2023-05-06 08:55:00
After having touched the inheritance of his mother Elizabeth II, valued at 360 million pounds, the fortune of Charles III will amount to 600 million pounds (668 million francs), believes the Times.
According to a relative of the royal family quoted by the daily, the former Prince of Wales led an ambitious investment policy to replenish his coffers following divorcing Diana.
A very lucrative duchy
The separation cost him 17 million pounds in 1996, but Charles is not starting from scratch and can count on the resources of the Duchy of Cornwallfrom which he received the benefits of his mother’s accession to the throne in 1952 upon her death in 2022.
This heritage was set up in the 14th century to give financial independence to the royal heir.
Concretely, the latter does not own the assets of this fund, but receives its profits until his accession to the throne.
Under his leadership the Duchy has grown in size and in its latest annual report it has over £1 billion in assets, a record, with income paid to the heir standing at £23 million, an increase of more than 40% in fifteen years.
No inheritance tax
This income is now paid to his heir William, but he had time to fill Charles’ account even before his royal inheritance.
Due to a centuries-old tradition confirmed in the 1990s to avoid dissolving the royal estate, “he is not going to pay any inheritance tax,” says Geoff Kertesz, a London heritage lawyer.
But the balmoral castlewhere the royal family spends its summers, and Sandringhamare among the properties inherited by Charles, unlike Buckingham ou Windsorhistorical residences of the royal family, which belong to the State.
Another historical symbol of the British monarchy, the Crown Jewels are also the property of the nation, and are therefore excluded from assessments of the royal fortune, since they alone represent several billion pounds.
The state grant
On the other hand, the State pays back to the sovereign a sovereign grant: an endowment for the sovereign of a quarter of the income generated by the Crown Estatea vast fund made up of real estate assets such as wind farms at sea. The rest goes to the Treasury.
The royal endowment has reached £86.4m for 2021-22.
Finally, a third fund completes the royal fortune: the Duchy of Lancastercontrolled by the sovereign, and which earned the queen 24 million pounds in 2022.
The daily also includes luxury vehicles, technically owned by the state, but used by the royal family.
are added works of artincluding a painting by Claude Monet, Le Bloc, bought for 2000 pounds by the Queen Mother, the mother of Elizabeth II, in the post-war period and now valued at twenty million pounds.
As a result, Charles’ fortune would then be 1.8 billion pounds (two billion francs).
>> The explanations in the 7:30 p.m.:
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