King Charles sits atop $28 billion royal inheritance amid cancer diagnosis
Buckingham Palace disclosed that King Charles, the reigning monarch, is grappling with a recent diagnosis of a form of cancer.
The announcement sheds light on a health challenge faced by the 75-year-old monarch, whose royal journey began following the demise of his mother, Queen Elizabeth II, in September 2022, followed by his coronation in May of the subsequent year.
While the palace has remained tight-lipped about the specific type of cancer afflicting King Charles, it has clarified that it is not prostate cancer. The diagnosis came to light during the King’s recent treatment for an enlarged prostate, and he has commenced “regular treatments” as of Monday.
Despite the health setback, King Charles, who commands a royal inheritance estimated at an impressive $28 billion, remains optimistic and is eager to resume full public duties post-treatment.
The palace has assured that the King will continue to fulfill his constitutional role as head of state during this period, including paperwork and private meetings.
The monarch, who has been a patron of several cancer-related charities, chose to go public with his diagnosis, emphasizing the importance of raising awareness and supporting individuals facing similar health challenges.
King Charles informed both of his sons, with the Prince of Wales maintaining regular contact. Prince Harry, currently residing in the United States, plans to visit his father in the UK in the coming days.
What we know
In the face of King Charles III’s recent cancer diagnosis, the palace remains tight-lipped about specific details, respecting the monarch’s privacy during this challenging time. Simultaneously, the constitutional mechanism allows for the appointment of “counsellors of state” to step in for official duties if the head of state is unable to perform. The current counsellors include Queen Camilla, Prince William, the Princess Royal, and Prince Edward.
Notably, King Charles III has held the throne for less than a year and a half, inheriting the monarchy following his mother, Queen Elizabeth II’s, passing in September 2022. Along with the crown came the staggering wealth of the British royal family, known colloquially as “The Firm,” boasting a substantial $28 billion (£21.3 billion), according to Forbes.
This financial oasis, distinct from Queen Elizabeth’s personal wealth, encompasses a notable lineup including King Charles, Queen Consort Camilla, Prince William, and Princess of Wales Kate Middleton, among others.
For Queen Elizabeth II, the longest-reigning monarch in British history, her personal fortune, estimated at $500 million (£380.7 million) by Forbes, featured a trove of assets, including an extensive jewelry and art collection, real estate, and diverse personal investments.
King Charles also inherited a significant share of her $500 million, catapulting his net worth beyond $2 billion (£1.8 billion). His assets range from expansive estates and valuable artworks to jewels, racehorses, stamps, and luxurious cars.
A bedrock of the Windsor family’s financial might lies in their vast property holdings, collectively managed by The Crown Estate—an entity overseen by an independent council. Valued at an astounding $20.5 billion (£15.6 billion), The Crown Estate yielded an estimated $410 million (£312.7 million) in net revenue by the conclusion of the 2022 fiscal year.
Regardless of their expansive property portfolio, the Windsors do not solely reap the rewards from The Crown Estate’s profits. A substantial portion is remitted to the British government in exchange for a Sovereign Grant, equivalent to 25% of the estate’s profits.
Nevertheless, as King Charles embarks on his health journey, both the royal family and the public anxiously await updates on his progress.
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