As King, he also gains control of the Duchy of Lancaster, a private estate with $753 million in net assets that is owned in trust by the monarch. For one, it doesn’t cover physical security. The Sovereign Grant isn’t Charles’ only source of income. The most expensive trip taken by the royals in the past year, for instance, was Prince William and Kate’s nine-day visit to Belize, Jamaica and the Bahamas in March, which cost roughly $260,000, including planning prior to the visit. A 10% cut of that net profit-$39.8 million for 2022-is set aside for maintaining Buckingham Palace, and an additional 15% is used to finance the royal family’s annual travel, formal events, housekeeping and payroll. That enormous windfall doesn’t go directly to Charles, however.
In 2022, the Sovereign Grant amounted to $99.6 million, based on the Crown Estate’s net profit in the 2019-20 financial year.Ī Prince's Ransom: William and Kate's nine-day tour of Jamaica, Belize, and The Bahamas cost roughly $260,000. But the royal family also gets a cut: They receive an allowance from the Treasury known as the “Sovereign Grant,” equal to 25% of the net profit for the financial year two years earlier. All of the Crown Estate’s net profit-$361 million in fiscal year 2022-goes to the British Treasury. Those properties include Regent Street, London’s prime shopping destination, as well as Ascot Racecourse (a favorite of the Queen) and virtually the entire seabed of the U.K. The single most valuable asset held by King Charles is the Crown Estate, a sprawling real estate portfolio with $17.5 billion in net assets. So what’s it all worth? Forbes gave it a royal effort. In contrast to the various estates, which file annual reports, the palaces and jewels are often thought of as priceless. They are also held “in trust” for his successors and the nation-meaning they can’t actually be sold. These assets-which include Buckingham Palace, Windsor Castle and the Tower of London-aren’t held directly by the King, but are instead owned by the reigning monarch “in right of the Crown” for the duration of their reign. Prince William will now take possession of the Duchy of Cornwall, a conglomerate with $1.2 billion in net assets including the Oval cricket ground in London, Charles’ former residence at Highgrove House ( where he first began farming organically in 1985) and the Isles of Scilly, but the new King will not exactly be left wanting for prime real estate.Īs the new monarch, Charles assumes ownership of institutions that manage an estimated $42 billion in assets, including some of the world’s most famous royal palaces and the Crown Jewels. DENNIS OULDS/GETTY IMAGES, RADCLIFFE BAUER GRIFFIN/GETTY IMAGES Estate of the Union: Sandringham, one of King Charles' royal residences, sits on 20,000 acres and has its own stud farm for horses.
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