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At the age of 73, the eldest son of the late Queen Elizabeth II became King of England. Charles III acceded to the throne last Saturday, September 10 and, as he pointed out, his life “will of course change as I take up my new responsibilities”. Indeed, one of these changes has to do with economics. The truth is that the new monarch will enjoy a juicy salary that came to light in the last few hours.
According to the newspaper La Razon, Elizabeth II received an annual salary of 98 million euros, which included all the expenses associated with British royalty, such as travel, food, employees and maintenance, among other things.
After covering expenses, it is estimated that the monarch’s final salary is half of the allocated budget. In this case, the modest sum in question would be 44.5 million euros per year.
So far and for the Duchy of Cornwall, Charles received 28.5 million euros per year. As for the rest of the royal family, their income was divided as follows:
- William and Kate Middleton: 4 million per year
- Prince Harry and Meghan Markle, the Duke and Duchess of Sussex: 3 million per year.
- Princess Anne: $441,000 per year
- Prince Andrew, Duke of York: 580,000 per annum
- The Earls of Wessex: 290,000 per year.
As a curious fact about the British monarchy’s income, it is not funded directly from Parliament. Since 2013, its accounts operate through a “sovereign grant” system, which allocates 25% of the annual income from the Crown Estate, a property portfolio that includes real estate assets.
Those properties are valued at about $25 billion and produce an estimated $20 million each year. In addition, another real estate portfolio, known as the Duchy of Lancaster, provides the king with an additional income of $30 million annually.
Joaquín Núñez es licenciado en comunicación periodística por la Universidad Católica Argentina. Se especializa en el escenario internacional y en la política nacional norteamericana. Confeso hincha de Racing Club de Avellaneda. Contacto: [email protected] // Joaquín Núñez has a degree in journalistic communication from the Universidad Católica Argentina. He specializes in the international scene and national American politics. Confessed fan of Racing Club of Avellaneda. Contact: [email protected]