King Charles III’s personal wealth surpassed that of his late mother, Queen Elizabeth II, according to the recently released Sunday Times Rich List 2024.
The 74-year-old monarch’s fortune now stands at $770 million, making him the 258th wealthiest person in the UK. This marks an increase of $12 million from last year.
Prior to her passing in September 2022, Queen Elizabeth’s wealth was estimated at $468 million, according to the Times Rich List 2022.
However, it is worth noting that Hugh Grosvenor, the Duke of Westminster, who holds the title of godfather to Prince George, the eldest son of Prince William and Kate Middleton is richer than King Charles III.
According to the Times, Grosvenor boasts of a family fortune worth $12.8 billion. The 33-year-old duke was named one of Prince George’s seven godparents in 2013.
He is also rumoured to be the godfather of Prince Archie, although his parents, Prince Harry and Meghan Markle, have not officially disclosed who their son’s godparents are.
King Charles III’s most valuable assets are Sandringham House and Balmoral Castle. A former aide of Charles said that the king faced financial losses after his late ex-wife Prince Diana received $22.5 million in their 1996 divorce settlement.
The aide while speaking to the Times UK revealed that King Charles increased his wealth by saving profits from the Duchy of Cornwall. This $1.4 billion estate includes 130,000 acres of land, 260 farms, and various investments.
“He became prudent at tucking away some money from the Duchy after that wipeout. We’re not talking vast sums here — several tens of millions, no more. There have been suggestions that Camilla brought a good deal of money into their relationship, but that’s really not correct,” the former aide told the outlet.
A duchy often refers to a large estate or collection of properties that generate income for the ruling noble or their descendants. The Duchy of Cornwall is an estate that provides income to the heir to the British throne. It was set up by King Edward III in 1337 and has been passed down to each Duke of Cornwall.
William inherited the Duchy of Cornwall when he received the title of Duke of Cornwall from Charles, following his father’s ascension to the throne after Queen Elizabeth’s death.
Between 2011 and 2022, Charles boosted the Duchy of Cornwall’s annual profits by 42.6%, bringing them to over $31 million, according to an analysis by the Times UK. During this period, the total worth of the duchy increased by nearly 50%, with Charles receiving over $268 million from the estate.
Following Queen Elizabeth’s death, Charles also inherited an investment portfolio valued at approximately $151 million.
Additionally, Charles and the royal family receive an annual Sovereign Grant, a payment from the British government to fund official royal duties.
The Times UK also noted that accurately estimating Charles’ total wealth is challenging due to the unknown public value of the royal family’s jewellery, art collection, and gifts accumulated over the centuries.
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