Prince Charles Net Worth
Prince Charles has an estimated net worth of $120 million. Prince Charles, the oldest son of Queen Elizabeth II and Prince Philip, is the heir apparent to the British throne. The majority of his wealth is attributed to The Duchy Of Cornwall Trust. Under British royal law, Prince Charles, the eldest child of the reigning monarch inherits the Duchy of Cornwall. This title is essentially a large real estate portfolio that provides the prince with a considerable income.
A public figure all his life, Charles graduated from Trinity College before embarking on a military career that culminated in command of HMS Bronington.
In the summer of 1981 he married Diana Spencer amid much media hype, but the couple divorced in 1996 after years of rumors and scandal. Charles later married his longtime love Camilla Parker Bowles some time after Princess Diana’s death. He is the father of Princes William and Harry and also a grandfather. His many philanthropic and environmental efforts include the Prince’s Trust and the Prince’s Rainforest Project.
To calculate the net worth of Prince Charles, subtract all his liabilities from his total assets. Investments, savings, cash deposits, and any equity he has in a house, car, or other similar asset are included in the total assets.
All debts, such as personal loans and mortgages, are included in total liabilities.
Here’s the breakdown of his net worth:
|Net Worth:||$120 Million|
|Monthly Income:||$1 Million|
|Annual Salary:||$20 Million|
|Source of Wealth:||The Duchy Of Cornwall Trust|
Early Life, Siblings and Education
On November 14, 1948, in London, England, Prince Charles was born Charles Philip Arthur George. Charles, the son of Queen Elizabeth II and Prince Philip, rose quickly through the royal ranks.
After his grandfather, King George VI, died in 1952, his mother became queen when he was only three years old. Charles, as Elizabeth’s eldest son, became the heir apparent to the British throne and was given the title Duke of Cornwall. With his mother remaining queen for more than six and a half decades, Charles was also destined to become the country’s oldest heir apparent. Princess Anne, Prince Andrew, and Prince Edward are his younger siblings.
Charles attended the Hill House School in London in 1956 before transferring to the Cheam School the following year. He was made the Prince of Wales and Earl of Chester at the age of nine, which added to his education and increased his responsibilities.
Beginning in 1962, Charles transferred to Gordonstoun High School in Scotland. Later in the decade, he studied as an exchange student in Melbourne, Australia.
From 1967 to 1970, Charles studied archaeology, anthropology, and history at Trinity College, part of the University of Cambridge. In addition to his studies, he was involved in campus life, participating in activities such as polo. Charles entered the military after receiving his degree in 1970 (the first royal heir apparent to do so).
After six months of aviation training with the Royal Air Force, Charles joined the Royal Navy in 1971, serving on the HMS Norfolk and being promoted to acting lieutenant in 1973.
Charles joined the Royal Naval Air Station in the mid-1970s to receive helicopter training, and later served as a helicopter pilot for the 845 Naval Air Squadron, based on the HMS Hermes.
His time on the Hermes included a cruise through Caribbean and Canadian waters before enrolling in additional classes at the Royal Naval College in Greenwich. Charles retired as commander of the HMS Bronington in 1976, the same year he established the Prince’s Trust, a charitable organization dedicated to improving the lives of disadvantaged youth.
Toward the end of the decade, Charles added parachute training to his military resume, having previously served as pilot for the Queen’s Flight, the monarchy’s official aircraft. In 1995, the prince was promoted to Group Captain for the Royal Air Force, and in the new millennium, he was promoted once more to the rank of Air Chief Marshal.
Marriage to Diana
Many people perceived Charles as intelligent, aloof, and awkward as a public figure. He was used to the press scrutinizing every move he made, but he had no idea how much of a stir his relationship with Lady Diana Spencer would cause.
They had known each other since they were children, but they were reintroduced in the late 1970s. Despite a 13-year age difference and opposing interests, the couple married in February 1981. The public favored his shy, former kindergarten teacher fiancée, finding her more approachable than the reserved prince.
On July 29, 1981, they married in a lavish ceremony that was broadcast around the world and watched by millions of people.
Divorce and Diana’s Death
Charles and Diana were parents to two children. On June 21, 1982, their first son, Prince William Arthur Philip Louis, was born, and on September 15, 1984, their second son, Prince Henry “Harry” Charles Albert David, was born.
Unfortunately, their shared love for their children was insufficient to keep what was supposed to be a fairy tale marriage together. With royal responsibilities, personal conflicts, media pressures, and infidelities, the union became strained over time. While Diana was still married, Charles reportedly rekindled his romance with Camilla Parker Bowles. The couple divorced in 1996 after officially separating in 1992.
In August 1997, Diana, Princess of Wales, was killed in a car accident in Paris. Despite their differences, Charles traveled to France with her sisters to bring her body back to England.
