An analysis by The Sunday Times suggests the king has a fortune of £600 million (about $745 million), while his mother has a personal fortune of about £370 million (460 million of dollars).
An unnamed former adviser to King Charles told The Sunday Times that Charles became scrupulous about his finances following his divorce from Princess Diana in 1996, which cost him £17 million (about $21 million today). Charles began saving the profits from the Duchy of Cornwall, a real estate empire now controlled by his eldest son, Prince William.
The value of the Duchy of Cornwall increased by $350 million in a decade under Charles. It generated profits of 23 million pounds ($28.5 million) last year and 212 million pounds ($263 million) in the decade to 2022. Charles has chosen to pay income tax on these income, Insider notes.
However, much of his fortune comes from the 20,000-acre Sandringham estate in Norfolk, which the newspaper estimates is now worth £245m. The residence and its agricultural lands have been owned by the royal family for more than 160 years.
Meanwhile, Balmoral Castle and its 50,000 acres in Aberdeenshire, Scotland, which Prince Albert bought for Queen Victoria in 1852, is believed to be worth £210 million ($260 million).
This year’s rich list will be published in May and the king is likely to overtake David and Victoria Beckham, who were worth £380 million ($472 million) in last year’s ranking, and on Sir Elton John, who had 395 million pounds ($490 million).
The 2022 rich list was headed by siblings Sri and Gopi Hinduja, whose net worth rose by more than £11bn to £28.5bn ($35.4bn) – the biggest in the list’s 34-year history.
King Charles, whose coronation will take place on May 6, has a reputation as a “modest” man, having been known to always turn off the light when leaving a room, according to a BBC documentary.
Also, he tends to wear the same clothes, avoiding excessive spending on new outfits.
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