Royal land, royal earnings! KingCharlesIII's vast property empire adds up to $34 million this year. 🏰📈
The information on the king’s property comes from recently published records detailed about the Duchy’s finances, the first time such a disclosure has been released during Charles’s reign. The data shows that the land generated more income than it ever did when it was under his mother’s control.That’s likely because of a 3 percent increase in rent for tenants residing on royal land over the last fiscal year. The Duchy said that “refurbishment and restoration” resulted in “improved rental values.
A duchy is a territory that’s maintained by a duke or duchess; Charles’s Duchy of Lancaster consists of a $1 billion real estate portfolio, which makes money for themember presiding over it. Before becoming king, Charles ran the Duchy of Cornwall, another portfolio that is now maintained by his son Prince William.
Although the duchies are the primary sources of private income for the royal family, they are only a small part of the monarchy’s estimated $28 billion fortune. The rest comes from other real estate holdings under the Crown Estate, a government Sovereign Grant, and of course, Buckingham and Kensington Palaces.
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