During Diana’s funeral procession, he was joined by their sons, William, 15, and Harry, 12, as well as Diana’s brother, Earl Spencer. Charles took his role as a father to his grieving sons seriously, requesting privacy for his family from the media.
Marriage to Camilla and Philanthropy
Charles married Parker Bowles on April 9, 2005, after years of quietly maintaining their relationship. She later became Duchess of Cornwall, and she now frequently joins her husband on many of his official visits. In addition to his royal duties, Charles has become a prominent philanthropist.
In addition to the Prince’s Trust, he has supported a wide range of charitable organizations, including efforts to improve educational services, fund arts initiatives, support sustainable business ventures, employ older citizens, and help the environment.
In 2007, Charles launched the Prince’s Rainforest Project, a global initiative with corporate and celebrity support to reduce tropical deforestation and thus contribute to the fight against climate change.
In a nod to religious diversity and the multiculturalism of modern England, Charles has also promised a multi-faith coronation if and when he ascends to the throne.
Charles is an avid watercolorist and has published several books, including the 1980 children’s story The Old Man of Lochnagar, the 2010 book Harmony: A New Way of Looking at Our World, and the 2012 book The Prince’s Speech: On the Future of Food.
In the spring of 2019, Charles announced the opening of The Granary Lodge, a new bed and breakfast in Caithness, Scotland. The B&B is located on the grounds of The Castle of Mey, Charles’ grandmother, Queen Elizabeth’s former retreat.
With the arrival of George Alexander Louis — known as “His Royal Highness Prince George of Cambridge,” the son of Prince William and the Duchess of Cambridge Kate Middleton — on July 22, 2013, Charles took on a new role: he became a grandfather.
Charles issued the following statement shortly after the birth of his grandson: “My wife and I are ecstatic about the arrival of my first grandchild. It is an extremely special moment for William and Catherine, and we congratulate them on the birth of their baby boy.”
Charles soon had a granddaughter, Princess Charlotte (named after both her grandfather and maternal aunt), who was born on May 2, 2015. Prince Louis, Charles’ second grandson, was born on April 23, 2018, to Prince William and the Duchess of Cambridge.
Controversy Over the ‘Paradise Papers’
A leak of 13.4 million electronic files known as the Paradise Papers in November 2017 revealed that Charles was one of many world figures and celebrities who had offshore investments, specifically a Bermuda-based business.
According to reports, Charles ran a campaign in 2007 to change climate change policy without disclosing that the changes would benefit him financially through his foreign business.
Since the papers were published, Charles has maintained that he has no direct involvement in the offshore account.
His spokesman also stated that the Prince pays taxes voluntarily and that his foreign investments “do not derive any tax advantage whatsoever based on their location or any other aspect of their structure, and there is no revenue loss to HMRC as a result.”
During the Commonwealth summit in April 2018, Queen Elizabeth nominated Prince Charles to succeed her as leader of the 53-nation association of Britain and its former colonies. “It is my sincere hope that the Commonwealth will continue to provide stability and continuity for future generations and that the Prince of Wales will one day carry on the important work begun by my father in 1949,” she said.
Soon after, Commonwealth leaders announced that they would follow the Queen’s request. “We acknowledge the Queen’s role in championing the Commonwealth and its peoples. His Royal Highness Prince Charles, Prince of Wales, will be the next Commonwealth Head of Government “They stated this in a statement.
Duchy of Cornwall
The Duchy was created for the express purpose of providing income to the heir to the throne; however, the terms of the original creation limit the title Duke of Cornwall to the monarch’s eldest son if he is also the heir to the throne.
Prince Charles who inherited The Duke of Cornwall has a “possessory interest” in the assets of the duchy (e.g., lands), meaning that he benefits from the net income of the duchy but does not own it outright and does not have the right to sell capital assets for his own benefit.
In 1913, the Government Law Officers issued an opinion stating that the Duke of Cornwall is not subject to taxation on income from the Duchy.
However, since 1993, Prince Charles has voluntarily agreed to pay income tax at the normal rates. When the Prince turned 21 in 1969, he voluntarily paid 50% of his income to the Treasury; from his marriage in 1981 until the current regime began in 1993, he paid 25%.
Since the passage of the Sovereign Grant Act in 2011, income from the Duchy of Cornwall passes to the heir to the throne, regardless of whether the heir is the Duke of Cornwall. If the heir is a minor, 10% of the income is passed to the heir, with the remainder going to the Crown.
In 2017-18, the Duchy took in £21.7 million. This covered most of the official and charitable activities of the Prince of Wales and the Duchess of Cornwall, as well as the official offices of the Duke and Duchess of Cambridge and Prince Harry.
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