King Charles now richer than his mother Queen Elizabeth was with estimated $1.26 billion

King Charles’ personal wealth is estimated to be about US$770 million ($1.26 billion), according to the 2024 Sunday Times Rich List. Photo / Getty Images

King Charles is now wealthier than his mum, with the monarch’s personal wealth estimated to be about US$770 million ($1.26 billion), according to the 2024 Sunday Times Rich List.

This marks an increase of US$12m from last year’s list, reports The Sunday Times, making the British monarch the 258th richest person in Britain.

The King’s fortune has exceeded the late Queen Elizabeth, whose personal wealth came in at about US$468m before she passed away in September 2022, according to that year’s version of the rich list.

However, Charles’ personal wealth isn’t anywhere near Hugh Grosvenor’s, the Duke of Westminster. Grosvenor is Prince George’s godfather and his family’s net worth is US$12.8b.

Grosvenor is also said to be Prince Archie’s godfather, however, Prince Harry and his wife Meghan Markle haven’t publicly confirmed their children’s godparents.

According to a former aide of the King, Charles rebuilt his wealth after his US$21m divorce from the late Princess Diana in 1996 by saving profits he received from the Duchy of Cornwall, reports The Sunday Times.

Queen Elizabeth passed on her investment portfolio, said to be worth roughly US$151m ($246m), to King Charles. Photo / Getty Images

“He became prudent at tucking away some money from the Duchy after that wipeout [of capital],” the former aide said. “We’re not talking vast sums here – several tens of millions, no more. There have been suggestions that Camilla brought a good deal of money into their relationship, but that’s really not correct.”

The Duchy of Cornwall is a US$1b estate, which is comprised of land, farms, houses, and other assets. The duchy also rents commercial properties in London, Cornwall and Milton Keynes and brings in money that supports Charles, his family, and his charitable outings.

William, the Prince of Wales, inherited the estate from his dad after Queen Elizabeth passed away two years ago.

The King grew the duchy’s yearly profits by 42.6 per cent to more than US$31m between 2011 and 2022, and received more than US$268m from the duchy between 2012 and 2022, according to The Sunday Times.

The publication states that the Sandringham Estate in Norfolk and Balmoral Castle in Scotland are Charles’ most valuable assets, with the farmland around Sandringham evaluated to be worth more than US$360m.

The King also owns various other properties, such as Highgrove House in Gloucestershire and a home in Wales.

After her death, Queen Elizabeth additionally passed on her investment portfolio, said to be worth roughly US$151m.