Queen Elizabeth II had a $500 million fortune. Here’s what King Charles and Prince William will inherit
The royal family’s total wealth is estimated to be at $21 billion when including land, property and investments that are primarily funded through the Sovereign Grant
Queen Elizabeth II died at the age of 96 at Balmoral Castle, her residence in Scotland.
Forbes estimated that the late monarch’s fortune was worth $500 million, which included jewels, art, investments and her two residences, Balmoral Castle in Scotland and Sandringham House in Norfolk.
“(Royal wills) are hidden, so we have no idea actually what’s in them and what that’s worth, and that’s never ever made public,” Laura Clancy, a lecturer in media at Lancaster University and author of a book on royal finances, told CNN.
The royal family’s total wealth is estimated to be at $21 billion when including land, property and investments that are primarily funded through the Sovereign Grant.
Now, King Charles III sits on the throne. Here’s what that means for his inheritance.
What did King Charles inherit from Queen Elizabeth II?
Before Charles ascended the throne, his net worth was around $440 million, per Fortune. His wealth was amassed from the Duchy of Cornwall, a private estate fund for charities and private organizations. This will be passed on to his children.
According to The Guardian, the new king will also inherit the Duchy of Lancaster, “a private estate that includes portfolio of lands, properties and assets held in trust for the sovereign,” previously owned by the queen.
The monarch is not legally obligated to pay income tax, capital gains tax or inheritance tax, but the new king is expected to follow in his mother’s footsteps and pay the income tax.
The queen’s personal assets are also expected to be passed down to Charles.
What did Prince William inherit after Queen Elizabeth II’s death?
The Duchy of Cornwall will be passed on from Charles to his son, Prince Williams. The estate is valued at more than $1.2 billion, per Fortune.
The assets made Charles $23 million last year.