King Charles’ personal net worth revealed ahead of upcoming coronation

The massive fortune of the new British monarch exceeds that of the late Queen. See how he has grown his wealth.

Camilla, Queen Consort, was “hurt” by Prince Harry’s memoir. Picture: Getty Images

King Charles has amassed a personal net worth of more than one billion dollars, surpassing the net worth of the late Queen by hundreds of millions of dollars.

Analysis by The Sunday Times found the King is worth £600 million (about $A1.1 billion), while his mother had a personal fortune of about £370 million ($A685 million) in the London newspaper‘s 2022 Rich List that was released before she died last September.

The King’s wealth surpasses other millionaires like David and Victoria Beckham and Sir Elton John.

There are many factors that go into calculating the King’s own fortune – including the two private royal estates known as the duchies, and the Sandringham Estate and Balmoral Castle.

An unnamed former advisor to King Charles told the newspaper that he became scrupulous with his finances in the wake of his high-profile divorce from Princess Diana in 1996 which cost him £17 million (about $A31 million).

King Charles’ net worth surpasses his mother the late Queen Elizabeth. Picture: Getty Images

The advisor told The Sunday Times that following his divorce, King Charles began saving profits from the Duchy of Cornwall, a property empire now controlled by his eldest son, Prince William.

The value of the Duchy of Cornwall rose by $A522 million in a decade under King Charles’ stewardship and generated £23 million ($A43 million) in profits last year and £212 million ($A393 million) in the decade to 2022.

Aerial view of Sandringham Hall which is surrounded by 20,000 acres of Norfolk parkland. Picture:Getty Images

However, a large chunk of his fortune comes from the 20,000 acre Sandringham estate in Norfolk, which the Times estimated is now worth £245 million ($A453 million). The home and its farmland have been owned by the royals for more than 160 years.

The King took over the Duchy of Cornwall when he was aged just 21. Picture: AFP

Meanwhile, Balmoral castle and its 50,000 acres in Aberdeenshire, Scotland, which Prince Albert bought for Queen Victoria in 1852, is thought to be worth £210 million ($A388 million).

“A lot of people do get confused about the royal finances — wrongly thinking that (the royal family) personally own the Crown Estate and the duchies,” author Robert Hardman, who recently published a biography about the late Queen Elizabeth, told The Times.

Balmoral castle, the summer residence of the Royal Family . Picture: iStock

“In all honesty their financial arrangements really aren’t as complex as (those of) many royal families and rulers in other countries, which are often far more opaque. Our monarchy really isn’t as wealthy as many people would believe. I certainly don’t think the King is a billionaire.”

This news comes just weeks ahead of King Charles’ coronation ceremony, which is set to take place on Saturday, May 6 at Westminster Abbey in London.

The ceremony marks the official transfer of power to King Charles after Queen Elizabeth’s death.

The palace also announced last week that Prince Harry would be attending the coronation ceremony sans his wife, Meghan Markle.

CAMILLA HURT BY HARRY ‘VILLAIN’ SLUR

Camilla, Queen Consort, was left feeling “hurt” by Prince Harry’s controversial memoir, Spare, in which he labelled her “dangerous” and a “villain”.

In what is set to be an awkward encounter between the two at the coronation on May 6, close friends of the future Queen have spoken out for the first time about the wounds Prince Harry has inflicted on his stepmother by publicly vilifying her in his autobiography, as well as ruffling more than a few royal feathers in his and wife Meghan Markle’s behind the scenes Netflix series.

Camilla was “hurt” by Prince Harry’s depiction of her as a “villain” in his controversial memoir. Picture: Getty Images

“Of course it bothers her, of course it hurts,” the Marchioness of Lansdowne, one of Camilla’s closest friends, told Britain’s Sunday Times in a revealing interview with the Queen Consort’s inner circle.

“But she doesn’t let it get to her. Her philosophy is always, ‘Don’t make a thing of it and it will settle down — least said, soonest mended,’” added Lady Lansdowne, who is godmother to Camilla’s daughter, Laura Lopes.

At the time, there was no word on how Camilla felt about Prince Harry’s book but an aide has now told The Sunday Times: “It was not stamping of feet or gnashing of teeth – it was much more of an eye-roll response.”

