According to a new analysis, King Charles, the new King of England, has amassed a personal net worth of around $745 million in U.S. dollars, or £600 million.
The Sunday Times Rich List report shared that his alleged net worth is more than his late mother, Queen Elizabeth II, who had amassed a net worth of $460 million, or £370 million.
The queen passed in September of last year at the age of 96, passing her position on to her son.
King Charles is known for his long tenure as heir to the throne, as he assumed the position at the age of 21 in 1969. As heir, part of the job includes looking after one of several royal estates, The Duchy of Cornwall. Meanwhile, another estate, the Duchy of Lancaster, is under the control of the reigning monarch.
When it comes to calculating the King’s personal fortune, the Sunday Times shared that the two private dutchie royal estates, the Sandringham Estate and the Balmoral Castle, are all taken into account.
While caring for The Duchy of Cornwall, the King made a significant amount of money, increasing its annual earnings by 42.6% from 2011 to 2022, the report said. Now, his wealth puts him ahead of other famous Brits and millionaires, like Sir Elton John and David Beckham.
Overall, the Sunday Times shared that King Charles made an estimated £212.7 million from the duchy between 2012 and 2022, with a majority of the revenue the duchy brought in coming from “renting commercial properties” in other areas of England.
Another part of his wealth is thanks to his more “frugal” lifestyle, part of which he adopted after his very public divorce.
The report says the King allegedly became “prudent at tucking away some money from the Duchy” after his divorce from Princess Diana.
When it comes to the royal family’s finances, the author of a recent biography about the late Queen Elizabeth, Robert Hardman, shared that they are much different from other monarchs around the world.
“In all honesty, their financial arrangements really aren’t as complex as [those of] many royal families and rulers in other countries, which are often far more opaque. Our monarchy really isn’t as wealthy as many people would believe,” Hardman said to the outlet. “I certainly don’t think the King is a billionaire.”
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