Britain’s King Charles III has officially surpassed the net worth of his late mother, Queen Elizabeth, according to The Sunday Times Rich List 2024. The 74-year-old monarch’s personal wealth has climbed to $770 million, making him the 258th wealthiest person in the United Kingdom. His mother, Queen Elizabeth’s wealth was determined to be $468 million prior to her death in September 2022, as per the Times Rich List of that year. Notably, King Charles’ wealth jumped $12 million since last year.
According to the Times, King Charles’ estates, Sandringham House and Balmoral Castle, are his most valuable assets. A former aide to the monarch told the outlet that King Charles rebuilt his wealth after his late ex-wife Princess Diana received $22.5 million in their 1996 divorce settlement. The aide said that the monarch augmented his wealth after that time by saving profits from the Duchy of Cornwall, a $1.4 million estate that includes 13,000 acres of land, 260 farm investment
“He became prudent at tucking away some money from the Duchy after that wipeout [of capital],” the former aide told the Times. “We’re not talking vast sums here – several tens of millions, no more. There have been suggestions that Queen Camilla brought a good deal of money into their relationship, but that’s really not correct,” the aide added.
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According to the New York Post, King Charles increased the duchy’s annual profits by 42.6% to over $31 million between 2011 and 2022. In the 10 years, he reportedly received over $268 million from the duchy.
The Duchy of Cornwall was established by Britain’s King Edward III in 1337 and has been passed down to each Duke of Cornwall. After Queen Elizabeth’s death, Prince William inherited the duchy.
King Charles also inherited an investment portfolio with an estimated worth of $151 million after his mother’s death. In addition to this, King Charles and the royal family also receive a Sovereign Grant every year, which is a payment from the UK government that is used to fund official royal duties.
However, according to the Times, King Charles’ total wealth is hard to estimate due to the publicly unknown value of the royal family’s jewellery, art collection and gifts received over the centuries.
