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King Charles richer than Elizabeth. Inheritance, a penchant for business and... thrift

2023-05-05 22:51:36Kosova&Bota SHKRUAR NGA REDAKSIA VOX
King Charles richer than Elizabeth. Inheritance, a penchant for business and...
How rich is King Charles?

How rich is King Charles? It depends. According to the "Sunday Times", which annually publishes an authoritative "Rich List", i.e. the list of the richest people in Great Britain, the new sovereign registers a personal value of 600 million pounds (equivalent to almost 700 million euros). .

But according to "The Guardian" - a radical left-wing and fiercely anti-monarchist newspaper - the king's wealth is around two billion: although Charles' spokespeople have defined this figure as "a very creative mixture of speculation, hypothesis and inaccuracies".

In any case, the monarch is not a poor man and above all he is much richer than his mother, Queen Elizabeth, whose wealth, according to the "Sunday Times", is estimated at only 370 million pounds (a little more than 400 million euros): it is even underlined that those 600 million do not even allow Charles to enter the list of the 250 richest British people, often multimillionaires.

In fact, Charles, as the Prince of Wales, is known to have complained that he was a "beggar" compared to the Arab sheikhs he sometimes had to meet: and if he could console himself by being above the likes of Elton John or the Beckhams, even Prime Minister Rishi Sunak and his wife, Akshata Murty, outbid him by £700 million.

But where does Charles' wealth come from? It's a mix of heritage and smart business choices: for Charles is a shrewd businessman who over the years has turned his Duchy of Cornwall into a "goose that lays golden eggs".

Moreover, the young King is a frugal man: he has been wearing the same clothes for decades – clearly with great craftsmanship – and is always careful to turn off the lights when he leaves a room.

Above all, he committed to rebuilding his assets after the divorce blow from Diana, which in the mid-nineties had taken him about 20 million euros.

At the heart of the new king's estate are Sandringham and Balmoral castles: unlike Buckingham Palace and other royal residences, which are publicly owned, these two properties are private.

The first has been in the hands of British sovereigns for more than 160 years and is valued at £245 million (approx. €280 million), while the second, bought by Prince Albert for Queen Victoria, is worth £210 million (approx. 250 million euros)

Charles inherited those two castles from his mother, along with the Queen's investment portfolio in stocks and bonds, worth around £100 million.

After all, the king has not paid a penny of inheritance tax (which would have been nearly £150m) because a special law, pushed by Conservative Prime Minister John Major, states that "sovereign-to-sovereign" passages are taxes. for free.

The crown estates, which are worth over £15 billion (about €18 billion), are considered public property, but as Prince of Wales, Charles enjoyed the profits of the Duchy of Cornwall (now passed to William): and as a good administrator, in ten years he had increased his income by 42%, bringing it to over 25 million per year.

Now the young King has inherited from his mother the Duchy of Lancaster, which holds very valuable lands throughout England, including London.

And here lies the memory of "The Guardian": the king receives the profits of the duchy, but he is not the ultimate owner, as he cannot sell the goods, but the paper still attributes to Charles more than 650 million pounds of the total value.

Similarly, The Guardian believes that the value of the jewels owned by Charles is at least ten times their intrinsic value, due to the fact that they belong to a King.

And therefore I place the estimate at over half a billion pounds. To this must be added the horses and works of art inherited by Elizabeth, which would bring the total figure with those discussed to two billion./ Corriere della Sera


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