The King’s wealth has increased by $12 million since 2023, according to ‘The Sunday Times Rich List’

King Charles III on the balcony of Buckingham Palace, London, following the coronation on May 06, 2023 in London, England. The Coronation of Charles III and his wife, Camilla, as King and Queen of the United Kingdom of Great Britain and Northern Ireland, and the other Commonwealth realms takes place at Westminster Abbey today. Charles acceded to the throne on 8 September 2022, upon the death of his mother, Elizabeth II.

King Charles. PHOTO: SAMIR HUSSEIN/WIREIMAGE

King Charles is now richer than his mother.

According to the 2024 Sunday Times Rich List, the British monarch’s personal wealth stands at $770 million, making him the 258th richest person in the U.K.

This marks a $12 million increase since the list was released in 2023, per The Sunday Times.

Charles’ wealth has also far exceeded his mother’s, the late Queen Elizabeth. Per the 2022 Sunday Times Rich List, Queen Elizabeth’s personal wealth stood at $468 million before her death in September of that year.

King Charles III and Queen Camilla attend the Sunday service at the Church of St Mary Magdalene on the Sandringham estate on February 4, 2024 in Sandringham, England

King Charles and Queen Camilla on the Sandringham estate.MAX MUMBY/INDIGO/GETTY

Yet the King’s personal wealth doesn’t even come close to matching Hugh Grosvenor, the Duke of Westminster, who is godfather to Prince George, whose family’s net worth stands at a huge $12.8 billion, according to The Sunday Times.

Grosvenor is also reportedly Prince Archie’s godfather, though Prince Harry and Meghan Markle have opted not to publicly reveal the names of their son’s godparents.

A former aide of the King’s has told the outlet that Charles rebuilt his wealth following his $21 million divorce from Princess Diana in 1996 by saving profits he received from the Duchy of Cornwall.

“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.”

King Charles III and Queen Camilla at the balcony of Buckingham Palace following the Coronation of King Charles III and Queen Camilla on May 6, 2023 in London, England.

King Charles and Queen Camilla during the Coronation.

P VAN KATWIJK/GETT

The Duchy of Cornwall is a large $1 billion estate, which includes land, farms, houses, and other assets. The duchy also rents commercial properties in London, Milton Keynes and Cornwall. It generates income that supports the Prince of Wales, his family, and his charitable activities.

Prince William inherited the estate from his father, 75, following Queen Elizabeth’s death in September 2022.

According to The Sunday Times, Charles increased the duchy’s annual profits by 42.6% to over $31 million between 2011 and 2022, while he received over $268 from the duchy between 2012 and 2022.

Meanwhile, the outlet lists the Sandringham Estate in Norfolk and Balmoral Castle in Scotland as King Charles’ most valuable assets, with the prime farmland around Sandringham estimated to be worth over $360 million. Charles also owns many other properties, including Highgrove House in Gloucestershire, England, and a home in Wales.

Following her death, Queen Elizabeth also passed on her investment portfolio, estimated to be worth about $151 million.

The true wealth of the British royals is extremely difficult to calculate, however, as the value of their personal jewelry, gifts and other items is unknown, while they also own one of the world’s biggest art collections. Charles also receives a taxpayer-funded Sovereign Grant from the U.K. government each year to cover the costs of official duties and the upkeep of homes including Buckingham Palace.