King Charles III’s net worth has reached approximately $772 million, primarily due to his income from the Duchy of Cornwall and the Crown Estate. This substantial wealth reflects the net worth of Prince Charles and his significant financial gains from royal investments and holdings.
Prince Charles, now known as King Charles, is the King of the United Kingdom, the Head of the Commonwealth, the monarch of the sixteen realms of the Commonwealth of Nations, and the Head of the Church of England. In British history, he had been the longest-serving heir apparent of the British Crown. He ascended to the throne after his mother, Queen Elizabeth II, passed away on 8th September 2022. He held the title of Prince of Wales in 1958 and served with this title for the longest period. Formerly known as Prince Charles became King Charles III after ascending to the throne.
As a prince, he earned a huge net worth of $100 million, but after ascending to the throne, his net worth increased to almost $772 million. Although sometimes he is referred to as the ”King of England,” it should be noted that he is the ”King of the United Kingdom,” which includes England, Northern Ireland, Wales, and Scotland.
This article will help us explore everything about Prince Charles: his early life, personal life, role as a philanthropist, net worth, and all the wealth he inherited. So, you better get started on this!
Early Life
Prince Charles was born on 4th November 1948 in Buckingham Palace, London. He is the son of Queen Elizabeth II and Prince Philip, Duke of Edinburgh. He was baptized from the water of River Jordan by the Archbishop of Canterbury, Geoffrey Fisher. At the age of 3, he was made the heir apparent as his mother became the Queen of England. He was given the title of Duke of Cornwall at this time. He had many Godparents, including aunts, cousins, and grandparents.
Education
After getting lessons from a governess, Catherine Peebles, for three years, he went to West London to attend Hill House School. Then he attended Cheam Preparatory School in Berkshire, England, where his father, Prince Philip, used to go when he was young. After that, he was enrolled at Gordonstoun. Charles did not like his time there. After completing his 0 and A-levels, he went to Cambridge University in 1967 to get a degree in Archaeology and Anthropology. He graduated in 1970, continued his studies, and got a Master’s degree. He also learned the Welsh language at the University of Wales, Aberystwyth.
Military Service
He attended the Royal Air Force College in Cranwell where he was trained to be a jet pilot. He also served in Air Force and Royal Navy. Charles went to Royal Naval College Dartmouth for a six-week training course. Moreover, he served on the HMS Minerva, HMS Norfolk, and the HMS Jupiter.
When did Charles become the Prince of Wales?
Charles was made the Earl of Chester and Prince of Wales on 26th July 1958. However, his investiture ceremony was held on 1st July 1969. The ceremony was held at the Caernarfon Castle, where he was crowned by his mother, the Queen, and he gave a speech in Welsh. He was the longest-serving heir apparent and held the title of Prince of Wales for the maximum time. He founded the Prince’s Trust in 1976. He was asked to rule Romania, but he turned down this offer.
Personal Life
Prince Charles met Lady Diana in 1977 while he was visiting her sister, Sarah. They later met in 1980, and he proposed to Diana in February 1981. The Royal Wedding took place on 29 July at St Paul’s Cathedral. They lived at Kensington Palace and Highgrove House. Charles and Diana had two children, Prince William, who was born in 1982, and Prince Harry, who was born in 1984. Charles was the first royal to be present at their children’s births.
The couple was not happily married as they faced troubles just after five years. Charles had an extramarital affair with ex-girlfriend Camilla Parker-Bowles, which played a major role in leading his marriage to divorce. Charles and Diana were unfortunately divorced in 1996, and a year later, in 1997, Diana passed away in a car accident.
Then, eventually, Charles married Camilla in 2005 after making his relationship public in the 1990s. They got married at the Windsor Guildhall. Charles was the only royal who had a civil wedding instead of a church wedding in England.
Net Worth of Prince Charles
Upon becoming King after his mother’s death, the net worth of King Charles III increased to approximately $772 million (£610 million), up from $600 million. Let us explore how Charles amassed this fortune.
The Duchy of Cornwall
Before ascending the throne, Charles’s income mainly came from the Duchy of Cornwall. It is the royal law that the eldest child of the ruling monarch gets possession of the Duchy of Cornwall. It is one of the largest estates in Britain that includes residences, commercial properties, and lands. The Duchy has a financial portfolio that generates revenue for Charles. After the death of Queen Elizabeth, the Duchy is now possessed by Prince William.
The Duchy of Cornwall was founded on 17th March 1337 by Edward III. The sole purpose of it was to provide an income to the heir apparent. The Duchy has a net worth of approximately 1.3 billion dollars. With an impressive portfolio, the Duchy has 150 staff members and over 130,000 acres of land. Charles earned a huge fortune by renting out the land for residential housing, farming, and commercial real estate. It generates almost $50 million in revenue each year, and this $30 million is distributed among the Prince of Wales and his family.
The Crown Estate
The Crown Estate is another real estate portfolio that is not owned by Charles, yet he still benefits from the income it generates. It includes estates, retail parks, castles, mansions, racecourses, shopping centers, office buildings, vast tracts of farmland, forests, foreshore, and seabed. The Crown Estate is known to possess approximately US 20 billion dollars in funds. Before coming on the throne, the prince earned US 3.5 million dollars a year from 25% of the profit generated by the Crown Estate.
Charles’s Role as a Philanthropist
Prince Charles played an active role as a philanthropist. He established one of the largest independent foundations present in the United Kingdom in 1979, called ‘’Prince of Wales’s Charitable Foundation.’’ This foundation grants funds for Eco-friendly and sustainability programs such as the International Sustainability Unit and the Prince of Wales’s Accounting for Sustainability Project. Over the years, Prince Charles has managed to grant $72.5 million. Tusk is an organization that is dedicated to stopping poaching in Africa. This organization is associated with the Prince’s Foundation.
Conclusion
As the British Sovereign and Head of State, the net worth of Pricne Charles has recently increased to approximately $772 million (£610 million). His wealth is largely derived from investments and inheritances, with the Duchy of Cornwall and the Crown Estate contributing significantly. Despite his considerable fortune, King Charles has dedicated substantial resources to charitable causes, particularly those focused on environmental sustainability. Although he did not pursue a specific career, he has diligently fulfilled his royal duties and continues to do so as the King of the United Kingdom.
