It has not been long since Charles Philip Arthur George ascended the British throne, yet people are already curious about King Charles net worth after he became the ruler of the United Kingdom and the fourteenth other Commonwealth realms at the age of seventy-three. Making him not only the longest-serving heir apparent in British history but also the oldest person to ever accede to the crown following his mother’s death on the 8th of September, 2022.
King Charles III being the eldest son of Queen Elizabeth II and Prince Philip, already enjoyed abundance of wealth, valuable material possessions and resources as the heir to the throne as well as the Prince of Wales.
However, with his assent as the new British monarch and the general masses fascination with the Royals, Charles III’s wealth has been once again brought to the larger public’s attention. Burning questions like; what he has inherited from the late Queen, how he makes money and what is King Charles net worth as of now are on the tips of everyone’s tongue.
Well, fear not! Here are all the details that you need to know about King Charles net worth after becoming the King of England.
What Is King Charles Net Worth?
After ascending the throne, King Charles net worth has been increased to a staggering $600 Million USD dollars in total.
Yes, you are seeing that figure quite right! King Charles net worth has tripled since he took over the monarch and inherited her mother’s wealth in 2022.
Prior to that, King Charles III reportedly had a net worth of $100 Million USD dollars as the heir apparent to the throne. Read more to know about King Charles net worth.
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What Did King Charles III Inherit From His Mother, Queen Elizabeth II?
King Charles III inherited a total of $500 Million USD dollars from his late mother, which not only includes her real estate properties but also her other personal investments as well.
As for her estate holdings, Charles III has inherited her two castles:
- The Sandringham House in Norfolk, England.
- The Balmoral Castle in Aberdeenshire, Scotland (Queen Elizabeth II also died here)
While her other possessions, that are worth up to $70 Million USD dollars and are now King Charles III assets, include:
- Art collection (which includes paintings from artists like Monet, Nash and Carl Fabergé)
- Expensive jewellery collection
- Rare stamps, Fine China and Horses.
- A valuable Faberge egg collection etc.
Moreover, King Charles III did not have to pay tax for inheriting the late Queen’s properties and assets because of a 1993 agreement made between the British royal family and former Prime Minister John Major – which exempts the Royals from the United Kingdom’s 40% inheritance tax.
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How Much Did King Charles III Make Money From The Duchy Of Cornwall?
Like we have mentioned before, King Charles has accumulated a lot of wealth for himself over his time as the Prince of Wales and has many resources from where he earns money. Out of which, one of those resources happens to be the Duchy of Cornwall-a private state that was established by Edward III in 1337 to financially support the heir to the throne, as per CNN.
Which acted as one of his main sources of income throughout his time as Prince of Wales. Both Charles III and his wife, Camilla Parker Bowles (now known as the Queen Consort), received up to 90 percent of their income from the said estate in question.
Since its formation, the Duchy of Cornwall has been funded by the ownership and operation of land in rural and urban areas, islands, as well as rental cottages in many parts of England (i.e. Wales and Cornwall etc.).
As of 2018, Charles III and Camilla Parker Bowles made a whopping $28 Million USD dollars from the said estate alone.
After Charles III ascended to the throne, the Duchy of Cornwall was inherited by his eldest son, Prince William and his wife, Katherine Middleton, as the new Prince and Princess of Wales.
While, on the other hand, Charles and Camilla has now have the Duchy of Lancaster in their possession, which has been passed down to him from Queen’s Elizabeth as the new monarch – it consists of over 45,000 acres of land in England and Wales and produced $26 Million USD dollars for the late Queen in 2018 alone.
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How Much Did King Charles III Earn From Sovereign Grant?
King Charles III and his wife also earned $1.8 Million USD dollars from Sovereign Grant in the year of 2018 – taxpayer funds that are paid to the British Royal family every year to cover expenses like staff hires, castle maintenance and upkeep, travel as well as royal security.
Sovereign Grant was first developed from an agreement made by King George III in 1760, originally called the Civil List, which states that the Royals will receive annual income from the Parliament after surrendering their earnings or profits to the government.
Later on, it was reworked as the Sovereign Grant in 2012.
As per the royal website, the fundings come from the 25% percent of the profits gained from Crown Estate revenue, family collections of lands and properties that have £14.1 billion worth.
Moreover, it has been reported by Forbes that up till the year of 2020, the Crown Estate has made £475 million in profits, and with Queen receiving 25% of that total sum, she has gained up to £86.3 million – which is $94 million dollars in the United States of America.
Where Does King Charles III Spend His Money?
As per CNN, the King and Queen Consort spent 50% of their annual income on travel and other official royal engagements.
Whereas the quarter of their total sum of income is spent on government taxes, and the remaining $8.9 Million USD Dollars goes to King Charles III two sons with his first wife, Prince William and Prince Harry.
Some of its amount also goes to non-official purchases (that we do not know of) and also to a royal savings account.
King Charles Net Worth: $28 Billion Worth Of Assets That Charles III Has Control Over As The New British Monarch
Both Charles III and Camilla are the senior members of The Firm or the Monarchy PLC. After Queen’s death and Charles becoming the King, he is now the head of ‘The Firm’ that comprises of members from House of the Windsor and the royal family members, including:
- Charles
- Camilla
- Prince William and his wife, Kate Middleton
- Princess Anne
- Prince Edward and his wife Sophie, Countess of Essex.
As per Forbes estimate in 2021, the British royal family has a total of $28 billion worth of real estate, but those holdings can not be sold.
Here are the names and the worth of the assets that King Charles III has controlled over after becoming the new British monarch.
- The Crown Estate:$19.5 billion dollars
- Buckingham Palace: $5 billion dollars
- The Duchy of Cornwall: $1.3 billion dollars
- The Duchy of Lancaster: $748 million dollars
- Kensington Palace: $630 million dollars
- The Crown Estate of Scotland:$592 million dollars
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Wrap Up:
Even though it has been only a month since Charles III was crowned King, one thing is clear that after his ascent to the throne, his wealth has catapulted to a great length.
