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According to the law III. Any dolphin, whale, sturgeon or even unmarked swan in UK waters. What sounds like a somewhat anachronistic relic actually serves as a symbol. Because the property of the British monarch is difficult to measure – on paper. The fact that the royal family is also referred to as “The Firm” is appropriate given the numerous estates and estates they own.
The palace and the government do not talk about wealth. The Sunday Times criticized the royal fortunes shortly after Charles took office as being “not transparent to outsiders or demonically complex”.
The new king comes to two billion francs
The research conducted by the Guardian newspaper in the past few days has caused confusion. Result: Charles III. It has about 1.8 billion pounds (about two billion Swiss francs). “Most of the king’s private wealth comes from his and his family’s public role as a ‘working royal family,'” the newspaper wrote. The palace described the total as an “extremely creative mix of speculation, conjecture and inaccuracy”, but did not provide any information.
It is well known that wealth is based on several foundations. The private property contains the world’s largest collection of stamps and masterpieces, as well as valuable horses and historic vehicles. Then there are the shares. A large portion of the wealth was especially collected by Charles’ great-grandmother, Queen Mary, and the king’s mother, Queen Mary II. It consists of jewels inherited from Elizabeth.
While the most famous residences such as Buckingham Palace and Windsor Castle are not owned by Charles himself, there are two other well-known estates with large estates: Balmoral in Scotland, where the Queen died on 8 September 2022, and Sandringham in eastern England.
royal estate
However, the largest cash cow, bringing in about 20 million pounds a year, is the Duchy of Lancaster (Duchy of Lancaster), which for centuries has been the personal property of the monarch. Extensive real estate and estates include properties in England and Wales as well as some of the best known addresses in London. It has been repeatedly demanded that the duchy pass into the state. But the only thing that was agreed upon was that the monarch was not allowed to sell the country. Accounts most recently reported £653m.
Charles also benefits from not being subject to inheritance tax. His mother had once agreed to make a voluntary payment. However, a 2013 agreement stipulates that the monarch does not have to pay royalties for assets held by the Queen. These include official residences, royal archives, a collection of paintings and similar treasures.
The Sunday Times estimated the Royals’ combined wealth to total £20bn in September 2022, and noted with half surprise, half appreciation, that this is more than the stock market value of leading retailer Tesco.
clogging, pouring
The Times also includes the Crown Estate (we’ll talk about that later) and the Duchy of Cornwall. This dukedom traditionally belongs to the heir to the throne, Prince William. With the participation of Charles III. The Sunday Times suspects that the 40-year-old suddenly became a billionaire. The Duchy also owns a large number of properties, most of which are in London like the Oval cricket stadium.
Given the wealth of the royal family and the rising poverty in the country as a result of high inflation, demands are now being made for the king to pay for the coronation himself again. Conservative government thwarts criticism. Oliver Dowden, who sits in the cabinet as the “Chancellor of the Duchy of Lancaster” in charge of royal affairs, said the “great moment in our history” should not be spoiled by “gritty traitors”. The king deserved a “proper coronation.” Fans consistently point to the monarchy’s value as a “soft power” that draws millions of tourists to the country.
For the coronation, the upkeep of the royal family, and the preservation of their estates, Charles does not need to burden his wealth. For this, the king takes money from the public purse. The amount is calculated based on the income of the property manager, Crown Estate.
Will wind farms soon bring millions to the Royal family’s account?
The deal goes like this: In exchange for the royal family’s transfer of royal property to the state in the 18th century, it has since received an annual payment – the so-called sovereign grant. The share is now 25 per cent, which has recently been £86.3m. An item also states that the total should not decrease. Even if the Crown Estate’s profits fell in the current financial year, the royal family would still receive £86.3m. However, inflation does not spare royalty: Compared to 2021, the actual value of the Government Grant has fallen by £12.3m.
In the future, the crown may have significantly more money at its disposal. The Crown Estate includes not only more than 240 buildings in London and shopping centers and large estates in other cities, but also the seabed in the English twelve mile region.
The UK can expect revenues of up to £1 billion, thanks to a deal where companies procure land for the construction of offshore wind farms in exchange for option fees. The crown would therefore receive 250 million. However, Charles immediately refused an increase in the Sovereign Grant. (SDA/smt)
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
