Sprawling castles, vintage cars, and more… Just how rich is King Charles?

King Charles is living life king size – after all, he has the wealth to do it! Days before the British monarch is coronated – 6 May is the big day – an extensive investigation has been carried out into just what is King Charles’ wealth and how rich is he.

King Charles, who ascended the throne after his mother, Queen Elizabeth II’s demise, has inherited large swaths of land, regal estates, rare jewels, paintings and other personal property — some going back centuries.

Here’s a deep dive into King Charles’ wealth and why it’s becoming a sore point before his coronation day.

Good to be the king!

British daily The Guardian worked with 12 experts who are experienced at valuing land, property, vehicles, art, and jewellery and have estimated that King Charles’ personal wealth is worth a whopping £1.8 billion – that’s Rs 18,406 crore.

This figure is three times larger than previously thought, as past reviews didn’t account for some of his major assets. And the new amount also doesn’t include Buckingham Palace, Kensington Palace and Windsor Castle, which aren’t considered his private property, but are instead owned by the Crown.

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The British monarch’s private wealth has always been a source of great debate, as it is never revealed to the public. However, estimates have always been drawn and the most recent one, carried out by The Sunday Times had pegged King Charles’ personal wealth at £600 million (Rs 6,099 crore). Prior to that, in 2020, David McClure in his book, The Queen’s True Worth, had pegged Queen Elizabeth’s net worth at £400 million (Rs 4,066 crore).

One of King Charles’ biggest sources of wealth is the palaces, castles and residences he owns. Though Buckingham Palace in the heart of London isn’t his personal wealth, he does own Balmoral Castle in the Scottish Highlands. It has served as the Royal Family’s retreat for over 150 years. It was the place where Queen Elizabeth II died in September last year as well as where the family went after the sudden demise of Princess Diana in 1997.

Besides Balmoral, King Charles has also inherited Sandringham estate in Norfolk, which is valued at £250 million (Rs 2,541 crore). Notably, the king will pay no inheritance tax on either of these estates after his mother entered an agreement with the government in 1993 on the matter.

The next major pot of money is the Duchy of Lancaster. This portfolio is owned by whomever sits on the throne. The Guardian pegs its value at £653 million (Rs 6,640 crore). However, there have been several debates over this, with many saying that it should be a public asset.

King Charles’ private wealth also includes 54 jewels, many of which were acquired by Queen Elizabeth’s grandmother Queen Mary, which are worth an estimated £533 million (Rs 5,420 crore). This is not including the Crown Jewels.

Also read: Camilla to wear Queen Mary’s crown without Kohinoor: Has British royalty scored a diplomatic win with India?

King Charles is also in possession of investments of stocks and shares worth an estimated £142 million (Rs 1,443 crore). While The Guardian has narrowed it down to this figure, there are some who believe that it is much, much more.

King Charles is also in possession of a fleet of cars, though not all belong to him. However, the daily has pegged their value at £6.3 million (Rs 64 crore). Besides this, there’s also watches and other extravagances such as artworks by masters as Monet, Salvador Dali, Marc Chagall and LS Lowry, horses and the royal stamp collection – considered to be the best in the world – was said to be worth at least £100 million (Rs 1,016 crore).

Apart from his own personal wealth, King Charles also oversees the wealth of the Royal Family. According to Forbes, “The Firm” holds an estimated $28 billion in assets. This includes the Crown Estate, various palaces and crown-owned land, the Duchy of Cornwall, the Duchy of Lancaster, and the Crown Estate Scotland.

An unhappy palace

Following the revelations made by The Guardian, a king’s spokesperson told The Guardian: “While we do not comment on private finances, your figures are a highly creative mix of speculation, assumption and inaccuracy.”

Outrage over coronation

The timing of the revelations has caused quite a row. An anti-monarchist group has hit out at the royals has questioned why the public should pay for Charles’ coronation. Campaign group Republic, which aims to abolish the British monarchy, said people looking at the report would likely be asking why they were expected to bear the cost of the 6 May coronation during a cost of living crisis when the Royal Family are more than capable of covering it themselves.

“The coronation is pointless, it is his own vanity parade, and comes at an estimated cost of £100 million (Rs 1,016 crore), which he could easily pay given his personal wealth,” Republic’s Graham Smith told Yahoo News UK.

According to Operation Golden Orb committee, King Charles III’s coronation is estimated to cost over £100 million. The committee, who are responsible for planning the event, have made it clear they wish to make the coronation as cost efficient as possible.

The approximate cost of King Charles’ coronation is roughly double what was spent on the Queen’s coronation 70 years ago. Factors like inflation and security have been given as a reason for Charles’ coronation costing considerably more.

Also read: Long Live the King: How different will Charles be from his mother Queen Elizabeth II?

There’s also a growing clamour of voices urging that King Charles pay inheritance tax. Robert Palmer, executive director of the campaign group Tax Justice UK, was quoted as telling the Daily Express: “It’s staggering to imagine that the King will pay no inheritance tax on the wealth he’s inherited from his mother. Our own polling last year found that 63 per cent of the public think that King Charles should have paid inheritance tax on this wealth.”

As per law, inheritance tax is usually charged at 40 per cent above a £325,000 threshold, but sovereigns are exempt from it when they pass their estates on to each other.

With inputs from agencies

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