Prince Charles Net Worth: How Rich Is the “Heir to the British Throne”?
Prince Charles Net Worth: Charles, Prince of Wales is the eldest son of Queen Elizabeth II and Prince Philip is the heir apparent to the British throne.
Since 1952, he has served as heir apparent, Duke of Cornwall, and Duke of Rothesay, and is the oldest and longest-serving heir apparent in British history.
He has been Prince of Wales since July 1958, making him the longest-serving monarch. Charles assumed the title of Duke of Edinburgh after his father died on April 9, 2021.
In this article, we will explore the net worth of Prince Charles.
Early Life of Prince Charles
Prince Charles was born at Buckingham Palace on 14 November 1948. The Archbishop of Canterbury, Geoffrey Fisher, baptized him using water from the Jordan River. Grandparents, aunts, and cousins were among his many Godparents.
When his mother became Queen, Charles was designated heir apparent at the age of three. He was given the title Duke of Cornwall at the time. Prince Charles attended Hill House School in West London after three years of being taught by governess Catherine Peebles.
He then attended Berkshire, England’s Cheam Preparatory School. Prince Philip, his father, went to that school when he was younger. Prince Charles then proceeded to Gordonstoun, which he despised. His gripe was that kilts were simply too cold.
He also spent two terms at Geelong Grammar School in Geelong, Australia, where he, like his father, became Head Boy. He graduated in 1967 and received an A level in History and French.
After that, he proceeded straight to Trinity College Cambridge, where he studied history, anthropology, and archaeology. He earned a 2.2 Bachelor of Arts degree in 1970. He also earned a Master of Arts degree from Cambridge and studied Welsh at Aberystwyth University.
Prince Charles Career
Prince Charles was made Prince of Wales and Earl of Chester in 1969. He established the Prince’s Trust in 1976 and traveled to the United States. Prince Charles is the oldest and longest-serving heir apparent, as well as the oldest and longest-serving Prince of Wales.
If he succeeds on the throne in 2013, he will be the United Kingdom’s oldest monarch. The Romanian throne was offered to Charles, but he declined.
Charles served in the Royal Navy and Air Force and trained as a jet pilot at the Royal Air Force College in Cranwell. Prince Charles then completed a six-week training course at the Royal Naval College Dartmouth.
He went on to serve on the HMS Norfolk, HMS Minerva, and HMS Jupiter after that. Additionally, he served with the 845 Naval Air Squadron, commanding the HMS Bronington and operating the HMS Hermes. He can fly a Chipmunk Basic Pilot Trainer, a Harrier T MK.4 V/STOL fighter jet, and a variety of other planes.
Prince Charles’ Net Worth
Prince Charles has an estimated net worth of $100 million by 2022. When his mother dies or steps down from the throne, he will be the next in line to become the British Sovereign. Camilla, Duchess of Cornwall, will succeed him as Queen Consort.
It can be difficult to distinguish what belongs to an individual person, what belongs to the regal position they hold, the corporate structure that handles their finances, or, in the case of less democratic countries, the riches of an entire nation.
However, some rumors claim that the future King’s net worth might be as high as $400 million (£302,174,000). As the heir to the throne, Prince Charles is the current Duke of Cornwall.
According to the Prince of Wales’ official website, the Duchy of Cornwall currently provides Charles with an annual income of £21 million. Charles will use this money to “maintain himself, his children, and their families.”
The Duchy of Cornwall pays Prince Charles a salary to sustain himself and his family. This money is also utilized by Charles in his philanthropic activities, which “raises approximately £100 million annually for a variety of good causes,” according to his website.
The Duchy of Cornwall brought in £22.244 million in the year to March 31, according to the Clarence House annual review 2020. The Sovereign Grant generated £1.762 million in revenue.
- Michelle Williams Net Worth: Is She Expecting Her Third Child With Thomas Kail?
- Andy Warhol Net Worth: How Did He Amass a Fortune of $220 Million?
- Jen Psaki Net Worth: Why Is She Going to Leave Her White House Job?
Cornwall Duchy Trust
The Duchy of Cornwall is inherited by the reigning monarch’s eldest child, according to British royal law. This title generally entails a sizable real estate holding that provides the Prince with a sizable income. Edward III established the Duchy of Lancaster in 1337 to provide money for the heir apparent.
If Charles ever becomes King, his son Prince William will become Prince of Wales and the beneficiary of the Cornwall Trust. When William becomes King, the trust will be passed down to his son George. And so on.
The trust is considered a “royal body” by the UK government, which means its revenue is not taxed. Prince Charles has voluntarily paid taxes on his income since 1993 after his tax-exempt status was challenged multiple times.
For over a decade, he willingly paid a 50% tax rate on his earnings. When he married in 1991, he began paying 25% of his income. He has been paying the ordinary UK income tax rate every year since 1993.
The duchy owns 133,000 acres of land in 23 counties across the United Kingdom. Farming, residential development, and commercial real estate are all possible uses for the site. The land is predicted to be worth $1.1 billion in 2019.
The trust generates little over $20 million in annual income on average. The income has surpassed $30 million in some years. Charles uses the money to pay his wife and children a salary.
Personal Life of Prince Charles
Prince Charles married Lady Diana Spencer in 1981. They produced two boys together, Prince William and Prince Harry. Charles and Diana divorced in 1996 after separating in 1992. Princess Diana died almost exactly a year later in a vehicle accident.
Charles remarried in 2005, in a civil ceremony in Windsor, with Camilla Parker Bowles. Prince George, Princess Charlotte, and Prince Louis, whose parents are Prince William and Kate Middleton, and Archie and Lilibet, the children of Prince Harry and Meghan Markle, are his five grandkids. Following his grandfather and father, George is the third in line to the kingdom.
Frequently Asked Questions
Who Among the Royal Family Is the Wealthiest?
Queen Elizabeth II with a net worth of $600 million.
Who Will Be England’s Next King?
When His Mother Became Queen, How Old Was Prince Charles?
At His Mother’s Coronation, the Prince Was Four Years Old.