KING CHARLES took over as head of the UK Royal Family following the death of Queen Elizabeth II in 2022.
As well as inheriting the crown, Charles III has come into some serious money thanks to the various assets that have been passed on to him.
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What is King Charles’ net worth in 2023?
King Charles had a net worth of £80million before taking to the throne, and is now estimated to be worth an eye-watering £600million.
According to Forbes, the monarchy holds around $28billion (around £22billion) in assets.
These include the Crown Estate, Buckingham Palace, Kensington Palace, the Duchy of Cornwall, the Duchy of Lancaster, and the Crown Estate Scotland.
The money from these assets is not, however, King Charles’ personal money.
Funds can be used by King Charles as part of his role as head of the monarchy, but they belong to the Crown itself and will eventually be passed down to Prince William once he takes over the throne.
Does King Charles get a salary?
The Royal Family gain income from the Sovereign Grant and what is known as the the “Privy Purse,” the British Sovereign’s private income, mostly from the Duchy of Lancaster, as well as their own personal wealth and investments.
The Sovereign Grant is paid annually to the monarch by the Treasury and is used to fund the monarch’s official duties and is normally calculated at 15% of the Crown Estate profits.
The grant amount for the 2022-23 financial year was £86,300,000.
How much money did King Charles inherit from the Queen?
An estimated £650million fortune was left by Queen Elizabeth II and passed to King Charles, who is not by law required to pay tax on it, following her death in September 2022.
According to The Telegraph, £400m of that amount was from personal investments the Queen had made in “British blue chip shares.”
She is also said to have passed on a huge art collection, her personal jewellery collection and private homes, as well as her stamp collection which is estimated to be worth £100m.
When he became Head of State, King Charles also inherited the 671-year-old Duchy of Lancaster, a unique portfolio of land, property and assets held in trust for the Sovereign.
Its balance sheet showed £652.8million in 2022 with profits of £24million.
Who is the richest member of the British royal family?
Prince William is the wealthiest member of the Royal Family with a net worth of around £1.05billion.
Prince Harry and Meghan Markle, meanwhile, are thought to have a combined worth of £20m.
Princess Anne is worth £50m, Prince Edward and Sophie, Countess of Wessex are worth £10m and Prince Andrew is worth £5m.
The monarchy’s wealth as an institution, an estimated £22billion, has more than doubled from the £9billion it was thought to be worth a decade ago.