Royal insiders expect relations between Prince Harry and Camilla to remain frosty at the coronation. Picture: Getty Images

In Spare, Prince Harry described Camilla as his “wicked stepmother”, while also accusing her of leaving “bodies in the street” in her efforts to change the public’s perception of her.

He also claimed his stepmother “sacrificed him” to improve her standing and blamed her for leaking stories to the press about Ms Markle.

“I have complex feelings about gaining a step-parent who I thought had recently sacrificed me on her personal PR altar,” Prince Harry wrote.

He also claimed that he and Prince William “begged” their father not to marry the former Mrs Parker Bowles.

After Spare was published in January, there were reports that King Charles felt a “red line” had been crossed by Prince Harry attacking his “darling wife”.

But after a “heart to heart” with his father, Prince Harry has accepted an invitation to the coronation on May 6 – in which he will come alone while Ms Markle and the couple’s two children remain in California – despite the royal family being keenly aware that it will be an “uncomfortable” reunion between the Duke and the Queen Consort.

Prince Harry will likely not have an official role at the coronation. Picture: Getty Images

“Camilla’s great for the King, everyone accepts that, and she is loved in royal circles, but Harry has a problem with her and has never really accepted her as his stepmother but acknowledges she has made his father happy,” royal commentator Richard Fitzwilliams said.

“Now Camilla is getting her voice heard as Queen she is letting her feelings known, just a little.”

As for Camilla’s ascension to the throne, her confidante Lady Lansdowne told the Sunday Times “never in a million years” did she think she would become Queen but the “extraordinary thing is that she has taken it on now at 75. It’s a hell of a thing to be doing when most of us are settling down into retirement”.

A pottery worker works on official chinaware produced for the coronation of Britain's King Charles III and Camilla. Picture: AFP

Camilla’s crowning next month alongside King Charles III will be the first coronation in the UK for 70 years. Several members of the royal family have reportedly expressed concerns about speaking to Prince Harry amid fears any private conversations will end up in a sequel to his memoir, not to mention the hurt he caused his family his very public grievances.

Still, Prince Harry could well have a couple of allies in Princesses Beatrice and Eugenie, despite their mother, the Duchess of York Sarah Ferguson, not being invited to the ceremony, which has come as a major surprise to some royal family observers.

Prince Harry agreed to attend the coronation after a “heart to heart” with his father. Picture: Getty Images

HARRY AND CHARLES’ ‘HEART TO HEART’ OPENS DOOR

Prince Harry had a “heart to heart” with his father before agreeing to attend the coronation after weeks of “transatlantic ping pong”.

Sources previously said there were weeks of negotiations between Prince Harry and Buckingham Palace about what role he might play, where he might sit and security arrangements.

Despite a thawing of relations with his father, Prince Harry is reportedly still not on speaking terms with Prince William. Picture: Getty Images

But royal insiders have claimed Prince Harry readily agreed to attend after a personal chat with the King – and that he wants to “show support for his father”.

It was confirmed last week that the Duke of Sussex will attend the coronation alone, while Ms Markle stays in California with their children, Prince Archie and Princess Lilibet. The coronation, which is just three weeks away, will see both King Charles III and Queen Camilla crowned in front of 2000 people at Westminster Abbey in London.

Meghan Markle will not attend the coronation and will remain in the US with the couple’s two children. Picture: AFP

According to a report in The Sun, a Palace source claimed King Charles is “happy” with his son’s decision and “understands” that Ms Markle will remain in the US with the children because Archie’s fourth birthday falls on the same day as the historic ceremony.

The source added there is a “willingness and wanting to mend on both sides” although whether that extends to the ill-feeling between Prince Harry and Prince William is unknown.

The Duke of Sussex is said to still not have spoken to the Prince of Wales since the release of Spare, in which he referred to his elder brother as his “arch-nemesis” and accused him of physically attacking him.

During a public appearance last week, King Charles expressed his “pride” in his two sons – despite the fact they are not currently on speaking terms.

Originally published as King Charles’ personal net worth revealed ahead of upcoming coronation