorce from Princess Diana.
They say that Sandringham Estate and Balmoral Castle are the King’s “most valuable assets.” The Times reported that Sandringham was valued at £245 million and Balmoral at £210 million based on valuations from different sources.
They also mentioned that Sandringham generates income from tourists because it hosts safari trips and is home to a firm called Sandringham Apple Juice.
The Estate and the Castle belonged to the late Queen, but they passed to King Charles after her passing. Additionally, he did not have to fork over any cash for inheritance taxes because of an exemption in 1993 by the then-prime minister of the United Kingdom, John Major.
The King also benefited financially from introducing his Duchy Originals food and produced brand in 1990. According to the website, they are currently the most popular brand of organic food and drinks in the U.K.
The goodies, like the famous Duchy organic oat biscuits, were originally only sold at upscale department stores like Harrods and Fortnum & Mason. However, they eventually entered more mainstream grocery stores like Waitrose. He expanded his offerings over time to include alcoholic beverages, herbal remedies, and gardening implements.
This business is run independently from The Duchy of Cornwall, and all of the earnings from his collaboration with Waitrose are reportedly given to charity, as reported by Tasting Table.
“A lot of people do get confused about the royal finances — wrongly thinking that [the royal family] personally own the Crown Estate and the duchies,” author Robert Hardman recently published a biography about the late Queen Elizabeth, said told The Times.
“In all honesty, their financial arrangements aren’t as complex as [those of] many royal families and rulers in other countries, which are often far more opaque. Our monarchy isn’t as wealthy as many people would believe. I certainly don’t think the King is a billionaire.”
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The media company also said that the King is “frugal” because he is concerned for the environment and frequently wears identical suits and other apparel items.
“Well, I’m one of those people who hate throwing anything away,” he told Vogue Magazine in 2020. “Hence, I’d rather have them maintained, even patched if necessary, than abandon them.”
The Crown Estate, which accounts for £15.6 billion of the royal’s fortune, solely belongs to Charles “in the right of the Crown,” the outlet reported, but the King does not profit from other assets that belong to the family.
No one can view the royal family’s wills because of privacy concerns. The coronation ceremony for King Charles will take place on Saturday, May 6, at Westminster Abbey in London, so this announcement couldn’t come at a better time. With her death, Queen Elizabeth officially passed the reins of government to her son, Prince Charles.
It appears, however, that not everything is proceeding according to plan. Two reports surfaced in the past week, one of which said they had only rehearsed the 90-minute ceremony once, and the other indicated that the upcoming event had been thrown into “chaos.”
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