Britain’s Prince Charles is worth about US$400 million – so where does his fortune come from?
The Duke of Cornwall, heir to the throne and father of Prince William and Prince Harry, enjoys a private revenue stream fit for a king
Prince Charles’ net worth is high enough to provide the long-time heir to the British throne with a kingly existence.
Estimates about how much money the heir apparently has in the bank tend to fall in the hundreds of millions. Go Banking Rates reported that he has US$100 million. Other estimates, however, are considerably higher. According to Time and Town & Country, he is worth around US$400 million. Regardless of how many millions of dollars is currently under the prince’s name, it is likely that not all of that money is constantly available to him.
Much of Prince Charles’ income derives from the Duchy of Cornwall. As the longest-serving Duke of Cornwall, he is entitled to the private estate’s annual revenue surplus.
According to the duchy’s most recent financial statement, the revenue “does not cover official travel or property services, which are funded by the sovereign grant”. British taxpayers support the royal family through an annual sovereign grant.
Here’s how Prince Charles acquired and spends his millions:
The mention of the British royal family’s riches might call to mind national treasures like the Crown Jewels or the Tower of London ... but Queen Elizabeth does not personally own those.
And neither will Prince Charles, once he inherits the throne. The Crown simply holds many priceless objects and historical structures in trust for Britain.
The Crown’s Privy Purse – or private income – flows from the Duchy of Lancaster, a private estate that has been passed down from monarch to monarch since 1399.