Increase the wealth of Charles III, twice as rich as Elizabeth II

“How rich is King Charles?“WHAT? Times scrutinized the fortunes of Charles III. According to the magazine, which published its investigation on April 16, it is estimated at 600 million pounds (that is, more than 670 million euros), which exceeds, for example, the investigation of David and Victoria Beckham, Sir Elton John or even the famous British dynasty. Bakers Warburtons. For comparison, Queen Elizabeth II’s fortune was £370 million last year. Therefore, almost half as much as his son.

In the video, what Charles III’s accession to the throne changes for the British monarchy

How to explain it? Known for his thrift, Charles is above all gifted with a keen business sense that has allowed him to become wealthier than his late mother. He made money in all fields. In 1990, he launched his line of cookies under the Duchy Originals brand. These products were originally sold in Harrods and Fortnum & Mason and later in Waitrose, sourced from his Highgrove House estate. The cookies will then be followed by beer, medicinal herbs and gardening tools.

As one of his former assistants TimesEngland’s new king was thus able to carefully rebuild his finances after his divorce from Princess Diana in the mid-1990s, which at the time cost him no less than £17m. “After the extermination, he became cautious about putting the duchy’s money aside [du capital]. We are not talking about significant amounts, several tens of millions, no more. Some have assumed that Camilla brought a lot of money into their relationship, but that is not true at all,” says a former confidant of Windsor..

Duchy of Cornwall

Charles derives part of his wealth from the Duchy of Cornwall, which he inherited and ruled for 70 years (unlike the Duchy of Lancaster, which is ruled by a reigning monarch). This land in the southwestern tip of Great Britain enabled him to amass a considerable fortune. Proof: Between 2011 and 2022, the annual profits of the Duchy of Cornwall increased by 42.6% and the Duchy’s wealth by 50% (to £1.04 billion). The former Prince of Wales earned £25.4m before tax in the last financial year.

A real estate empire

Meanwhile, Charles has also seen his income grow by investing in stone, of course, by renting out commercial properties in London, Milton Keynes and Cornwall.

As Prince of Wales, he also launched lucrative projects to protect the environment and encourage organic farming. For example, he has made the Highgrove estate, 170 kilometers southwest of London, his favorite playground, selling the products of his “ecological” farm. It is possible to buy spirits, chocolates, jams or even perfume on its online site made in Haygrove (sells for almost 180 euros per bottle). The current King of England is also the proud owner of a nature retreat and craft center in Transylvania such as: Forbes: mentioned in September. Both operate as bed and breakfasts.

Sandringham and Balmoral

Since Elizabeth II’s death in September, Charles III has therefore inherited a generous inheritance, which has now been added to his personal wealth. So he has the Sandringham and Balmoral estates, which are among his most prized possessions.

The first, located in Norfolk, covers 8,000 hectares and has been owned by the royal family for over 160 years. It has 300 buildings, but above all the listed mansion Area of ​​Outstanding Natural Beauty, where the Windsors celebrate Christmas every year. Property firm McCarthy Stone last year valued it at £55m. And based on estimates of the value of farmland in the area, the entire estate is believed to be worth around £245m. On the business side, his orchards supply produce to the Sandringham Apple Juice Company, and tours are offered at £160 per person. To generate new income.

Balmoral Estate in Scotland was purchased by Prince Albert in 1852 for Queen Victoria. Estimated by McCarthy Stone at £60 million, Balmoral Castle (where Elizabeth II died on September 8) is surrounded by 20,000 hectares of mountains, woods, lakes and 150 other buildings. Among them is Birkhall, an 18th-century home and Charles’ Scottish retreat for more than 20 years. In total, the Balmoral estate is worth £210 million.

Both Sandringham and Balmoral belonged to the late Queen as personal estates. It therefore stands to reason that Charles would have to pay inheritance tax. This happened despite a legal exception introduced by Prime Minister John Major in 1993 to preserve the fortunes of sovereignty. More specifically, this measure is supposed to prevent, if several monarchs die within a few years of each other, the inheritance of the king or queen from disappearing, being reduced by 40% with each inheritance. As a reminder, inheritances are normally subject to 40% tax on assets above the £325,000 threshold.

Elizabeth II’s legacy

Charles also inherited a large investment portfolio from his mother. It consists mainly of stocks and bonds, currently valued at around £100m. Added to this is the Queen’s breeding of purebreds, as well as her personal collection of stamps, jewelry and works of art. Times but ignores the value.

On the other hand, we do not know what the current King of England, who will be crowned on May 6, inherited from his father, because Prince Philip’s will is not published. A priori, the Duke of Edinburgh would bequeath to his eldest son his art collection, which royal commentator and journalist David McClure (d. 2022) estimated at $2.3 million.

Heritage of the Crown

As the new monarch, King Charles III also became the owner of institutions that manage assets valued at $42 billion, including the world’s most famous royal palaces and crown jewels. In contrast, these properties, which include Buckingham Palace, Windsor Castle and the Tower of London, are not held directly by the King; they are so “in the name of the crown.” This is called “Crown Estateand is said to have a royal net worth of £15.6 billion. Clearly, if Charles can enjoy these facilities as much as he likes, they do not belong to him. For example, Dumfries House in East Ayrshire depends on a foundation set up to maintain the property, its expensive furnishings and 800 hectares of land. While Highgrove and the Llwynywermod estate both belong to the Duchy of Cornwall, control of which has recently passed to William, who succeeded his father as Prince of Wales.

If Charles is not the owner, the Crown Estate inheritance still generates an annual profit. These are paid not to the King, but to the Treasury, which pays him 25%. Revenues that later finance the expenses of the royal house.

“Many people misunderstand royal finances by thinking that it is the wrong way around [la famille royale] personally owns the Crown Estate and Duchies,” said author Robert Hardman, quoted in The. Times. “To be fair, their financial arrangements are not as complex as those of many royal families and sovereigns of other countries, which are often much more opaque. Our monarchy is not as rich as many people think. I certainly don’t think the king is a billionaire.”

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The power of minimalism

Finally, Charles III, an ardent environmentalist, was able to save money by avoiding unnecessary expenses. He’s been taking care of turning off the lights for years and has been redoing the wardrobe for years now. He often wears suits and shoes bought many years ago. “I’m one of those people who hates to throw things away,” he once told the magazine. fashion . Similarly, minimalism also applies to the palace.

In the video, Charles III and Camilla were welcomed in ball gowns at Berlin’s Bellevue Palace