He’s not getting any royalties.
King Charles has reportedly amassed a private net price of £600 million – similar to around $745 million in U.S. dollars – in response to a recent evaluation for the Sunday Times Wealthy List.
His alleged net price surpasses that of his mother, the late Queen Elizabeth II, who died in September on the age of 96. Last 12 months, the Sunday Times calculated her net price to be £370 million – about $460 million USD.
The Post reached out to reps for the royal family for comment.
Apparently, the King’s wealth surpasses other billionaires like David and Victoria Beckham and Sir Elton John.
There are numerous aspects that go into calculating the King’s own fortune – including the 2 private royal estates often known as the duchies, and the Sandringham Estate and Balmoral Castle.
It’s the job of the heir to the throne to take care of The Duchy of Cornwall, while the Duchy of Lancaster is controlled by the reigning monarch, in response to the outlet.
King Charles took over in 1969, when he was 21-years-old. After the Queen’s death, Prince William inherited the private estate.
When the King was in control of the Duchy of Cornwall, he made them a major profit. He increased their annual earnings by 42.6% to £25.4 million between 2011 to 2022, in response to the Sunday Times’ evaluation.
During that very same timeframe, the duchy’s riches grew to £1.04 billion – which is nearly 50%, the outlet reported.
In accordance with The Times, much of this was as a consequence of the revenue that got here from “renting industrial properties” in other areas of England, which “account for greater than a 3rd of the cash brought, totaling at £17.6 million.
He received £212.7 million from the duchy between 2012 and 2022, and volunteered to pay income tax on the quantity, regardless that it wasn’t required, in response to The Sunday Times.
A former adviser to the King also told the outlet that Charles became “prudent at tucking away some money from the Duchy” after his expensive divorce from the late Princess Diana.
As well as, Sandringham Estate and Balmoral Castle are supposedly the King’s “most precious assets.” Based on other assessments, The Times estimated a price of £245 million for Sandringham, and £210 million total for Balmoral castle and its estate.
In addition they noted that Sandringham does usher in some tourism money, as they provide safari tours and have an apple juice company, aptly named Sandringham Apple Juice.
Each the Estate and the Castle were owned by the late Queen, but when she died, they each went to King Charles. And, as a consequence of an exemption that was put in place by former U.K. prime minister John Major in 1993, he didn’t pay any inheritance taxes once they got to him.
The King also earned a portion of his wealth from his line of foods and produce called Duchy Originals, first introduced to the general public in 1990. Right away, it’s currently the most important organic foods and drinks brand in the UK, according to the web site.
The treats, just like the famous Duchy organic oat biscuits, were available in high-end departments stores Harrods and Fortnum & Mason, and later, expanded into mainstream food market Waitrose. Through the years, he added beer, herbal medicine, and gardening tools to that line.
This enterprise is operated separate from The Duchy of Cornwall, and in response to Tasting Table, all the profits earned from his partnership with Waitrose are donated to charity.
“Numerous people do get confused concerning the royal funds — wrongly pondering that [the royal family] personally own the Crown Estate and the duchies,” creator Robert Hardman, who recently published a biography concerning the late Queen Elizabeth, told The Times.
“In all honesty their financial arrangements really aren’t as complex as [those of] many royal families and rulers in other countries, which are sometimes much more opaque. Our monarchy really isn’t as wealthy as many individuals would consider. I definitely don’t think the King is a billionaire.”
The outlet also claimed that The King is understood to be quite “frugal” as a consequence of his love for the environment, and has been seen wearing his suits and other clothing items greater than once.
“Well, I’m one among those individuals who hate throwing anything away,” he told Vogue Magazine in 2020. “Hence, I’d quite have them maintained, even patched if needed, than to desert them.”
Nonetheless, there are other assets that belong to the royal family that the King doesn’t make a cash in on, including The Crown Estate, which is answerable for £15.6 billion of the royal’s wealth, only belongs to Charles “in the proper of the Crown,” the outlet noted.
The wills of the royals aren’t available for the general public to see.
This news comes just weeks ahead of King Charles’ coronation ceremony, which is ready to happen on Saturday, May 6 at Westminster Abbey in London.
The ceremony marks the official transfer of power to Charles after Queen Elizabeth’s death.
Nonetheless, it looks as if things may not be going to plan – last week, a report claimed that they’d only rehearsed the 90 minute ceremony once, and a second alleging that the upcoming event had been thrown into “chaos.”
On Wednesday, the palace announced that Prince Harry can be attending the coronation ceremony sans his wife, Meghan Markle.
The much-anticipated announcement was made amid tensions between Harry, Markle, and the royal family.
In his January tell-all memoir, “Spare,” Harry alleged that his brother, Prince William, had “physically attacked” him while they’d a spat about Markle in 2019. He also labeled the massive bro as his “arch nemesis.”
