BREAKING

King Charles' net worth estimated at $745 million

By Al Mayadeen English
Source: Agencies
16 Apr 2023 21:27

According to a report by The Times, the sovereign of the UK, King Charles III's personal net worth is at $745 million, surpassing that of his late mother Queen Elizabeth.

King Charles stands outside Buckingham Palace, after the passing of his mother Queen Elizabeth, London, UK, 9 September 2022. (Reuters)

UK’s Monarch King Charles III's Personal Net Worth has been estimated at $745 million, according to The Times newspaper.

The report said that King Charles’ fortune surpasses that of his late mother Queen Elizabeth II, which was estimated at $460 million.

According to the newspaper, the Monarch set aside profits from the Duchy of Cornwall, which he previously owned when he was appointed Prince of Wales, which increased the King’s profits substantially.

Between 2011 and 2022, the former Prince of Wales worked on increasing the profits of the Duchy of Cornwall by 42.6% to 31.55 million dollars. During that time, the duchy's worth rose to 1.29 billion dollars, which translates into a 50% increase.

Although the Royal Family is exempted from paying income tax, Charles III willingly paid taxes while extracting a whopping $264.24 million from the possession of the duchy.

The King is known to lead an economical lifestyle, wearing old clothes, and is known to obsessively look out for unutilized lit rooms, The Times added.

The royal coronation of King Charles III is scheduled on May 6 which will mark the official crowning of the new British sovereign.

The news on the monarch's net worth comes at a time when Britain is facing double-digit inflation, with the rising cost of goods alongside stagnant wages resulting in strikes and protests across productive and educational sectors.