King Charles Is Now Richer Than Queen Elizabeth: Find Out His Net Worth
King Charles III
King Charles' net worth in 2024 isn't exactly hard-earned, but it is impressive.
Since his unofficial coronation in September 2022 and his official coronation in May 2023, Charles has navigated a lot of personal turmoil, including bad blood and heavily-aired dirty laundry with son Prince Harry, a cancer diagnosis and an increased anti-colonial sentiment among the British commonwealth.
In May 2024, Charles made more headlines when it was revealed that his net worth has already eclipsed that of his mother, the late Queen Elizabeth II, in less than two years on the throne.
Find out exactly how he got so rich.
Related: Who's Next in Line to the Throne After King Charles?
What is King Charles' net worth in 2024?
According to The Sunday Times, King Charles' net worth in 2024 is a whopping $772 million. For comparison, before her death in 2022, Queen Elizabeth II's net worth was estimated at a comparatively meager $470 million.
Related: Meghan Markle's Net Worth in 2024—Including Her Netflix and Spotify Deals
How does King Charles make his money?
Let's be real: It ain't really from work.
The bulk of the royals' annual income is from the Sovereign Grant, which was about $109 million for the 2022-2023 fiscal year, per the BBC. The Sovereign Grant is designed to be used on upkeep of the royal family's large portfolio of properties, as well as on staff and anything else related to their (very limited) official duties. The one thing it doesn't cover is likely the priciest: Security for the royals, which can run upwards of $400 million annually.
The Sovereign Grant is funded by the government—as in, the taxpayers. The annual sum is equivalent to 12% of the profits generated by the Crown Estate (income on royal land and properties). The Crown Estate was worth about $21 billion in 2022-2023, but that doesn't all belong to the King himself, and the royals as a family don't technically own it. Essentially, the land and properties are theirs only for the duration of their respective reigns.
The percentage of profits for the Sovereign Grant can vary, but will reportedly be 12% through at least 2027 as Buckingham Palace and other properties undergo repairs.
Charles also benefits from the Duchy of Lancaster, a private estate that British monarchs inherit from one another. It's worth a whopping $830 million and makes about $25 million per year in profits.
There's also the castles and homes, which don't generate profit, but are worth a ton of money in and of themselves, as well as private collections of jewelry, art and artifacts (much of which were obtained through slavery, pillaging, theft and colonization) that can be sold as owners wish.
Related: Prince William's Net Worth Revealed
What is King Charles annual salary?
King Charles reportedly makes about $25 million per year from the Duchy of Lancaster during his reign, plus his share of the Sovereign Grant, likely upwards of $30 million.
Related: Queen Elizabeth’s Family Tree—From Charles to Lucas Tindall
Is the King a billionaire?
In terms of liquid assets, King Charles isn't a billionaire yet, but he's well on his way there. Unlike most American billionaires, however, he actually pays income tax voluntarily on the Duchy of Lancaster and other private income from investments, though the amount is kept confidential.
Next, Find Out How Prince Harry and Meghan Markle Make Money Since Leaving the Royal Family
