It's easy to look at the U.K.'s royal family and see nothing but obscene wealth. After all, one of the most common ways to say someone is rich is to proclaim that they have, "more money than the King (or, until recently, Queen) of England."
In the scope of worldwide fortunes, however, the royal family isn't quite as well-off as you might suspect. Don't get me wrong, King Charles is most definitely not struggling with his personal finances -- or likely even thinking about them at all.
But while the King can happily swim in his coffers -- a la Scrooge McDuck -- he has but a small fraction of the wealth of the Buffetts and Musks of the world.
Estimated private net worth: 1.8 billion pounds ($2.25 billion)
As the reigning British monarch, King Charles oversees a massive 37 million pounds ($46 million) portfolio of assets. But a surprisingly small percentage of that fortune is actually his. However, the exact nature and extent of the King's personal wealth is hard to estimate because much of it is kept secret.
In the wake of the coronation, many sources have tried to tackle the challenge. Perhaps the most thorough is a report from the Guardian, which claims to have conducted "the first comprehensive audit of the king's assets." The newspaper estimates Charles has a private net worth of around 1.8 billion pounds, or roughly $2.25 billion.
The royal fortune is made up of all the trappings one might expect the uber wealthy to have, including 330 million pounds ($413 million) worth of real estate in England and Scotland. While most of the castles in which he may reside aren't technically owned by the King himself, he inherited two extremely valuable estates from the late Queen: Balmoral and Sandringham. The latter estate is estimated to be worth 250 million pounds ($312 million) alone.
All together, Forbes estimates King Charles inherited around $500 million in assets from the Queen. And thanks to the savvy of that same Queen, Charles won't have to pay so much as a penny in inheritance taxes on the lot of it.
Estimated annual income: 127 million pounds ($138.4 million)
In addition to the vast fortune already at his disposal, the new King also has quite a good deal of income from his extensive assets. At the same time, the King -- and the royal family as a whole -- have a lot of expenses.
According to Forbes, the bulk of the annual income for the royal family comes from the Crown Estate, a massive 20.7 billion pounds ($19 billion) real estate portfolio. The vast majority of the profits from the Crown Estate go to the British Treasury -- income Forbes says totaled $361 million in 2022. But 25% of that profit -- known as the Sovereign Grant -- goes to the royal family.
Of course, Charles can't squander that profit all on his own. A 10% cut ($43.3 million in 2022) of that profit maintains Buckingham Palace. And the remaining 15% covers the bills for the whole royal family, including travel costs and formal events.
The King's other public source of income is the Duchy of Lancaster, a private estate which provides the King's personal allowance called the Privy Purse. This income -- which Forbes says amounted to $30 million in 2022 -- covers any other official expenditures.
Anything that's left of the Privy Purse once the official bills are paid belongs to Charles. But, thanks to an agreement with the British government made in 1993, the King actually has to pay income taxes on any portion of the Privy Purse not used for "official purposes."
A castle is a castle by any other name
Although most of the wealth King Charles oversees isn't actually his, the new King's bank accounts still spilleth over to the tune of over $2 billion. While this puts him well below some of the world's wealthiest billionaires, it's safe to say the man can probably buy just about anything he likes. It's good to be King.
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FAQs
It's hard to get a good estimate of the King's personal wealth, but the Guardian's estimates put it at around $2.25 billion. The King also receives significant annual income from both the Sovereign Grant and the Privy Purse, together equating to around $138 million a year.
How much is King Charles really worth? ›
From official state gifts that have been subsumed into private property, to vast hereditary estates that pay out tens of millions each year, much of the king's private wealth is derived from his and his family's public roles as working royals. All told, Charles's private wealth is estimated to total £1.815bn.
How much money does the king of England make? ›
So far, according to a report by Semana magazine and several British media outlets, the estimated income of Charles was 28.5 million dollars a year; William and Kate Middleton would earn about 4 million dollars a year; Prince Harry and Meghan, the Duke and duch*ess of Sussex, about 3 million; Princess Anne, 441,000 ...
What are some good things about King Charles 3? ›
As Prince of Wales, he founded nearly 20 charities.
Together, these charities raise £140 million each year for good causes! He's also passionate about the environment – as Prince, he spoke out about plastic pollution as early as 1970, drove an electric car and planted many trees during royal engagements.
Is the king a billionaire? ›
King Charles, inherited her $500 million per Forbes. 4 Charles' inheritance has reportedly made his wealth total over $2 billion (£1.8 billion), according to The Guardian,2 and includes assets ranging from estates and artwork, to jewels, racehorses, stamps and cars.
How much is King Charles' net worth in 2024? ›
King Charles had a net worth of £80million before taking to the throne, and is now estimated to be worth an eye-watering £600million.
What's Prince Harry worth? ›
Prince Harry and Meghan Markle have an estimated net worth of $60 million, according to Celebrity Net Worth.
What is Meghan Markle's net worth? ›
What is Meghan Markle's net worth in 2024? She and Prince Harry are reportedly worth a combined $60 million as of 2024. Related: The Identities of Archie's Mystery Godparents Revealed!
How much is Camilla's crown worth? ›
“Taking into account the removal of the Koh-i-Noor diamond and the addition of the three Cullinan diamonds – which boast a total value of £52m – the crown is likely to be worth around £400m,” estimates Stone.
What is Prince William's salary? ›
Nowadays one of his main sources of income is via the Duchy of Cornwall, which made profits of $26 million in 2020 and $24 million in 2021. According to Bloomberg, William will now earn $24 million a year from the Duchy of Cornwall.
On the other hand, Meghan was worth roughly $5 million when they got married. Once Meghan and Harry married in 2018, their total combined brought them to roughly $30 million dollars.
Who got Princess Diana's money? ›
Prince William inherited a huge amount of cash from his mother, the late Princess Diana when she died. The late Princess of Wales left £12,966,022 for both her sons, Princes Harry and William but was reduced to £8,502,330 after death duties.
How old was Diana when she married Charles? ›
Diana became Princess of Wales aged 20 when she married Charles, then 32, on 29 July 1981. The wedding was held at St Paul's Cathedral, which offered more seating than Westminster Abbey, a church that was generally used for royal weddings.
Who will be king after Charles? ›
After Charles, the line of succession turns to his older son William. William's children — Prince George, 10, Princess Charlotte, 8, and Prince Louis, 5 — are next in the line of succession, followed by Prince Harry and his children, Archie, 4, and Lilibet, 2.
How did King Charles III make his money? ›
The private income streams include the Duchy of Lancester and the Duchy of Cornwall—both portfolios of land, property, and assets. Known under the umbrella term Privy Purse, the Duchy of Lancaster is a stream of income that privately belongs to the British sovereign. It consists of more than 45,668 acres held in trust.
How much does Prince William make a year? ›
Look no further: Prince William's multi-million dollar salary has just been revealed. According to the Duchy of Cornwall estate's 2023 annual report, Prince William received a private income of nearly £6 million this year—which converts to more than $7.5 million.
How much does King Charles III inherit? ›
A Forbes report on the monarchy's wealth estimated Charles' inheritance from the Queen at a whopping $500 million worth of personal assets. But that's not all. As monarch, Charles also takes over institutions that Forbes estimated manage $42 billion worth of assets.
What businesses does King Charles own? ›
McDonald's restaurants, Starbucks stores, and lingerie shops are among the unexpected properties owned by King Charles III. The Crown Estate, which generates profits for the UK Treasury, is owned by the reigning monarch and control was passed down from Queen Elizabeth II to King Charles III upon her death in September.
