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Friday, April 12, 2024

King Charles richer than his mother – Sunday Times

The British monarch is said to have significantly boosted profits from the royal estates

The personal wealth of Britain’s King Charles III amounts to £600 million ($745 million), which makes him more than 60% richer than his mother, the late Queen Elizabeth II, according to an estimate by The Sunday Times. Last year, the newspaper calculated the queen’s personal fortune at £370 million ($459 million).

Part of Charles’s income comes from managing the Duchy of Cornwall, a royal estate that includes 130,000 acres of land, 260 farms, and properties across England and Wales, such as a cricket ground in South London. The duchy is traditionally run by the reigning monarch’s eldest son.

Read more: Prince Harry to attend Charles’ coronation, Meghan to stay in California

Between 2011 and 2022, Charles reportedly increased the duchy’s annual profits by 42.6% by selling various goods, such as biscuits and beer, as well as renting commercial properties. The king received £212.7 million ($262.1 million) from the duchy alone between 2012 and 2022, according to The Sunday Times.

The report cited Charles’s former adviser, who opted to stay anonymous, as saying that the royal “became prudent at tucking away some money from the duchy” after his £17 million ($21 million) divorce settlement with Diana, Princess of Wales, in 1996.

Read more: Charles III to address German parliament on first state visit

Charles assumed the throne after his mother passed away in September 2022 at the age of 96. She had reigned for over 70 years, more than any monarch in British history.