The firm Not exactly a loving expression for one’s own family. And yet probably somehow applicable to the British Royals. The firm – This is what Queen Elizabeth II and her husband Prince Philip are said to have called the royal family. One thing is clear: this is about money.
The question of how rich the new King Charles is is both simple and complicated. The simple answer: very rich. At least compared to the average citizen. According to the latest research by the Guardian the king has one Personal wealth of around £1.8 billion (2.05 billion euros).
In the club of the richest people in the world, Charles plays no role. The owner of luxury goods manufacturer LVHM, Frenchman Bernard Arnault, is valued at 215 billion euros.
But what actually belongs to Charles? That question is harder to answer. Because the palace is reluctant to provide official information.
Among the personal possessions he inherited from his mother is the Scottish Balmoral Castlein which the Queen died last year and whose value is estimated at 127 million euros.
Also private property Sandringham House in the east of England, where the royal family traditionally spends Christmas. Its value is said to be around 59 million euros.
Two duchies have also belonged to the private property of the crown for centuries. Firstly, there would be that Duchy of Lancaster in North West England. It covers an area of about 184 km² with arable land, commercial areas and residential buildings.
But there are also investments in the Cayman Islands or the Bermudas, well-known places for black money accounts and often illegal financial transactions. The king also holds dozens of interests in real estate companies, hotels and companies through the duchy. Around 23 million euros are said to have recently flowed to the crown.
On the other hand, there is this Duchy of Cornwall in South West England. This traditionally belongs to the heir to the throne, so last year Charles, now William. This includes 540.9 km² of land and around 3,500 properties, such as the cricket stadium in London. Most recently, a profit of 25 million euros was generated.
And then there are gray areas where it’s not always clear whether something belongs to the state or the crown. For example the royal stamp collection with an estimated value of 114 million euros. Or the crown jewels with an inestimable value. Or numerous paintings by artists like Michelangelo, da Vinci or Raphael.
The royal family does not have to pay taxes. However, years ago an agreement was reached with the government on voluntary levies, for example 45 percent of the income from the Duchy of Cornwall.
You’d think all of that would be enough to lead a reasonably comfortable life. But the king also gets a kind of salary from the state. What does the king deserve?
The most important factor here is that “Crown Estate”. Behind this is the crown estate, i.e. all possessions that belong to the British monarch qua office. The “Crown Estate” is managed by an independent organization that has to report to Parliament. So the Crown Estate does not belong to Charles personally. He is not allowed to sell anything from the crown estate himself, but is paid from the proceeds from it.
By the way, the deal is a good one for the crown. The income paid out from the “Crown Estate” must not fall, even if the company were to make a loss.
The “Crown Estate” includes:
- 241 properties in central London, especially along posh Regent Street, St. James’s Street or Piccadily Circus. These are rented to Apple or Lacoste, for example. The value should be around four billion euros.
- All around that Windsor Castle About 6400 hectares of land belong to the Crown. These include Windsor Great Park, Windsor Castle Home Park, woodlands, residential and commercial buildings, golf clubs and the Ascot Racecourse. The castle alone is estimated at 520 million euros.
- Belong across the country shopping centers and commercial properties to the crown estate.
- In addition, the Seabed around the British Isles, as well as a much of the coast to the crown. This also includes the rights to use, for example through wind turbines, oil drilling or fishing.
According to their own information the “Crown Estate” is worth 17.8 billion euros. In 2021/2022, a profit of 358 million euros was generated. 98.73 million euros went directly to the monarch, i.e. to the Queen last year.
Much of what is owned or funded by royalty has been in the hands of the Crown for centuries. How the royals came into possession of land, real estate or works of art is often no longer understandable today. Also because the palace is bricking.
However, research by the “Guardian” showsthat the royal house was also involved in the slave trade in the 17th century and used slaves on lands in the American colonies. Charles has, however, indicated that he would support an independent investigation into the slave trade.
