New estimates suggest that King Charles has a fortune worth £600 million, which is almost double the late Queen's estimated wealth of £370 million. The King is
believed to have carefully saved money from profits generated by his Duchy of Cornwall estate, and he is also said to have adopted a more frugal approach to spending after his costly divorce from Princess Diana.
Charles' finances have been analyzed for the upcoming Sunday Times Rich List, and a former adviser has revealed that the King's divorce prompted him to be more careful with his money. The source suggested that Charles started tucking away money from the Duchy after his divorce wiped out a significant amount of his wealth. Although the amount he saved is not vast, it is believed to be several tens of millions of pounds.
It has been suggested that Camilla, the Duchess of Cornwall, brought a substantial amount of money into the relationship with the King. However, the former adviser claims that this is not correct. The King's savings have likely also been helped by his own views on the environment. He is known for wearing clothes and suits bought years ago, and he has said that he hates throwing anything away. Instead, he prefers to maintain his belongings and find new uses for things, including food.
Charles' stewardship of the Duchy of Cornwall has also helped him increase his wealth significantly. The estate, which dates back to the 14th century, spans more than 50,000 acres and includes agricultural land, residential properties, and commercial assets. The Duchy's income has grown rapidly in recent years, reaching £23.2 million in 2022, up from £21.7 million in 2021. The King's careful management of the estate, coupled with rising property prices, has helped to boost its profits.
The King's wealth means that he now has more money than some of the country's wealthiest celebrities, including Sir Elton John and the Beckhams. However, the King is not the richest member of the royal family. The Duke of Westminster, who is believed to be worth around £10 billion, tops the Sunday Times Rich List for 2023.
The King's wealth is likely to be a topic of discussion in the coming weeks as he prepares to be crowned as the country's new monarch. His coronation, which will take place on May 6, is expected to be a grand affair, with a concert featuring Katy Perry, Lionel Richie, and Take That among others. The event will celebrate a new chapter in the nation's history, with themes of love, respect, and optimism, and will be broadcast on BBC One, BBC iPlayer, BBC Radio 2, and BBC Sounds. The concert will be held at Windsor Castle and will be attended by 20,000 members of the public and invited guests. Photo by Mark Jones, Wikimedia commons.