With the death of Queen Elizabeth II, the fortune of the new 73yearold King Charles III. increase enormously. The monarch, already possessing personal wealth, must now inherit large tracts of land, estates, jewellery, paintings and other possessions previously held by his mother.
The King’s personal wealth comes largely from the revenues of the Duchy of Cornwall, which has reached a net worth of US$1.2 billion (6.3 billion reais) under his command, in addition to nearly US$400 million (400 million reais , 2.1 billion reals). Commercial real estate and 52,000 acres of land.
Charles also has investments and ventures aimed at protecting the environment and organic farming.
Through the Charitable Foundation (an inheritance now owned by Prince William), Charles ran the UK’s largest organic food brand. The foundation was also responsible for a nature retreat and a craft center in Transylvania, where guest houses were operated for visitors.
And although Queen Elizabeth II’s will will not be opened for the next few years it is estimated that it will take at least 90 years for the document to be read King Charles III, her eldest son, has already received some transfers of former Majesty’s private estates, such as the castle at Balmoral, Scotland, where she died, and Sandringham in East England, home to the thoroughbred horse farm Royal Studs.
The king is also expected to inherit the former monarch’s private jewelry collection, as well as works of art, rare stamps and personal investments. According to Forbes, these personal assets reach 500 million US dollars (2.64 billion reals). And Charles doesn’t have to pay inheritance tax. This is thanks to an agreement signed with the UK government in 1993 that exempts the transfer of property from one sovereign to another from tax.