King Charles III officially wealthier than Queen Elizabeth, monarch's fortune soars to $770 million
King Charles' fortune has far exceeded the net worth of his mother Queen Elizabeth at the time of her death in September 2022.
King Charles III's personal wealth has far surpassed the net worth of his late mother, Queen Elizabeth.
The 74-year-old monarch's fortune has climbed to $770 million, according to The Sunday Times Rich List 2024, which listed him as the 258th wealthiest person in the U.K. Charles' wealth jumped $12 million since the outlet's Rich List 2023 was published last year.
Elizabeth's wealth was determined to be $468 million prior to her death in September 2022, according to the Times Rich List 2022.
However, Charles' wealth is dwarfed by that of Hugh Grosvenor, the Duke of Westminster, who is godfather to the king's grandson Prince George, the oldest son of Prince William and Kate Middleton.
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Per the Times, Grosvenor has a family fortune worth a staggering $12.8 billion. The 33-year-old duke was announced as one of George's seven godparents in 2013.
Grosvenor is also reportedly godfather to Prince Archie, though the 5-year-old's parents, Prince Harry and Meghan Markle, have not publicly identified their son's godparents.
According to the Times, Charles' estates, Sandringham House and Balmoral Castle, are the monarch's most valuable assets. Per a former aide to Charles, the king also rebuilt his fortune, which took a financial hit after his late ex-wife Prince Diana received $22.5 million in their 1996 divorce settlement.
While speaking with the Times, the aide said that Charles augmented his wealth after that time by saving profits from the Duchy of Cornwall, a $1.4 million estate that includes 130,000 acres of land, 260 farms and investments.
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"He became prudent at tucking away some money from the Duchy after that wipeout [of capital]," the former aide told the outlet.
"We’re not talking vast sums here — several tens of millions, no more. There have been suggestions that [Charles' wife Queen] Camilla brought a good deal of money into their relationship, but that’s really not correct."
The duchy was established by King Edward III in 1337 and has been passed down to each Duke of Cornwall.
William inherited the duchy as he received the title of Duke of Cornwall from Charles following his father's ascension to the throne after Elizabeth's death.
Between 2011 and 2022, Charles increased the duchy's annual profits by 42.6% to over $31 million, according to an analysis conducted by the Times. The total worth of the duchy jumped by nearly 50% over those years, during which Charles received over $268 million from the estate.
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Charles also inherited an investment portfolio with an estimated worth of $151 million after Elizabeth's death.
In addition, every year, Charles and the royal family receive a Sovereign Grant, which is a payment from the British government used to fund official royal duties.
However, the Times noted that Charles' total wealth is hard to estimate due to the publicly unknown value of the royal family's jewelry, art collection and gifts received over the centuries.