New estimates of King Charles’ wealth have reported that he has doubled the wealth of the late Queen Elizabeth. A former Royal adviser claims the King has become more financially prudent after his expensive divorce.
His environmental views support King Charles’ thrifty culture, so he recycles a lot. Before ascending to the throne, he earned between £15 million and £23 million as Duke of Cornwall.
After the Queen’s death, the new King inherited assets worth almost £22 billion from the Crown Estate. The Crown Estate and Royal Collection manage and store millions of paintings, books, works of art and jewellery.
Read on to learn more.
King Charles III Has Doubled The Wealth Of His Mother, The Late Queen Elizabeth II
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New estimate by Sunday Times The Rich List has confirmed that King Charles is now worth £600 million (around USD 745 million). This is almost double that of her mother, the late Queen Elizabeth, who was worth £370 million (about $460 million in USD) last year. King Charles is more prosperous than Sir Elton John and the Beckhams.
The King reportedly has a strict savings culture while the Duke of Cornwall. His thrift culture became more prominent after his divorce from Princess Diana cost him £17 million. A source said, per Daily Mail, “He became clever in sneaking money from the Duchy after the abolition. We’re not talking big numbers here — a few tens of millions, no more.”
King Charles’s Environmental Views Help Culture Save It
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His deep environmental views and principles underpin King Charles’ culture of saving. She is known for keeping her clothes and shoes intact over the years. During the 2020 interview with Vogue magazine, the King said, “I am one of those people who do not like to throw anything away. So I’d rather keep it, even patch it if necessary, than leave it.”
She continued, “The difficulty is, as you get older, you tend to change shape, and it’s not easy to fit into clothes. I cannot tolerate any waste, including food waste; I prefer to find other uses.”
Royal explains that this mentality is why he always insists on a “circular economy, rather than a linear one,” which allows for unnecessary waste. He says the linear economy is “a tragedy because we inevitably over-exploit our dwindling natural resources.”
King Charles Earned Millions Through Various Streams
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follow Daily Mail, before he ascended the throne, Charles earned between £15 million and £23 million as Duke of Cornwall. He passed the Duchy on to his eldest son, Prince William. In his last ten years in his Duchy, Charles earned an estimated £212.7 million in personal income.
During his time as Duke, Charles increased the farm’s profits to £25.4 million a year and grew his total wealth to about £1.04 billion. He also increased his commercial rental income from properties in Cornwall, London, and Milton Keynes.
After the Queen’s death last year, Charles, as heir apparent, inherited assets worth around £22 billion from the Crown estate. Its heritage also includes signature properties such as Buckingham Palace, the Duchy of Lancaster, the Duchy of Cornwall and Kensington Palace.
King Charles also owns properties, including Balmoral and Sandringham palaces, worth £55 million and £60 million respectively. The Queen also dropped off an impressive £100m portfolio of stocks and bonds.
Crown Estate Has Billions in Assets
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The Crown Estate manages the government assets of the Royal Family and holds non-saleable assets worth approximately £15 billion. This includes millions of paintings, jewellery, statues and other valuable works of art in the Royal Collection. The Queen has an extensive personal stamp and art collection, the value of which is unknown.
King Charles also receives funding from the Sovereign Grant, which allocates funds for his staff, security and maintenance costs. The grant is a repayment of 25% of the crown’s annual profits from its estate. For 2022-2023, the Sovereign Grant spends approximately £86 million on the expenses of the Royal family.
The King’s coronation is approaching, and the ceremony is expected to be celebrated with great fanfare. However, it is reported that it will be more petite and loose compared to previous celebrations.
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Source: thtrangdai.edu.vn/en/
