The coronation of King Charles III is just around the corner, and many people are curious about the personal wealth of the new monarch. According to a recent analysis by The Sunday Times Rich List, King Charles has a net worth of £600 million, equivalent to around $745 million in U.S. dollars. This makes him significantly richer than his late mother, Queen Elizabeth II, who had a fortune of £370 million, according to the same source.
How did King Charles accumulate such a massive fortune? The answer lies in his prudent management of his inherited assets, his entrepreneurial ventures, and his frugal lifestyle.
King Charles inherited two major sources of income from his mother: the Duchy of Cornwall and the Sandringham estate. The Duchy of Cornwall is a property empire that covers 135,000 acres across 23 counties in England and Wales. It provides income for the heir to the throne and his family. The Sandringham estate is a private residence and farmland in Norfolk that has been owned by the royal family for more than 160 years.
King Charles has been in charge of the Duchy of Cornwall since 1969, when he became the Prince of Wales. Under his stewardship, the Duchy has increased its value by $350 million in a decade, generating £23 million ($28.5 million) in profits last year and £212 million ($263 million) in the decade to 2022. King Charles has diversified the Duchy’s portfolio by investing in commercial properties, renewable energy, organic farming, and tourism. He also pays income tax on his Duchy income, unlike his predecessors.
King Charles also owns another property in Scotland: the Balmoral castle and its 50,000 acres of land. The castle was bought by Prince Albert for Queen Victoria in 1852 and has been a favorite retreat for the royal family ever since. The castle and its estate are estimated to be worth £210 million ($260 million).
In addition to his inherited properties, King Charles has also created his own brand of products: Duchy Originals. The brand was launched in 1990 with a range of organic biscuits made from ingredients grown on his Highgrove estate. Since then, Duchy Originals has expanded to include other products such as beer, herbal remedies, garden tools, and clothing. The brand is sold through retailers such as Harrods, Fortnum & Mason, and Waitrose. Duchy Originals also supports charitable causes such as environmental conservation, education, health, and social welfare.
King Charles is not only a savvy businessman but also a thrifty spender. According to a former aide quoted by The Sunday Times, King Charles became more careful with his finances after his divorce from Princess Diana in 1996, which cost him £17 million ($21 million). He reportedly saves money by wearing old clothes, mending his shoes, and using energy-efficient light bulbs. He also travels by train or car whenever possible instead of flying.
King Charles’s coronation will take place on May 6 at Westminster Abbey. He will be crowned as the head of state of 16 Commonwealth realms and the leader of the Church of England. He will also inherit a priceless collection of jewels, art, and antiques from his mother. However, he will not have control over the Crown Estate, which is a separate entity that manages royal properties on behalf of the government and returns its profits to the Treasury.
King Charles’s personal net worth may not rank him among the top 250 richest people in Britain, but it certainly makes him one of the wealthiest monarchs in history. His fortune reflects his decades of hard work, innovation, and responsibility as the longest-serving heir apparent in British history.
