King Charles Could Be Worth up to $2.2 Billion, a New Report Says
The coronation is just a week away, and you know what that means—time for a global reckoning about the British royal family. As the Palace frantically prepares for a massive ceremony (though King Charles III has spoken several times about his desire for a “slimmed-down” monarchy, it’s still a rather elaborate set of proceedings), news outlets around the world are taking a look at the state of the royal family today, and that includes examining what exactly Charles’s net worth is as he takes the throne.
Whenever there’s an attempt to place an exact dollar (or rather, pound) value on royal wealth, there are a number of issues one runs into straightaway: primarily, whether one considers assets that belong to the sovereign as part of the personal wealth of the current monarch, or whether that’s separately delineated as the assets of a corporate entity. This month, both the Sunday Times and The Guardian took a crack at estimating Charles’s personal net worth, looking only at those assets that belong to him as an individual and not those belonging to the crown at large. The Sunday Times estimated his net worth at $750 million, while the Guardian‘s estimate was a fair bit higher at $2.28 billion, or £1.815 billion.
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When the Guardian reached out to Buckingham Palace for comment on their estimate, they received the following response: “While we do not comment on private finances, your figures are a highly creative mix of speculation, assumption and inaccuracy.” The Palace declined to offer any specific corrections or alternate estimates of what the king’s finances might actually be.
For their accounting project, the Guardian says it looked only at assets that belong to Charles personally: his car collection, his real estate portfolio, his art collection including paintings by Monet and Dalí, and the royal jewels in his personal possession. It also noted one major boon to the king—and any royal’s—wealth: exemption from inheritance tax, meaning family wealth has passed on from generation to generation without paying a portion back into the public’s hands.
The Palace may object to the figures drawn up by the Guardian, but there’s no denying the massive wealth available to King Charles and the rest of his family. As events like the coronation continue to cost taxpayers money, the royals may see greater demands for financial transparency in years to come.
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