Through inheritance, royal estates and shrewd investing while a prince, Charles III will be crowned on May 6 with a considerable fortune to his name.
Queen Elizabeth II bequeathed her son an estimated £360 million upon her death in September last year, boosting Charles's fortune to £600 million, according to an estimate by The Times.
For Charles, the duchy "encompasses everything he is passionate about," his second wife Camilla told an ITV documentary aired in 2019. Under his leadership, the duchy amassed assets worth more than a billion pounds, generating the then heir an income of around £23 million per year, an increase of more than 40 percent over 15 years.Because of a centuries-old tradition, confirmed by a 1993 clause agreed by the then-prime minister John Major, monarchs do not have to pay any tax on assets left by their predecessor, to guard against the royal estate being broken up.
Another historical symbol of the British monarchy, the Crown Jewels, are also the property of the nation and are therefore excluded from the evaluation of the royal fortune.As sovereign, Charles receives the annual "sovereign grant"—an endowment of one quarter of the profits on the income generated by the Crown Estate, a vast collection of lands and holdings.
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