King Charles’ personal net worth revealed ahead of upcoming coronation
He’s not getting any royalties.
King Charles has reportedly amassed a personal net worth of ?600 million – equivalent to around $745 million in U.S. dollars – according to a new analysis for the Sunday Times Rich List.
His alleged net worth surpasses that of his mother, the late Queen Elizabeth II, who died in September at the age of 96. Last year, the Sunday Times calculated her net worth 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 millionaires like David and Victoria Beckham and Sir Elton John.
There are many factors that go into calculating the King’s own fortune – including the two private royal estates known as the duchies, and the Sandringham Estate and Balmoral Castle.
It is the job of the heir to the throne to look after The Duchy of Cornwall, while the Duchy of Lancaster is controlled by the reigning monarch, according 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 charge of the Duchy of Cornwall, he made them a significant profit. He increased their annual earnings by 42.6% to ?25.4 million between 2011 to 2022, according to the Sunday Times’ analysis.
During that same time frame, the duchy’s riches grew to ?1.04 billion – which is almost 50%, the outlet reported.
According to The Times, much of this was due to the revenue that came from “renting commercial properties” in other areas of England, which “account for more than a third of the money 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 amount, even though it wasn’t required, according 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.
In addition, Sandringham Estate and Balmoral Castle are supposedly the King’s “most valuable assets.” Based on other assessments, The Times estimated a value of ?245 million for Sandringham, and ?210 million total for Balmoral castle and its estate.
They also noted that Sandringham does bring in some tourism money, as they offer safari tours and have an apple juice company, aptly named Sandringham Apple Juice.
Both the Estate and the Castle were owned by the late Queen, but when she died, they both went to King Charles. And, due to an exemption that was put in place by former U.K. prime minister John Major in 1993, he did not pay any inheritance taxes when they were given 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 public in 1990. Right now, it is currently the largest organic food and drink brand in the United Kingdom, according to the website.
The treats, like the famous Duchy organic oat biscuits, were available in high-end departments stores Harrods and Fortnum & Mason, and later, expanded into mainstream grocery store Waitrose. Over the years, he added beer, herbal medicine, and gardening tools to that line.
This venture is operated separate from The Duchy of Cornwall, and according to Tasting Table, all of the profits earned from his partnership with Waitrose are donated to charity.
“A lot of people do get confused about the royal finances — wrongly thinking that [the royal family] personally own the Crown Estate and the duchies,” author Robert Hardman, who recently published a biography about 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 often far more opaque. Our monarchy really isn’t as wealthy as many people would believe. I certainly don’t think the King is a billionaire.”
The outlet also claimed that The King is known to be quite “frugal” due to his love for the environment, and has been seen wearing his suits and other clothing items more than once.
“Well, I’m one of those people who hate throwing anything away,” he told Vogue Magazine in 2020. “Hence, I’d rather have them maintained, even patched if necessary, than to abandon them.”
However, there are other assets that belong to the royal family that the King doesn’t make a profit from, including The Crown Estate, which is responsible for ?15.6 billion of the royal’s wealth, only belongs to Charles “in the right of the Crown,” the outlet noted.
The wills of the royals are not available for the public to see.
This news comes just weeks ahead of King Charles’ coronation ceremony, which is set to take place on Saturday, May 6 at Westminster Abbey in London.
The ceremony marks the official transfer of power to Charles after Queen Elizabeth’s death.
However, it seems like things might not be going to plan – last week, a report claimed that they had 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 would 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 had a spat about Markle in 2019. He also labeled the big bro as his “arch nemesis.”
