King Charles III’s Net Worth Has Increased Dramatically, U.K. Rich List Reveals
King Charles III’s net worth has increased over the past year, according to the newly-published 2024 Sunday Times Rich List.
King Charles III’s net worth has increased by $12.5 million (£10 million) over the past year, bringing his total net worth to approximately $772 million (£610 million) according to the newly-published 2024 Sunday Times Rich List, which ranks the 1,000 wealthiest people or families resident in the U.K.Charles is ranked number 258 on this year’s list, a slight climb from his last year’s ranking of 263.
[time-brightcove not-tgx=”true”]Charles’ net worth is significantly higher than that of his mother, Queen Elizabeth II, whose fortune was estimated to be $470 million in 2022.
Net worth numbers can increase by several percentage points each year, since many individuals have a significant portion of their wealth invested in assets, such as stocks, bonds, and real estate that accrue value over time.
Charles’ most valuable assets are the Sandringham and Balmoral estates. Sandringham is 20,000 acre estate in the East of the country and is estimated to be worth approximately $315 million, according to the Sunday Times. The Balmoral estate includes the Aberdeenshire castle and 50,000 acres in land, and is estimated to be worth $265 million, according to the Times.
In the 1990s, Charles carefully managed his finances after he received $22.5 million (£17 million) in a divorce settlement with Princess Diana. He also saved up money from profits made from the Duchy of Cornwall, a private estate established nearly 700 years ago to help provide financial security to the heir apparent to the throne. The Duchy makes money by renting out its land properties and investing in other assets.
Because the Duchy is considered part of the crown and therefore royals are not obligated to pay any taxes on profits made from the estate. Nevertheless, Charles has volunteered to pay income tax on his holdings since 1993.
Elsewhere on the list, Sir Paul McCartney of the Beatles became the U.K.’s first billionaire musician. He, along with his wife Nancy, were ranked number 164 on the list and are estimated to have a net worth of $1.27 billion (£1 billion). David and Victoria Beckham ranked number 297 on the list, with a total of $575 million (£455 million) in assets. They were just a few slots below famous musician Elton John, who ranked number 291 on the list with $595 million (£470 million) in assets.