How Big Is King Charles III's Fortune?
King Charles III's fortune reaches a staggering amount after the succession to the throne. He invested heavily after divorcing Princess Diana.
Charles III has a considerable fortune, adding to his inheritance some of the assets he acquired as a prince. After getting his mother Elizabeth II's inheritance, valued at £360m ($445m), Charles's fortune will amount to £600m (£743m), The Times estimates.
According to a relative of the royal family, quoted by the newspaper, the former Prince of Wales has pursued an ambitious investment policy to rebuild his fortune after his divorce from Princess Diana.
The split cost him £17m in 1996, but Charles did not start from scratch and was able to count on the resources of the Duchy of Cornwall. This estate was established in the 14th century to give financial independence to the royal heir. Specifically, the latter does not own the assets of this fund but received its profits until his accession to the throne.
As well as 260 farms, the Duchy of Cornwall has 52,450 hectares of land and leases £345 million of commercial property.
Charles even created a village, Poundbury, in the suburbs of Dorchester. Under his leadership, the Duchy has grown in size and, in its latest annual report, has assets of more than £1bn, a record, with income paid to the heir to £23m, an increase of more than 40% in 15 years. That income now goes to his heir William.
The Fortune Of King Charles
Queen Elizabeth's will is not public. But Balmoral Castle, where the royals spend their summers, and Sandringham, are among the properties Charles inherited, unlike Buckingham or Windsor, the royal family's historic homes, which belong to the state.
Another historic symbol of the British monarchy, the crown jewels are also the property of the nation and are therefore excluded from royal wealth valuations because they alone are worth several billion pounds. On the other hand, the state pays the sovereign a "sovereign grant": an allowance of a quarter of the income generated by the Crown Estate, a vast fund made up of real estate assets such as offshore wind farms. The rest goes to the Treasury. The royal allocation has reached £86.4m for 2021-2022.
Finally, a third fund complements the royal fortune: the Duchy of Lancaster, controlled by the sovereign, has brought the queen £24m in 2022. When it comes to valuing the total assets of the Crown Estate, the truth is no one knows exactly what they amount to.
In a series of articles entitled "The cost of the crown", The Guardian has attempted to value the royal wealth, including the assets of the Duchy of Lancaster, legally defined as state-controlled but whose benefit accrues entirely to the sovereign.
The famous British newspaper also includes luxury vehicles, technically owned by the state but used by the royal family. Added to these are works of art, including a painting by Claude Monet, "Le Bloc", bought for £2,000 by Elizabeth II in the post-war period and now valued at £20m.
Photo Credit: King Charles / The Royal Family - photo credit Hugo Burnand