Following the passing of his mother, Queen Elizabeth II, on September 8, King Charles assumed the throne as the new king of Britain. At age 73, the King—who was crowned as the heir apparent to the throne at the age of three—became the oldest monarch to ever assume the throne. King Charles will now inherit all of his mother’s possessions and wealth because he will be the new monarch. The King will be the owner of substantial wealth when his personal assets are included. Continue reading to learn more about the next King’s wealth.
The net worth of the new King to be!
King Charles had a $100 million net worth prior to taking the throne. Now that Queen Elizabeth II has passed away, the new King will inherit a fortune in personal assets totalling $500 million, bringing his overall net worth to $600 million.
The Duchy of Cornwall, a real estate trust, provided a significant portion of his income. The trust was established in 1337 to give the Prince of Wales and his family income. The current monarch’s eldest son receives the inheritance from the fund. A variety of assets, such as cottages, beach estates, country manors, barns transformed into residences, and rental properties, are used to acquire the money. From the fund, King Charles reportedly made between $20 million and $30 million, primarily from rents and agricultural sales.
Been a diligent member of the Military!
King Charles served in the Royal Navy and Air Force early in his career and received his jet pilot training at the Royal Air Force College in Cranwell. His subsequent assignments were HMS Norfolk, HMS Minerva, HMS Jupiter, HMS Hermes, and HMS Bronington.
The Crown Estate was another source of revenue for the King before he was crowned. He did not possess the estate’s assets, but he did receive a portion of the income. King Charles receives roughly $20 million annually from the Crown Estate. Additionally, he deducts 25% of the Sovereign Grant revenue to cover family expenses including travel, cleaning, and IT fees. The Queen also owns the Royal Collection Trust, which is estimated to be worth at least $1 billion and contains pieces of art by Rembrandt and Leonardo da Vinci in addition to other precious items.
A man of charity and good work!
The Prince of Wales’ Charitable Foundation, one of the biggest independent foundations operating in the UK, was established by the King in 1979. The organisation provides funding for initiatives including the Prince of Wales’ Accounting for Sustainability Project and the International Sustainability Unit.
The King has given out gifts totalling more than $72.5 million over the past few years. Approximately 400 philanthropic organisations, including those devoted to youth opportunity, education, and anti-trafficking, are under his care as well. He raises about $138 million annually for charity through his organisations.