Unveiling The Royal Family’s Wealth: Exploring the Net Worth as Charles Assumes the Throne
The coronation of King Charles III took place on May 6, 2023, more than eight months after the passing of Queen Elizabeth II and just before the Queen’s coronation’s 70th anniversary. Even though the late monarch took the throne on February 6, 1952, she wasn’t officially crowned until June 2, 1953, following a period of mourning for her father, King George VI, a custom that King Charles decided to uphold.
After the ceremony, the King boarded the Gold Stage Coach and traveled back to Buckingham Palace where he appeared on the balcony with the other royals in front of adoring crowds. Camilla received the same crown as her husband. Since the Queen Mother in 1937, she is the first Consort to be crowned.
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Here is a look at the billions in assets owned by the Windsors
Queen Elizabeth and The Firm
Forbes estimates that the royal family sometimes referred to as “The Firm,” is worth $28 billion. This is distinct from Queen Elizabeth’s wealth and possessions. The Firm is composed of King Charles, Queen Consort Camilla, Prince William, and Princess of Wales Kate Middleton, as well as Princess Anne, the late Queen’s daughter, Prince Edward, and Sophie, her youngest son.
The longest-reigning monarch of the British monarchy, Queen Elizabeth II, had an individual wealth of $500 million. According to The Guardian, Charles’ inheritance has increased his wealth to over $2 billion. His holdings include everything from properties and artwork to jewelry, racehorses, stamps, and automobiles.
The Crown Estate
Their real estate assets are one of the main sources of the Windsor family’s wealth. The Crown Estate, a business that oversees the royal’s holdings through an impartial council, is in charge of managing the collective properties that belong to the monarchy. By the conclusion of the fiscal year 2022, the Crown Estate, which has a value of around $20.5 billion, will have generated $410 million in net income.
The Windsors do not, however, get all of the money made by The Crown Estate. Instead, in exchange for a Sovereign Grant from British taxpayers, the revenue is sent to the British government. The donation is the same as 25% of The Crown Estate’s earnings. The Sovereign Grant for 2022–2023 is around $86.3 million.
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Since many of these properties have been handed down through several generations and have not been purchased or sold for hundreds of years, it is challenging to determine their actual value. The Wall Street Journal estimates the value of the royal family’s real estate holdings to be in the billions of dollars. Balmoral Castle, the Duchy of Cornwall, Windsor Castle, and the 830,000-square-foot Buckingham Palace in London are some of these well-known residences.
The Duchy Of Cornwall
The Duchy of Cornwall is a sizable area of land in southwest England that generated an operating profit of nearly $32 million in 2022. Prince William, the eldest son of King Charles, will now receive the estate because the Duchy now belongs to the heir rather than the king. Similar to Cornwall, the Duchy of Lancaster is a piece of land that belongs to King Charles. The building generated an operating profit of around $31 million in the fiscal year 2022. The Duchy of Lancaster’s assets are believed to be worth $814 million.
Crown Jewels
The crown jewels are a significant source of riches for the British royal family. The crown jewels are a collection of crowns, scepters, expensive and rare jewelry, and other royal accouterments. The Koh-i-Noor diamond, a 105.6-carat stone that was either given to Queen Victoria or taken by the British in the middle of the 19th century, depending on the perspective of historical sources, is one of the most well-known of the crown jewels. Even though the Koh-i-Noor diamonds and other crown jewels’ true worth is difficult to estimate, their rarity and connection to the royal family significantly raise their value.
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Conclusion
Although the royal family does receive 25% of the income from the Crown Estate, these assets are not theirs to sell. The British treasury receives the remainder. For instance, the Crown Estate made almost $475 million in earnings in the fiscal year that ended on March 31, 2020. According to Forbes, the roughly $120 million set aside for the royals covered official costs like travel, salary, security, and other things.
