King Charles saw a bump in his personal net worth over the past year, The Sunday Times reports.
The publication released its annual “Rich List” this week, spotlighting some of the U.K.’s most wealthy celebrities, including Lewis Hamilton, David and Victoria Beckham, Elton John and, of course, the King.
While the list includes 156 billionaires — a drop from 165 last year — the King is not among them. Still, his fortune grew by nearly $40 million over the past year, placing him at No. 238 with an estimated net worth of nearly $850 million.
The King’s actual net worth is a hotly contested topic, as most of his royal assets and estates belong to “The Crown.” Therefore, many disagree on whether or not they should count towards his personal portfolio.
For example, The Times did not count the Crown Estate or the Duchy of Lancaster when calculating King Charles’ current wealth.
“Both these estates come with the job as sovereign and there are rules circumscribing a monarch’s ability to sell or profit from them,” the outlet explained. “To consider these the King’s personal holdings would be akin to an executive viewing the office laptop or the company car parked on their driveway as their own.”
Similarly, a large portion of the royal family’s art, jewelry, tapestries, sculptures, furniture and other adornments belong to the Royal Collection and are “held in trust” for the sovereign, not owned by them personally.
The Times quotes royal biographer Robert Hardman as saying, “Our monarchy really isn’t as wealthy as many people would believe. I certainly don’t think the king is a billionaire.”
That said, the King’s personal portfolio does include the royal estates at Sandringham and Balmoral, the royal family’s most valuable assets and two of their favored residences.
Sandringham’s principal residence was valued at $73 million in 2022, however, the entire estate is far more valuable. It also brings in additional income through tours and namesake products like Sandringham Apple Juice.
Likewise, while the castle at Balmoral has been valued at $80 million, the Times includes the surround estate — including vast lochs, mountains and moores — at around $278 million.
Can’t get enough of PEOPLE’s Royals coverage? Sign up for our free Royals newsletter to get the latest updates on Kate Middleton, Meghan Markle and more!
King Charles’ personal portfolio also includes inherited wealth from his late parents, Queen Elizabeth and Prince Philip. However, even this is difficult to assess, as the wills of senior royals are kept sealed in a secret location and not available for public inspection.
The late Queen’s investment portfolio is estimated to be worth around $165 million. However, her personal art and stamp collection, as well as what remains of her once-lucrative horse breeding program, are “impossible to value with precision,” according to The Times.
Read the full article here
